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Barclays Asia cash-equity unit finally turns profit

Recent cost cuts should allow it to make profit by end next year, seven years after it started the business

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Published Wed, May 6, 2015 · 09:50 PM

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    Hong Kong

    BARCLAYS plc is on track to make money from its cash-equity broking unit in the Asia-Pacific region by 2016, seven years after it started the business.

    Recent cost cuts should allow the UK's second largest bank by assets to turn a profit in Asian cash equities by the end of next year, said Vikesh Kotecha, the firm's Asia-Pacific head of equities trading. Mr Kotecha said that Barclays has also refocused on its most profitable clients in a business that includes electronic and portfolio trading, exchange-traded funds

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