UK bank Barclays has said it has made an "encouraging" start to the year as it reported its first-quarter results.
But a £2.62bn accounting adjustment and an additional £300m set aside for settling claims of mis-selling payment protection insurance hit the bank.
It reported a statutory pre-tax loss of £475m in the first quarter, compared with a £1.66bn profit a year ago.
But stripping out the impact of these, it made a profit of £2.45bn, which was ahead of analysts' forecasts.
It said that profit had been driven by "strong performances in both retail and business banking and corporate and investment banking, with the non-investment bank businesses showing significant growth in adjusted profits".
Barclays holds its annual general meeting on Friday, where shareholders will vote on a pay deal for chief executive Bob Diamond and other senior executives.
Between a quarter and a third of investors are expected to vote against the deal.
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