Libor
scandal
- Barclays scandal: Key players
- Timeline: Libor-fixing scandal
- Did anyone lose out?
- How big could the scandal get?
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| Barclays said it was determined to regain people's confidence |
Barclays
has said it is "sorry for the issues that have emerged over recent
weeks", when the bank has been caught up in a rate-fixing scandal.
Barclays
was fined a record £290m by UK and US regulators for attempting to rig the
Libor inter-bank lending rate.
The apology
came as the bank's statutory pre-tax profit for the first six months of 2012
fell 71% to £759m after taking a large own credit charge.
But on an
adjusted basis, profits were up 13% to £4.2bn, ahead of forecasts.
The bank
made a further £300m provision for settling claims for mis-sold payment
protection insurance (PPI).
It also set
aside £450m to cover potential costs of providing redress to small businesses
sold inappropriate swaps.
"We
are sorry... and recognise that we have disappointed our customers and
shareholders," said chairman Marcus Agius.
"I
speak for all of Barclays people when I say how determined we are to regain the
full confidence of all our stakeholders; customers and clients, investors,
regulators and staff alike."
The Libor
scandal led to the resignation of chief executive Bob Diamond.
Related Articles:
Barclays pay chair Alison Carnwath quits
David Cameron turns up the heat on Barclays: 'This must go right to the top'
Barclays pay chair Alison Carnwath quits
David Cameron turns up the heat on Barclays: 'This must go right to the top'
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