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Economics & Business News

Barclays in the red because of the litigation

Barclays has suffered a fall in pre-tax profits because of its investment banking division, which experienced a severe restructuring.

The British bank reported a net loss of 174 million pounds ($ 239 million), against a net profit of 540 million in 2013.

In 2014, Barclays has registered some 1.7 billion pounds (2.3 billion euros) for providing various legal and regulatory affairs. From this amount, the bank has set aside 1.25 billion pounds to face the consequences of embezzlement charges in the foreign exchange market.

Barclays in the red because of the litigation