Barclays bank slides into annual net loss
The British bank reported a loss after tax of £174m for 2014 compared with a net profit of £540m the previous year
LONDON: Barclays fell into a net loss last year, the British bank said on Tuesday, hit by huge costs linked to its alleged role in the rigging of foreign exchange markets. Barclays reported a loss after tax of £174 million (Dh981 million, $268 million) for 2014 compared with a net profit of £540 million the previous year. It has set aside £1.25 billion “for ongoing investigations and litigation relating to Foreign Exchange”, including £750 million for the final quarter of 2014, the bank said in an earnings statement. Barclays had announced in October a provision of £500 million for any eventual costs and fines linked to the probes.
