London: British bank Barclays dived into a first-quarter net loss, it said Thursday, following a huge US fine over its conduct in the run-up to the global financial crisis. The London-listed financial services giant suffered a loss after taxation of £764 million (Dh3.9 billion) in the three months to the end of March, Barclays said in a results statement. That contrasted with a modest net profit of £190 million in the same part of 2017. The lender agreed last month to pay a $2 billion fine to resolve a fraud case involving mortgage derivatives sold in the run-up to the 2008 global financial crisis. Barclays, whose operations span more than 40 countries, has about 120,000 employees around the world. Its main hubs are in London and New York.
Barclays sinks into red on US fine
The lender agreed last month to pay a $2b fine to resolve a fraud case involving mortgage derivatives sold in the run-up to 2008 financial crisis