Barclays sets aside further £800M for forex fines

Barclays set aside a further £800 million ($1.23 billion) for fines over past misconduct, as the turnaround in trading at its investment bank – where much of its problems began – appeared to have started.

The extra sum set aside for fines, mainly relating to investigations into alleged foreign exchange market manipulation, brings the total provision for resolving the scandal to £2.05 billion.


Traders work on the floor of the New York Stock Exchange.
Getty Images
Traders work on the floor of the New York Stock Exchange.

The bank's adjusted profit before tax for the first quarter rose 9 percent from the same time in 2014 to £1.85 billion, slightly better than analysts had been expecting.

At its embattled investment bank, improving market conditions and a poor comparison with last year saw profit before tax up 37 percent.