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.

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.

Source: CNBC