Barclays bank recorded net losses of 174 million pounds (€ 239 million) in 2014, due to the high costs associated with the alleged allegedly fraudulent role of the British bank in the foreign exchange markets, it was announced today.
In 2013, Barclays had obtained liquids results of 540 million pounds.
However, the bank achieved pre-tax profits of 5,502 million pounds (7,554 million euros), 12% more than the previous year, when it had encrypted in 4,908 million pounds (6,738 million euros).
However, operating revenues fell in 2014 to 23,560 million (32,347 million), 5% less than the previous year.
The chief executive of Barclays, Antony Jenkins said today that the bank is currently a “stronger business” and “with better prospects’ in relation to the 2008 credit crisis
“Although our work to transform the bank not be complete, our performance in 2014 gives us confidence that we are on track,” stressed Jenkins.
According to the same official, the investment itself area showed a good performance and the entity has achieved a “significant reduction” of costs in 2014, as well as strengthen the capital.
In a statement sent to the London Stock Exchange, Barclays states that created reserves of 1,250 million pounds’ for ongoing investigations and defense associated with the foreign exchange market “, including 750 million pounds in the last quarter of the year .
Last October Barclays had announced the constitution of a provision of £ 500 million for possible costs and penalties associated with the scandal.
The presentation of the results of Barclays – who was also involved in 2012 in the match-fixing scandal in interest rates Libor and Euribor between 2005 and 2009 – when regulators around the world are investigating the alleged fraud in the market rates exchange worldwide.
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