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Barclays apologises for Libor affair, reveals new probe

Published on Jul 28, 2012 6:00 AM
 
A man walks past a branch of Barclays bank in central London, on July 3, 2012. Barclays on Friday formally apologised for the Libor rate-rigging scandal and revealed that its finance director faced a probe into a separate regulatory matter in a fresh blow for the British bank. -- PHOTO: AFP

LONDON (AFP) - Barclays on Friday formally apologised for the Libor rate-rigging scandal and revealed that its finance director faced a probe into a separate regulatory matter in a fresh blow for the British bank.

Announcing slumping profits at the embattled group, Barclays also confirmed that it was facing a slew of lawsuits after admitting last month that the company attempted to manipulate the Libor interbank interest rate.

The lender added that British financial watchdog the Financial Services Authority (FSA) has started a separate probe into four current and senior employees - including current finance director Chris Lucas.

"The FSA has commenced an investigation involving Barclays and four current and former senior employees, including Chris Lucas, group finance director," Barclays said in the results statement.

 
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