Barclays never seem to be far away from the headlines at the moment, from its involvement in the payment protection insurance mis selling scandal to its Chief Executive and Chairman immediate resignations over interest rate rigging.
Both Bob Diamond, Chief Executive, and Marcus Agius, Chairman, stepped down this week following the bank’s involvement in inter-bank lending rates manipulation.
Last week the high street bank was fined £290m for attempting to fix Libor and Euribor (the interest rates at which banks lend to one another) over the course of a number of years. These rates underpin trillions of pounds worth of transactions.
This follows the lender having already earmarked £1.3bn to cover the cost of PPI redress.
Diamond is set to face MPs questions about the Libor affair from the Treasury Committee on Wednesday.