Barclays sinks into red on US fine

London: British bank Barclays dived into a first-quarter net loss, it said on Thursday, following a huge US fine over its conduct in the run-up to the global financial crisis.
The London-listed financial services giant suffered a loss after taxation of £764 million ($1.07 billion, 874 million euros) in the three months to the end of March, Barclays said in a results statement. That contrasted with a modest net profit of £190 million in the same part of 2017.
The lender agreed last month to pay a $2 billion fine to resolve a fraud case involving mortgage derivatives sold in the run-up to the 2008 global financial crisis. — AFP