New Model Adviser - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Barclays sets aside another £1bn for mis-selling redress

16 Comments
Barclays sets aside another £1bn for mis-selling redress

Barclays has set aside a further £1 billion to pay redress to customers mis-sold payment protection insurance (PPI) and interest rate swaps.

Barclays had previously made a provision of £450 million for interest rate swap redress, but announced a further £400 million had been put aside following the findings of a recent Financial Services Authority probe, and the onset of its own internal review.

The bank also announced plans to set aside a further £600 million for PPI redress, bringing its cumulative PPI provision to £2.6 billion.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Comment & analysis
Investment

FCA panel chair apologises to fund managers over interview comments

FCA panel chair apologises to fund managers over interview comments

Chris Sier, the chairman of the Financial Conduct Authority’s (FCA) institutional disclosure working group (IDWG), has apologised to the Investment Association (IA) for a perceived slur on the trade body in a newspaper interview.

Twitter