Barclays Sorry for Libor-Rigging as Profit Beats Estimates
Barclays Plc (BARC), the British lender fined for rigging Libor, apologized for its role in the scandal as it posted first-half profit that beat analysts’ estimates.
Pretax profit excluding one-time items rose 13 percent to 4.23 billion pounds ($6.6 billion), the London-based bank said in a statement today. That beat the 3.9 billion-pound median prediction of eight analysts surveyed by Bloomberg.
“We are sorry for what has happened,” Chairman Marcus Agius said in the statement. “However, our leadership continues to focus on the delivery of our financial performance targets.”