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3.7 million value taken off Barclays bank

Posted by matthew | On: Jun 29 2012

From the recent fine of £290 million for rate rigging scandal the value of Barclays have dropped by £3.7 billion , at first it rose to 1% then went down to 17% on the FTSE 100.

This scandal affected a lot of people and Bob Diamond has apologized to investors but has not gone that well. Other banks are looking to join Barclays like RBS, Loyds and HSBC who have also admitted rate rigging.

Barclays are not out of the clear yet FSA are looking to use criminal charges to further fine Barclays of billions.

If you are new to think you might be wondering what is all this? Well let me explain this new few words: Barclays have given false information about their interest rates on people taking loans from that bank. Bob diamond said he will not be taking any bonuses this year and is not looking to resign any time soon.

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