Repentant Barclays beats expectations

A contrite Marcus Agius, Chairman of under-fire bank Barclays, apologised for the company's involvement in the LIBOR fixing scandal as he unveiled half-year profits ahead of market expectations.

A contrite Marcus Agius, Chairman of under-fire bank Barclays, apologised for the company's involvement in the LIBOR fixing scandal as he unveiled half-year profits ahead of market expectations.

Adjusted profit before tax in the first half of 2012 rose 13% to £4,227m from £3,725m in the first half of 2011, versus market expectations of £3,958m. Statutory profit before tax crashed 71% to £759m from £2,644m the year before, however, as the company wrote down the value of its own credit by £2,945m.

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