Barclays reveals fresh FSA investigation as profits hit £4.2bn

Barclays has reported pre-tax profits of £4.2bn for the six months to 30 June but has set aside £450m for swaps redress and revealed its finance director is involved in a fresh investigation by the FSA.

The bank said it is making a provision of £450m for the compensation it will provide to customers who were mis-sold interest rate hedging products, though it admitted the "ultimate cost of this exercise is uncertain". Chairman Marcus Agius apologised for the bank's role in the LIBOR scandal and said Barclays would work to restore its reputation. In its interim results for the first half of 2012, the bank also revealed that four current and former employees, including finance director Chris Lucas, are involved in an FSA investigation relating to Barclays' capital raisings in June and N...