Barclays Reports £228m Loss from Collapse of Shadow Bank Market Financial Solutions
Barclays reported a £228m loss due to the collapse of shadow bank Market Financial Solutions (MFS), which was involved in alleged fraud. The loss, along with a £105m increase in provisions from a motor finance scandal, did not prevent Barclays from recording £2.8bn in pre-tax profits. The bank's shares fell 2.9% following the announcement.
Topics: banking sector Barclays financial loss fraud allegations Market Financial Solutions shadow bank collapse