Barclays: ‘Lost’ $ 590 million from mismanagement of structured products

The British bank Barclays today announced a loss of 450 million pounds (591.80 million dollars) from mismanagement of structured products, and stressed that this means that it should delay the purchase of shares.

The bank stressed that the securities offered and sold by the structured products activities for a period of one year, had exceeded the registered amount for sale, which means that they should be redeemed at their original purchase price.

The 450 450m figure was “the best estimate for Barclays at the moment”, the bank said, lowering the key capital ratio in the middle of the target by 13% -14%.

Barclays has said it will delay the planned επανα 1bn repurchase of shares until the second quarter, adding that it has called for an independent review.

Regulators are also investigating and seeking information, the bank said.

The company’s share is falling 3%.

Barclays’s largest investment bank has previously proven to be an outstanding performer for the group in recent years, helping it to record annual profits for 2021.

While the current stock market is simply lagging behind, the mistake could reduce future capital distributions to shareholders by the bank, analysts say.