British bank Barclays, rocked by a rate-rigging scandal earlier this year, said on Wednesday it fell into a nine-month net loss because of huge accounting charges. Barclays, which also took a large provision for insurance mis-selling, said in a results statement that losses after taxation stood at £200 million ($321 million, 248 million euros) in the nine months to September. That compared with £2.7 billion last time around, and the bank's shares fell sharply. The bank had already flagged two weeks ago that it would take a £1.01-billion charge on the rising value of its own debt. The group, which suffered a boardroom shake-up after the Libor interest rate-rigging scandal, had also announced it would set aside another £700 million to compensate clients mis-sold Payment Protection Insurance (PPI). Barclays added however that adjusted pre-tax third-quarter profits before exceptional items rallied 29 percent to £1.727 billion, boosted by its investment banking division. That was in line with the company's own guidance. "These results demonstrate that we continue to have good momentum in our businesses despite the difficulties we faced through this period," said chief executive Antony Jenkins in the earnings release. "While we have much to do to restore trust among stakeholders, our universal banking franchise remains strong and well positioned." The bank also revealed that the US Department of Justice and Securities and Exchange Commission were "undertaking an investigation into whether the group's relationships with third parties who assist Barclays to win or retain business are compliant with the United States Foreign Corrupt Practices Act."
