British banking giant Barclays faces new charges from the UK's fraud watchdog over loans made by the company in 2008 to Qatari investors.
The Serious Fraud Office (SFO) said on Monday it had charged Barclays Bank Plc with unlawful financial assistance relating to a $3bn loan to Qatar Holding between 1 October and 30 November 2008 for the purpose of "directly or indirectly acquiring shares in Barclays Plc".
Back in June 2017 the SFO charged the parent company and four its former executives with conspiracy to commit fraud and the provision of unlawful financial assistance, but today's announcement confirmed the SFO's intentions of tackling the company's British retail banking subsidiary.
Barclays said in a statement: "Barclays Plc and Barclays Bank Plc intend to defend the respective charges brought against them. Barclays does not expect there to be an impact on its ability to serve its customers and clients as a consequence of the Charge having been brought."
Shares in the bank were not affected by the news. After half an hour of trade on the London Stock Exchange, Barclays shares were up 1.03% at 195p.