Newspaper article The Evening Standard (London, England)

Barclays Blasts Panorama over Bail-Out Claims

Newspaper article The Evening Standard (London, England)

Barclays Blasts Panorama over Bail-Out Claims

Article excerpt

Byline: Jonathan Prynn Consumer Business Editor

BARCLAYS was today caught up in a row with the BBC over what the bank called "completely unjustified" claims that it misled shareholders.

The bank, which publishes its financial results tomorrow, is accused of wrongly naming Manchester City owner Sheikh Mansour as the source of [pounds sterling]3 billion of bail-out money at the height of the banking crisis in 2008. The investments helped Barclays avoid a government rescue unlike rivals RBS and Lloyds TSB.

A Panorama programme due to be broadcast tonight says that in fact the money came from the Abu Dhabi government and this was not properly disclosed in its 2008 accounts.

But Barclays insists that it re-drafted all financial documentation "overnight" once the change had been identified except for one mention in the accounts, which is blamed on a "simple drafting error".

In a statement Barclays said: "We have repeatedly demonstrated to Panorama why the allegations which they plan to make in their programme are completely unjustified. …

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