Barclays facing two new probes in the US

Following an investigation by UK authorities into payments to Qatari investors, Barclays said the US Department of Justice has also launched its own probe. In addition, the US Federal Energy Regulatory Commission has warned Barclays it faces another fine following an investigation into power trading between 2006 and 2008.

The bank has already been hit by interest rate rigging and insurance mis-selling scandals in the UK.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: “The spectre of more damage to the bank’s reputation in the form of further regulatory probes is weighing heavily on the shares.”

The new investigations were revealed as new Barclays boss Antony Jenkins insisted the bank was in good shape following a 27 per cent increase in underlying profits to £1.73bn in the three months to the end of September.

But this was before a £700m hit to cover mis-sold PPI claims and a one-off £1bn charge against the value of the bank’s own credit. At the statutory level it made a £47m loss in its third quarter.

Delivering his first set of results since taking over from Bob Diamond in the wake of the Libor-fixing affair, Mr Jenkins said the lender had “much to do to restore trust among stakeholders”, but remained “strong and well-positioned”.

This summer the Financial Services Authority and Serious Fraud Office launched investigations into payments made between Barclays and Qatar Holding.

The bank raised billions of pounds from Middle East investors in 2008, which effectively allowed it to avoid a state bailout, like Lloyds or Royal Bank of Scotland.

The US Federal Energy Regulatory Commission alleges that Barclays bought and sold electricity in enough volume to move exchange prices.

Barclays, which is expecting a fine from the US regulator imminently, said it intends to “vigorously” defend itself.