Barclays faces further SFO charges over £2.2bn Qatar loan

The SFO says the loan was "for the purpose of directly or indirectly acquiring shares in Barclays", which is prohibited under UK law.

The charges relate to the "unlawful financial assistance" Barclays gave to Qatar Holding and follows charges brought against the holding company, Barclays Plc, and four individuals in June 2017.

Ian Forrest, investment research analyst at The Share Centre, said that although a similar charge was made against the parent group last June, today’s news is "potentially more significant as it’s the subsidiary which operates the banking licences and is subject to regulation".

Barclays said that both the parent company and subsidiary intend to defend themselves against the charges, adding that it "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”.

Ross Dixon, partner at Hickman & Rose solicitors, commented: “Under David Green’s tenure as Director the SFO have been busy taking on a number of high-profile investigations and the decision to charge Barclays Bank now may be an indication of an intention to grapple with charging decisions in those matters ahead of his departure in a couple of months’ time.”