Pre-tax profits in Barclays’ wealth and investment management division dropped 53% year-on-year to £47 million for the first half of 2013, as the bank said it would pay £22 million in redress to customers who had invested in an AIG fund.

The £22 million payout - labelled "customer remediation provision" in today's results - came after the bank agreed to pay redress to affected investors after better options were found to have been available at the time the AIG fund was sold. Barclays has not been found guilty of mis-selling the AIG Enhanced Variable Rate Fund, however.