Financial News
- 10 February 2012, 7:59
Barclays Posts Profits Of £5.9bn For 2011
Banking giant Barclays has posted pre-tax profits of £5.9bn for 2011, a fall of 3% on the previous year.
Pre-tax profits at Barclays Capital, the investment banking arm, fell by 32%.
Across the group, the total bonus pool is down by 26% compared to 2010. A total pot of £2.15bn will be paid out this year.
At Barclays Capital total awards are down by 35% to £1.5bn.
The investment banking division has capped its cash bonuses at £65,000.
The bank also said it had exceeded its Project Merlin lending targets to both UK businesses and small and medium-sized enterprises (SMEs).
It has lent £14.7bn to SMEs.
The full year report also revealed the UK bank levy cost Barclays £325m.
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Lee Bennett
8:23am on 10/2/2012
still huge bonuses but at the end of the day they are an efficient business .They have had no bail outs.I bank with them myself and have never had any probs at all in 27 years.Only gripe would be that they closed a small branch in the town next to us ,suppose they had their reasons.Don't think that many would complain about the fact they have made so much.Not sure about the bank charges for business' s maybe anyone out there could shed some light.At the end of the day it has not had any tax payers money.
Michael Booth
10:24am on 10/2/2012
A good comment Lee. Barclays, along with HSBC, did not need a cash bail out from the Govt. We need profitable companies to pay good dividends which go into peoples Pensions and Life Policies. As the day goes on I'm sure we will get loads of "Hate the Bankers" with their negative comments!!
Lee Bennett
1:31pm on 10/2/2012
Michael ,i have to say i would be one of the bash a banker brgade regarding the bailed out ones picking up bonuses.They ought to consider themselves lucky to still have a job.But tarring them all with the same brush isn't right either ,Barclays are obviously good at what they do and make money,its good that a British company can still do something right