Barclays Reveals 2013 Annual Profit Figures
Barclays has revealed its annual profit figures a day earlier than planned, to quash media speculation.
The bank announced an adjusted pre-tax profit of £5.2bn.
It was down 26% on the £7bn figure for 2012, below analysts' expectations, and the drop is believed to be due to lower income from its investment arm.
The statutory pre-tax profit was revealed as £2.9bn for last year, up from £246m in 2012.
Barclays was not due to release the figures until Tuesday morning but was prompted to act early after a report appeared in the Financial Times with accurate figures.
It said the figures were released early to provide "clarity" and avoid speculation.
The bank's shares were up more than 1.5% in late morning trades. Here is the latest share price.
Detailed result accounting will be released on Tuesday at 7am, as part of the annual release.
Barclays has come under fire over increasing bonuses paid amid lacklustre performance in parts of its investment bank.
It is expected to pay out about £2.4bn in bonuses for last year, up 10% on the 2012 figure.
CEO Antony Jenkins waived his own bonus of just over £1.5m last week amid attempts to dampen anger over the disconnect between banker pay and the wider society.
He is expected to say the bonus increase figure is artificial as payouts were reduced last year as a result of it being hit with a £290m fine over the scandal of interest rate-rigging.
Last year it paid out staff rewards of £2.17bn for the 2012 year, including a bonus pot of £1.85bn.
The company has cut almost 2,000 investment bank jobs, which would mean higher bonuses for remaining staff.
Barclays has cut about 400 investment bank jobs in the last fortnight, and plans to cut a similar number in its corporate bank.
Mr Jenkins is also tipped to cut more staff and retail branches across Britain as part of its restructuring programme.
Meanwhile, it was revealed on the weekend that an investigation is under way after confidential files relating to customers of the bank were allegedly stolen and sold on to rogue City traders.
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