Barclays sees profits fall to £5.9 billion

BANKING giant Barclays today reported pre-tax profits of £5.9 billion for last year, a three per cent fall on the previous year.

There was no immediate announcement about the bonus for Barclays chief executive Bob Diamond, who is said to be in line for a hand-out worth several million pounds. But the bank, which employs around 56,000 staff in the UK, said the bonus pool at its Barclays Capital investment banking division was down 32 per cent to £1.5bn.

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Meanwhile, the group total bonus pool was down 25 per cent at £2.2bn with the average payout for a group employee down 21 per cent year-on-year to £15,200. Elsewhere, the bank, said it had capped the cash part of bonuses for investment bankers at £65,000.

The results come after weeks of conflict over bankers’ bonuses, in which Royal Bank of Scotland chief Stephen Hester turned down his £963,000 bonus amid mounting pressure.