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Barclays profits damaged by charges including £127m Carillion hit

Barclays profits damaged by charges including £127m Carillion hit

Barclays pay committee will keep Staley's 2016 "variable remuneration under review pending the outcome of the investigation relating to his involvement in a whistle-blowing matter", it said.

Earlier this month, the Serious Fraud Office charged Barclays Bank PLC with "unlawful financial assistance" related to billions of pounds raised from Qatar in 2008.

Barclays bosses said after the results were posted that the bank would take a £127m hit from Carillion's failure.

Barclays shares rose 4% to 210.6p in early trading on Thursday.

"In particular the investment bank looks like a casino where the house isn't winning". He expects management to be bullish about the "ability for investment bank to achieve acceptable returns, now that volatility is re-emerging in markets". The bank will make a final decision once the outcome of the Financial Conduct Authority investigation is complete. Staley has also embroiled himself in a scandal over whistle-blowing past year, and the bank has been charged with fraud by United Kingdom regulators.

"Group profit before tax increased 10% year-on-year as a result of our team's focus on execution". Income from trading fell 18 percent.

Adjusted profits were slightly below consensus, noted analyst Gary Greenwood at Shore Capital, though he said the core tier 1 ratio is stronger than expected and the announced dividend of 6.5p per share in 2018 is better than consensus forecast of 5.2p.

The bank set aside £1.2bn to cover costs from litigation and conduct, compared with £1.4bn in 2016.

The bonus pool across the firm fell 2 percent to 1.5 billion pounds for the year.

Laith Khalaf, senior analyst at Hargreaves Lansdown, commented: "Arnold Schwarzenegger and Donald Trump don't always see eye to eye, but they have double-teamed Barclays, with the bank's full year profits dragged down by United States tax reform and a PPI campaign fronted by everyone's favourite bodybuilder".

Compensating the best-performing traders and deal makers while culling others is part of Staley's plan to build a bulge-bracket investment bank capable of competing with the biggest players on Wall Street.

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