Barclays takes £750m charge in Q4
London
BARCLAYS took a £750 million (S$1.57 billion) charge in the fourth quarter as it prepares to settle allegations that its traders manipulated foreign exchange markets, overshadowing the bank's efforts to slash costs and boost profits.
Past conduct problems continue to dog Barclays chief executive Antony Jenkins, but despite the burgeoning budget for litigation, he accepted his first bonus since taking charge three years ago, helping to boost his total pay to £5.5 million from £1.6 million in 2013.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover