Barclays profits fall to £5.9bn
Barclays has reported a three per cent drop profits to £5.9bn for 2011 – dented by a slowdown at its investment bank arm.
The bank also said the bonus pool at the investment banking division was down 32 per cent to £1.5bn in 2011.
Income at investment bank arm Barclays Capital (BarCap) fell to £1.8bn in the fourth quarter of last year.
That was down 19 per cent on the previous three months. The Eurozone debt crisis hit the division’s bond trading activity.
Chief executive Bob Diamond said in a statement: “Against a backdrop of challenging economic and market conditions, we maintained our focus”
“We are not satisfied with the return on equity we delivered in 2011 and are committed to delivering steady improvement moving forwards.”