Barclays bonuses

Barclays bonus controversy
Barclays bonus controversy

Barclays has reported a three per cent fall in profits to £5.9 billion for last year.

The total put aside for bonuses will be around £2.15bn, 25% less than last year. Cash bonuses are capped at £65,000.

Barclays did not give details of the bonus for its chief executive Bob Diamond who received a bonus of £1.8 million in 2010 but press speculation puts his bonus at around £900,000.

The bank, the UK's fourth largest by market value, received no injection of state aid during the financial crisis and had previously indicated that it felt under no obligation to cut bonuses.

The bank's insistence it had cut the bonus pool for investment bankers by 32% to £1.5 billion is unlikely to placate angry shareholders.

Barclays' results come after weeks of public anger over bankers' bonuses. RBS chief executive Stephen Hester has reluctantly turned a bonus of £963,000 and Lloyds Banking Group chief Antonio Horta-Osorio waived his own payout following a leave of absence.
 

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