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BARC Barclays Plc

181.88
1.94 (1.08%)
Last Updated: 09:54:22
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Barclays Plc LSE:BARC London Ordinary Share GB0031348658 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.94 1.08% 181.88 181.82 181.90 182.92 181.16 181.30 4,634,800 09:54:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 25.38B 5.26B 0.3470 5.26 27.65B

Barclays Posts Full-Year Loss

03/03/2015 8:58am

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Barclays (LSE:BARC)
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By Margot Patrick 

LONDON-- Barclays PLC on Tuesday said fines and legal costs pushed it to a GBP174 million ($267.4 million) net loss for the year, as it set aside an extra GBP750 million for an investigation into foreign-exchange markets.

Adjusted pretax profit for the year rose 12% to GBP5.5 billion from GBP4.9 billion, beating the roughly GBP5.3 billion expected by analysts. Barclays posted a GBP1.68 billion net loss in the fourth quarter, bigger than a GBP642 net loss in the last three months of 2013, largely because of a revaluation of loan portfolio held in its noncore division.

The bank made a GBP540 million net profit in 2013.

Barclays has now set aside GBP1.25 billion to cover potential foreign-exchange settlements, made up of a GBP500 million provision in the third quarter and the new GBP750 million charge.

Among a long list of legal provisions, it said another, unnamed regulator is looking at aspects of a continuing investigation by U.S. and British prosecutors over a deal Barclays struck with a Qatari investment vehicle while raising funds in 2008.

The bank said it is also providing information to the U.S. Department of Justice as part of the agency's investigation into precious metals.

Chief Executive Antony Jenkins has shrunk Barclays's investment bank and cut thousands of jobs across the group to improve profits. But, along with its peers, it has been dogged by fines for past misconduct and is being probed for alleged wrongdoing in several trading markets.

"We remain focused on addressing outstanding conduct issues, including those relating to foreign exchange trading," Mr. Jenkins said Tuesday. He said the behavior at the center of the investigations is "wholly incompatible with our values."

Even so, Mr. Jenkins collected a GBP1.1 million bonus, after turning down a bonus last year in part because of the costs of past misconduct. His total pay package for the year was GBP5.5 million.

Write to Margot Patrick at margot.patrick@wsj.com

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