(Barclays) Barclays bank bonus pool improved 23% to 1.9 billion pounds in 2021, after reporting a full year pretax profit almost triple from the prior year.
The UK lender’s pretax profit of 8.4 billion pounds or $11.42 billion exceeded estimates and was an annual record for the bank.
Barclays also recorded a record investment bank profit of 5.8 billion pounds, reflecting a 34% gain from fees, which offset a 16% fall in market income.
The bank announced a return of 2.5 billion pounds to its shareholders in form of dividends and share buybacks.
The bank’s profits were also boosted by the release of 700 million of cash set aside to cover bad loans.
The bank’s return on tangible equity was recorded at 13.4%, while the common equity tier 1 ratio was 15.1%.
BARC: LON is up +2.77%.
