Barclays: Barclays reports 8% fall in annual profits

Barclays has reported an eight per cent drop in total-year statutory gains to GBP2.07 billion for the 2015 year.

On an adjusted basis, stripping out one off prices and misconduct provisions, pretax profits were down two per cent to GBP5.4 billion.

An additional GBP1.23 billion provision was reserved to insure “on-going investigations and litigation”, a GBP580 million loss on sale relating to Spanish, Portuguese and Italian companies.

Barlcays said it expects to pay out “a substantial percentage of earnings in dividends to investors over time”, but will pay dividends “semiannually from 2016 rather than quarterly”.