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    Join Date
    Aug 2011
    Lahore, Pakistan
    Blog Entries

    In 2012, Barclays was a net loss of $1.64 Billion

    February 12. FINMARKET.RU - In 2012, Barclays Plc a net loss at the level of 1.04 billion pounds ($ 1.64 billion) against profit of 3 billion pounds a year earlier, according to a press release from the bank.

    Analysts polled by Bloomberg, predicted that the loss of the bank in 2012 to 307 million pounds.

    Barclays was fined 290 million pounds for the manipulation of the LIBOR and sent 1.6 billion pounds in compensation to customers who have purchased insurance policies pay the borrower (the so-called payment protection insurance) at exorbitant rates, because the bank did not inform customers properly on all terms of the transaction. A year earlier, the amount of compensation was 1 billion pounds.

    Loss after tax was last year 236 million pounds compared to 3.95 billion pounds profit in 2011. Annual revenue fell to 25.9 billion pounds to 33 billion pounds.

    Net interest income decreased to 11.64 billion pounds from 12.2 billion pounds.

    Core capital adequacy ratio of the first order on December 31, was 10.9% compared with 11% at the end of the previous year.

    Pretax profit investment banking jumped to 858 million pounds from 267 million pounds in the fourth quarter and by 37% in 2012 - to 4.06 billion pounds. Annual revenue rose to 11.7 billion pounds from 10.3 billion pounds.

    Barclays announced plans to lay off 3.7 thousand employees as part of cost-cutting program volume of 1.7 billion pounds. While 1.8 thousand layoffs will occur in the investment bank, and 1.9 thousand - in the European division.

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