Barclays staff to share £1.2bn in bonuses despite drop in profits

The 15% fall in profits follows costs of US trading blunder and money being put aside for defaults by borrowers

Barclays staff will share £1.2bn in bonuses despite a 15% drop in the bank’s annual profits, having been hit by the costs of a US trading blunder and more money being put aside for a potential jump in defaults by borrowers.

The bank revealed in its annual report on Wednesday that its staff bonus pool would go relatively untouched, with its top performers to share £1.2bn between themselves for their work in 2022. That is down only 3% compared with last year. Including deferred bonuses, the pool was down 8% at £1.8bn.