AIRLINK 171.51 Decreased By ▼ -4.22 (-2.4%)
BOP 13.22 Increased By ▲ 0.10 (0.76%)
CNERGY 7.40 Decreased By ▼ -0.14 (-1.86%)
FCCL 43.20 Decreased By ▼ -0.71 (-1.62%)
FFL 14.88 Decreased By ▼ -0.13 (-0.87%)
FLYNG 26.46 Decreased By ▼ -0.44 (-1.64%)
HUBC 129.79 Decreased By ▼ -0.44 (-0.34%)
HUMNL 13.22 Decreased By ▼ -0.12 (-0.9%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 54.95 Decreased By ▼ -1.08 (-1.93%)
OGDC 211.11 Decreased By ▼ -3.66 (-1.7%)
PACE 5.95 Decreased By ▼ -0.03 (-0.5%)
PAEL 41.00 Increased By ▲ 0.10 (0.24%)
PIAHCLA 16.22 Decreased By ▼ -0.10 (-0.61%)
PIBTL 9.58 Decreased By ▼ -0.17 (-1.74%)
POWER 11.52 Decreased By ▼ -0.24 (-2.04%)
PPL 177.60 Decreased By ▼ -3.88 (-2.14%)
PRL 33.33 Decreased By ▼ -0.89 (-2.6%)
PTC 22.72 Decreased By ▼ -0.34 (-1.47%)
SEARL 93.99 Decreased By ▼ -1.73 (-1.81%)
SILK 1.18 Increased By ▲ 0.04 (3.51%)
SSGC 34.70 Decreased By ▼ -0.75 (-2.12%)
SYM 15.66 Decreased By ▼ -0.09 (-0.57%)
TELE 7.78 Decreased By ▼ -0.09 (-1.14%)
TPLP 10.90 Decreased By ▼ -0.08 (-0.73%)
TRG 60.50 No Change ▼ 0.00 (0%)
WAVESAPP 10.69 Decreased By ▼ -0.12 (-1.11%)
WTL 1.33 Decreased By ▼ -0.02 (-1.48%)
YOUW 3.77 No Change ▼ 0.00 (0%)
BR100 12,042 Decreased By -11.4 (-0.09%)
BR30 36,310 Decreased By -157.1 (-0.43%)
KSE100 113,613 Decreased By -743.6 (-0.65%)
KSE30 35,008 Decreased By -339.7 (-0.96%)

LONDON: Barclays reported its annual profit nearly trebled as bad loan charges plunged and its investment bank continued its strong recent performance amid market volatility in the COVID-19 pandemic.

The British lender on Wednesday reported profit before tax for 2021 of 8.4 billion pounds ($11.42 billion), up from 3.1 billion pounds a year ago and above the average analysts' forecast of 8.1 billion pounds.

Barclays said it would buy back 1 billion pounds of its own shares and increase its full-year dividend to 4 pence per share, in its first update to investors since C.S. Venkatakrishnan took over as Chief Executive following the shock exit of Jes Staley in November.

Euro gains on potential Biden-Putin summit

Staley left after a dispute with British financial regulators over how he described his ties with convicted sex offender Jeffrey Epstein.

Venkatakrishnan, who is known inside the bank as Venkat and like Staley is a former employee of JPMorgan, indicated after his elevation to the CEO role that the lender's investment banking-focused strategy is "the right one".

The bank confirmed its long-standing chief financial officer Tushar Morzaria had decided to retire from the lender, with his deputy Anna Cross set to take on the role from April.

Comments

Comments are closed.