P131 AERTEL 1 131 Wed 23 Feb 08:42:09 1/4 BARCLAYS POSTS SOARING PROFITS 23 Feb 2022 07:38 Barclays said its annual profit nearly trebled as it returned £2.5 billionto shareholders in 2021 via dividends and buybacks, as bad loan charges plunged and its investment bank continued its strong recent performance. The British lender today has reported profit before tax for 2021 of £8.4 billion, up from £3.1 billion a year ago and above the average analysts' forecast of £8.1 billion. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business
P131 AERTEL 1 131 Wed 23 Feb 08:42:30 2/4 BARCLAYS POSTS SOARING PROFITS 23 Feb 2022 07:38 Barclays said it would buy back £1 billion of its own shares and increase its full-year dividend to 4 pence per share, resulting in a total payout for the year of £2.5 billion. In his first update to investors since taking over as chief executive following the shock exit of Jes Staley in November, CS Venkatakrishnan said he would continue his predecessor's focus on expanding the investment bank. Staley left after a dispute with British financial regulators over how he described his ties with convicted sex offender Jeffrey Epstein. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business
P131 AERTEL 1 131 Wed 23 Feb 08:41:28 3/4 BARCLAYS POSTS SOARING PROFITS 23 Feb 2022 07:38 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". Venkat said that along with the investment bank, his other two priorities would be digitisation projects such as a 'buy now, pay later' consumer finance offering with Amazon in Britain and Germany; and focusing on the transition to a low carbon economy. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business
P131 AERTEL 1 131 Wed 23 Feb 08:41:49 4/4 BARCLAYS POSTS SOARING PROFITS 23 Feb 2022 07:38 Despite the improved performance, the lender warned that soaring inflation in its markets would impact its finances. Barclays said its adjusted costs would be more than £12 billion this year, partly as a result of higher pay for its bankers. The lender's bonus pool for 2021 increased 23% to £1.9 billion. The bank confirmed that its long- standing chief financial officer Tushar Morzaria will retire from the lender, with his deputy Anna Cross set to take on the role from April. AERTEL ONLINE - RTE.IE/AERTEL Next ISEQ Dublin Stocks Business