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| Barclays increases staff bonus pool | Barclays increases staff bonus pool |
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| Barclays has said it increased the total amount it paid on staff bonuses last year. | Barclays has said it increased the total amount it paid on staff bonuses last year. |
| The bank's total bonus pool for 2013 rose by 10% to £2.38bn, from £2.17bn in 2012, with the investment bank's bonus pool increasing by 13%. | The bank's total bonus pool for 2013 rose by 10% to £2.38bn, from £2.17bn in 2012, with the investment bank's bonus pool increasing by 13%. |
| "At Barclays, we believe in paying for performance and paying competitively," said chief executive Antony Jenkins, who has waived his own annual bonus. | |
| The details come a day after Barclays released its full-year profit figures. | The details come a day after Barclays released its full-year profit figures. |
| The bank's statutory pre-tax profits for 2013 rose to £2.9bn, while adjusted pre-tax profits fell to £5.2bn. | The bank's statutory pre-tax profits for 2013 rose to £2.9bn, while adjusted pre-tax profits fell to £5.2bn. |
| Barclays said its profits were hit by restructuring the bank last year, including its withdrawal from certain lines of business, as well as legal costs. | |
| Overall, the bank's compensation-to-income ratio rose to 43.2% from 40% in 2012, well above the bank's mid-30s target. | |
| The bank said the bonus increase was in the long term interests of shareholders, but said it was still aiming for a mid-30s ratio over "the medium term". | |
| Mr Jenkins is trying to revamp the image of Britain's third-largest bank, after the aggressive culture of former Barclays boss Bob Diamond culminated in a £290m fine for rigging Libor rates. | |
| Mr Jenkins told Radio 4 that it had made "substantial progress" in transforming Barclays into what it calls a "go-to" bank, which is attractive and open to customers, but said further work was needed. | |
| "We do have a long way to go and I acknowledge that," he added. |