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BREAKING NEWS

Barclays see profit drop with early release of headline figures

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Barclays see profit drop with early release of headline figures

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Barclays have seen a drop in profits last year by a quarter to 5.2 billion pounds sterling – almost 3.5 billion euros.

The figures missed analysts forecasts and have raised expectations the bank will step up cost cutting as investment bank earnings wane. It’s already reported to be planning to axe several hundred jobs at a senior level.

The British bank will not report its full results until Tuesday but took the unusual step of releasing its headline profit figure a day early. The move it said was to “provide clarity” following a media report with numbers close to the figures.