CEO Jes Staley paid £4m with dividends to restart as bank sets aside £4.8bn for possible surge in loan defaults
Barclays has paid its chief executive, Jes Staley, £4m and handed larger bonuses to its bankers despite a 30% drop in annual profits during the Covid crisis.
Pre-tax profits fell to £3.1bn for 2020 from £4.4bn a year earlier, with earnings hit by a jump in bad debt provisions. The bank put aside a total of £4.8bn to cover a potential surge in loan defaults linked to the coronavirus outbreak, slightly lower than the £5bn that analysts had expected.
