New dividend cheer at Barclays bank

L Lender says restructuring on track as it makes £3.5 billion profit

manipulation. Lloyds took an extra £600m charge for the PPI scandal.

Barclays gave no update on a Financial Conduct Authority inquiry into Staley over his attempts to unmask a whistleblower who had raised concerns about a senior executive at the bank.

However, the lender said the financial watchdog had begun a new probe into its systems and controls for the handling of customers with troubled unsecured loans. It said it could not yet estimate the financial impact.

Staley recently completed a group restructuring, including offloading non-core businesses to focus on the UK and US. Barclays has shed 60,000 jobs as part of the shake-up, while also selling off businesses such as the African division.

The bank announced a 3p-a-share dividend and announced it would more than double the payout in 2018.

Barclays’ annual report published alongside the results showed that Staley’s total pay package fell to £3.9m in 2017 from £4.2m in 2016.

The report also showed that 369 employees earned more than £1m last year, while 11 took home pay deals worth more than £5m.

Of these, one in three are Ukbased.