London Daily

Focus on the big picture.
Monday, Jul 07, 2025

Barclays reveals record annual profits and £22m Staley share award freeze

Barclays reveals record annual profits and £22m Staley share award freeze

The bank rewards both shareholders and staff as its annual profits almost treble thanks to the performance of its investment banking arm.

Barclays has revealed a leap in annual profits to a record £8.4bn and that share awards currently worth around £22m to former chief executive Jes Staley have been frozen, as he contests the findings of a regulatory probe into his relationship with Jeffrey Epstein.

The bank confirmed a story by Sky News on Tuesday when it said the board had decided against allowing long-term share awards to vest as scheduled but did not rule out granting the awards in future.

Mr Staley quit Barclays in November last year after he and the bank were made aware of the preliminary conclusions of the investigation by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

Jes Staley left Barclays last November, telling staff he did not want his battle with the FCA and PRA to become a distraction


It examined how Mr Staley had characterised his historic business relationship with Epstein to Barclays from the time he ran the private banking arm at JP Morgan.

The investigation, which was launched after Epstein's death while awaiting trial in 2019, made no findings that Mr Staley saw, or was aware of, any of Epstein's sex crimes, Barclays said last year.

The bank said on Wednesday that its annual results could be credited to Mr Staley's tenure.

Profits almost trebled when compared to the £3.1bn achieved in 2020.

The performance was driven by lower bad loan charges - after almost £5bn was set aside last year - with £700m of that sum now released.

It also cited a strong performance from its investment banking arm over the course of the year.

Barclays revealed a bonus pool of £1.9bn and said it would buy back one billion pounds of its own shares and increase its full-year dividend to 4p-per-share.

Shares rose almost 3%.


John Moore, senior investment manager at Brewin Dolphin, said: "The bank is now ahead of where it was pre-pandemic in share price terms and the impairment release points to confidence in its lending book.

"The increased dividend and share buyback programme are rewards for patient shareholders, and the sense of optimism in today's statement suggests there could be more to come.

"Barclays is in a strong position and, with a more diversified income base, looks to be one of the best positioned among the UK's major bank(s)."

Mr Staley was succeeded by C.S. Venkatakrishnan - known as Venkat - who signalled at that time that he backed his predecessor's strategy - including its investment banking division.

Barclays confirmed its long-standing chief financial officer Tushar Morzaria had decided to retire, with his deputy Anna Cross set to take on the role from April.

Newsletter

Related Articles

0:00
0:00
Close
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
×