Barclays reports 21% fall

Barclays has reported a fall in profits as it set aside more funds to cover potential fines for misconduct.

Statutory pre-tax profits fell 21% to £2.26bn in 2014. The bank increased its provision to cover any fallout from a probe into currency market manipulation by £750m to £1.25bn.

Stripping out this and other provisions and charges, adjusted profits rose 12% to £5.5bn.

Boss Antony Jenkins was awarded a £1.1m bonus - his first as chief executive.

This pushed his total pay package to £5.5m for 2014.

But the bank reduced the overall pool of money allocated for bonuses by 22% to £1.86bn.

Provision for payment protection insurance (PPI) compensation was increased by £200m for the last three months of 2014, the bank said, taking the year's total to £1.1bn.

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