Barclays Profit Misses Estimates as Bank Nears End of Revamp
- Firm takes charge on accelerating costs of deferred bonuses
- Shares fall as capital strength queried on pension shortfall
Barclays' CEO Looks Forward to Ending Restructuring
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Barclays Plc posted fourth-quarter profit that missed analysts’ estimates on a charge for accelerating the costs of deferred bonuses, while the bank signaled progress in efforts to divest its Africa unit and sell off unwanted assets.
Fourth-quarter pretax profit was 330 million pounds ($410 million), compared with a loss of 2.1 billion pounds a year ago, the London-based lender said in a statement Thursday. Adjusted pretax profit of 284 million pounds fell short of the 646 million-pound average estimate of five analysts surveyed by Bloomberg News. The shares fell after analysts questioned a potential shortfall in the banks’ pension scheme that could hit capital.