That stock News

Barclays has so far put aside ?1. 3bn to pay premiums discretionary cash in 2010.?Photo: Alamy

Announces its financial results for the first nine months of the year, Barclays said that he had set aside 5.3 ￡ 2 to pay bonuses to staff.

Based on the ￡ 2 8bn Barclays paid in premiums in 2009, this bank places on prices pay more close to ￡ 3 this year, although the Bank declared final decisions on prices were made only at the end of the year.

Until 2010, Barclays has developed aside United for ￡ 1 pay cash discretionary bonus ￡ 300 m discretionary Awards long-term and ￡ 640 for deferred pay-outs from previous years.

Chris Lucas, Chief Financial Officer Barclay, said the level of premium payments the "markets at stake," adding that the Bank had increased the proportion of earnings has been postponed.

The majority of Manna from bonus is likely to go to 25,000 employees of Barclays Capital, investment banking arm Bank, which has experienced rapid growth in the last decade to become the main source of profit for the group.

However, a dramatic turnaround in the exercise of Barclays Capital in the third quarter - it plunged into a profit of 369 million from ￡ 182 m loss ￡-saw the benefit of the group for the period of slowdown 76pc 327 million from ￡ .the profit before taxes for the first nine months, to the exclusion of the movements in the value of the Barclays, own debt rose from 4pc to. 27bn ￡ 4.

Fixed income securities, currencies and commercial products, the largest component of division, Barclays Capital recorded one gains fall 28pc of income of ￡ 1. 95bn, while actions and backend services revenue decreased by 34pc 359 m ￡.

However, it is changes in the value of own debt Barclays which was the main culprit for the fall in the fortunes of Barclays Capital, with a load of 947 m ￡, taken in the third quarter, compared with a gain of 953 million from ￡ in the second quarter.

The analysts of Credit Switzerland said they saw little chance of the Bank to improve its performance in the fourth quarter.

John Varley, Director General of Barclays will be replaced at the beginning of the next year by Bob Diamond, the former head of Barclays Capital, said performance that the Bank has been "flexible" despite what he describes as an "economic environment mastered.

Barclays said he saw no need to raise new capital and would not be following the example of the other main groups banking European who raised money for months on the back of the new capital rules decided in September in the city of Basel Switzerland.

Under the new rules of capital of banks in the world will be hold more capital for the moment, but Barclays said he should be able to mitigate the effects of the new regulation and thought that he could reduce his active weighted net risk by about 50 billion ￡ to ￡ raise.

Barclays shares closed up to nearly $ 4pc Tuesday to 297 percent, helped by the announcement of a 1 percent third dividend interim, payable 10 décembre.Cela brings the total for the first nine months to 3 p tripled the amount agreed upon by the Bank at the same point in 2009.

View the original article here