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Journalism of Courage
Investment bankers in Barclays are set to receive bonus and salary packages worth an average of 250,000 pound per head for the last six months’ work,media report says.
“Barclays’ high-rolling investment bankers are set for bonus and salary packages worth an average of 250,000 pound a head for six months’ work,” the Sunday Times said.
After a robust performance by Barclays Capital,the investment banking arm of the British lender,Barclays is setting aside a remuneration pot of up to 5 billion pound for the first half of the year,the newspaper added.
The investment-banking arm is expected to help Barclays report a profit of about 3 billion pound,despite large provisions for bad debts.
This week all the big British banks will report half-year figures and most are back in the black including a possible 5 billion pound profit at Lloyds and the Royal Bank of Scotland (RBS) is likely to surprise investors by saying it has only broken even. HSBC is likely to post underlying profits of 1 to 4 billion pound.
Northern Rock,is however,expected to report losses to the tune of 700 million pound.
