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Barclays to cut bonus pool to below £2bn

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A picture shows the Barclays Bank headquarters in Canary Wharf, east London. (Pcruciatti , Shutterstock)
A picture shows the Barclays Bank headquarters in Canary Wharf, east London. (Pcruciatti , Shutterstock)

London- Barclays is set to reduce its bonus pot for 2014 to less than £2bn, down at least 16% from its controversial payout in the previous year, Sky News reported.

Barclays, which has the largest investment bank of Britain's lenders, will say bonuses fell below £2bn for 2014 when it reports results on March 2, compared with 2.4 billion for 2013, Sky said, citing an insider.

Lloyds Banking Group and Royal Bank of Scotland will also both reduce their bonus pots for 2014 when they report next week, and payouts across the three banks will be about 15% lower than for 2013, Sky said.

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