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Barclays puts by £150m for Brexit uncertainty

by LLB Reporter February 21, 2019

written by LLB Reporter 21^st Feb 19 9:47 am

Banking giant Barclays has revealed due to Brexit uncertainty they have put by £150m, as a result profits have slipped 1% lower to £3.49bn.

The bank said they have put aside the Brexit charge of £150m in the last three months of 2018. The bank said this is to cover the “anticipated economic uncertainty in the UK,” as the bank’s credit card and corporate loan businesses could be impacted.

Jes Staley, chief executive of Barclays said, “2018 represented a very significant period for Barclays.

“In the course of the year, having resolved major legacy issues and reduced the drag from low returning businesses, we started to see the earnings potential of the bank, as the strategy we have implemented began to deliver.”