Rise to £675m after lifting EU bonus cap suggests lender may increase payouts to high-performing bankersBarclays has bulked up its half-year bonus pool for the first time in three years, raising bankers’ hopes of bigger annual payouts after the lender formally scrapped the EU bonus cap this month.
The bank put £675m towards its bonus pool in the first six months of 2024, according to Barclays filings. That is up from the £665m put aside for its staff bonus pot, which is made up of cash and shares, over the same period in 2023. That bonus pool will continue to be built up until the end of the year, with staff able to be paid up to 10 times their salary now that the EU cap has been set aside.It is the first time that the amount put aside for bonuses by mid-year has increased since 2021, and suggests Barclays may be more generous to high-performing bankers when it makes final pay decisions by the end of February. Continue reading…
Source link : https://www.theguardian.com/business/article/2024/aug/26/barclays-half-year-bonus-pool-payouts-bankers-eu-cap
Author : Kalyeena Makortoff Banking correspondent
Publish date : 2024-08-26 13:19:21
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