Barclays Warns It’s Very Unlikely to Hit Profitability Goal
- Bank may cut costs by slashing awards, finance director says
- Coronavirus, low interest rates among headwinds for the lender
This article is for subscribers only.
Barclays Plc might struggle to reach its profitability target for the year and could cut discretionary awards as the coronavirus pandemic disrupts its business, joining a string of global lenders.
“It’s going to be a tough year for earnings,” Tushar Morzaria, finance director, said on Tuesday at the Morgan Stanley European Financials Conference, held virtually this year.