Barclays reported a sharp increase in half-year profits, driven by its investment banking division capitalizing on heightened market volatility linked to the Middle East conflict.
The bank’s trading arm generated significant revenue as global markets reacted to escalating tensions, allowing the lender to post strong financial results for the six months ending in June.
Barclays has increased its banker bonus pool by nearly 30%, a move that underscores the strength of its recent trading performance but has also reignited calls for a UK bank tax.
The robust performance has translated directly into higher compensation for staff.
Barclays has increased its banker bonus pool by nearly 30%, a move that underscores the strength of its recent trading performance but has also reignited calls for a UK bank tax.
The expansion of the variable pay fund comes as the bank’s chief executive rejects political pressure for a windfall levy on financial institutions benefiting from the crisis.
The results highlight how geopolitical instability is reshaping revenue streams for major financial institutions.