Adjusted pretax profit for last year was £5.2 billion (R95bn),
The banking group raised about £5.8bn from investors in a rights offering last year to appease regulators' concerns about the bank's capital strength. Jenkins is cutting jobs, including hundreds of positions at the investment banking operation, to remove £1.7bn of costs by next year.
"It's difficult to say because of a lack of detail, but if the miss is because of costs to achieve [Jenkins's overhaul plan], then we will take that as a positive," said
The stock rose 1.6 percent to £2.76 as of
"Any marginal disappointment against wider sell-side expectations will have come within
The unit probably caused the bulk of a "cost overrun" in the fourth quarter, he wrote in a note to investors.
Jenkins, who is struggling to restore trust in the bank following a series of scandals, said last month it would take a £330 million charge relating to penalties and lawsuits in the fourth quarter.
Yesterday's release of earnings comes a day after the banking group said it was in talks with regulators about a possible criminal leak of client account information.
As many as 27 000 customer files containing personal and financial information were taken, the
It was unclear how the files were stolen, the newspaper said, adding that data was sold to brokers to be used for "investment scams".
Statutory pretax profit rose to £2.9bn, the company said. That is up from £Öm in the year-earlier period.
The bank released the data after the Financial Times reported the figures earlier yesterday. -
Most Popular Stories
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Twitter Offers App Install Ads
- Judge Tells Dad to Quit Emailing His Kids in All Caps
- Legalize Marijuana But Not Hard Drugs, Say Americans
- Michaels Data Breach May Affect 2.6 Million Cards
- Gabriel Garcia Marquez Dies at 87
- 'Boats 'N Hoes' PAC Sunk by Complaint
- Natural Gas Shoots Up on Bullish Stockpile Report
- Naya Rivera and Lea Michele: The 'Glee' Fight That Never Was?
- Chipotle Plans First Price Rise in 3 Years