MORTGAGE and tax litigation costs knocked
Profits came in at
But for the year as a whole profits came in at
Group revenues rose 10 per cent on the year to
New litigation costs hit the fourth quarter numbers with the bank putting aside
The charge hit
Cost cutting also continued - headcount fell three per cent on the year to 46,000. At the same time compensation per head fell eight per cent, totalling
Return on equity increased from 3.9 per cent in 2012 to 7.5 per cent in 2013.
On a look-through basis its Basel III core equity tier one capital ratio climbed to 10.3 per cent at the end of the year.
The bank's shares increased 1.52 per cent on the day.
"We are confident the continued momentum we see in our strategic businesses, combined with the successful execution of the run-off of positions and losses in the nonstrategic units, will allow us to achieve our targeted return on equity of 15 per cent over the cycle," said chief executive
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