Barclays' investment banking division saw Q1 earnings fall from £1.31BN in 2013 to £668M in 2014. This fall was largely as a
result of a 41% fall in fixed income, currencies and commodities profits.
However, by the magic of accounting, pre tax profits (on an adjusted basis wherein movements in the value of the bank's debt are stripped out) fell only 5% to £1.69BN.
However, by the magic of accounting, pre tax profits (on an adjusted basis wherein movements in the value of the bank's debt are stripped out) fell only 5% to £1.69BN.
No comments:
Post a Comment