UK bank Barclays 2023 profit dips on restructuring costs

Business Desk

British bank Barclays said Tuesday that annual net profit slid 15 percent as it was hit by a large restructuring charge.

Profit after tax decreased to o4.3 billion ($5.4 billion) last year after a o900-million charge in the fourth quarter, Barclays said in a results statement. It also outlined a three-year plan to improve performance and return more cash to shareholders.