Barclays has announced a fall in profits as it set aside more funds to cover potential fines for misconduct. The drop comes, as boss Antony Jenkins is awarded his first bonus as chief executive.
Statutory pre-tax profits fell 21% to £2.26bn in 2014. The body increased its provision to cover any fallout from a probe into currency market manipulation by £750m to £1.25bn.
If trim this and other provisions and charges, adjusted profits rose 12% to £5.5bn.
Boss Antony Jenkins was awarded a £1.1m bonus - his first as chief executive, pushing his total pay package to £5.5m for 2014.
But the bank reduced the overall pool of money allocated for bonuses by 22% to £1.86bn.
Provision for payment protection insurance (PPI) compensation was increased by £200m for the last three months of 2014, the bank said, taking the year's total to £1.1bn.
Forex manipulation
In November last year, UK and US regulators fined six banks (HSBC, Royal Bank of Scotland, Swiss bank UBS, and US banks JP Morgan Chase, Citibank and Bank of America) a total of £2.6bn for trying to manipulate foreign exchange rates.
A separate probe into Barclays is still lingering.
Every day, more than $5tn worth of currencies are traded in the foreign exchange markets, dwarfing the stock and bond markets, with about 40% of the world's dealing is thought to go through London trading rooms.
As of Barclays, while pre-tax profits in the personal and corporate banking divisions rose 29% to £2.89bn, and Barclaycard profits rose 13% to £1.34bn, the investment bank fared less well. The bank's profits dropped 32% to £1.38bn in 2014 as income fell 12%, reflected in a 24% reduction in the bonus pool for staff at the business.
Senior analyst at Bernstein Research, Chirantan Barua, noticed that Barclays' investment bank - once the group's profit-driving engine room - had put in a "a much weaker performance than peers" such as Goldman Sachs and Citigroup.
