Barclays' Chiefs Refuse Bonuses Despite Record Results - Interview With CEO

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• USA - English

LONDON, February 16, 2010 /PRNewswire-FirstCall/ -- Barclays, the UK Bank which has remained profitable and avoided state bail outs throughout the financial crisis, today reported 2009 full year results with income up GBP8 billion, a trebling of underlying profits and a core Tier 1 capital ratio of 10%.

In a video interview on http://www.cantos.com/company/barclays, John Varley, Group Chief Executive, says: "I think the headline is more income, more profit and less risk."

Mr Varley and Barclays President Bob Diamond waived their rights to any bonuses of any kind for 2009. In the interview the Bank CEO admits: "Banker's pay is a matter of intense interest and I would say intense concern." He goes on to say that banks and bankers should "recognise why it's a matter of concern and behave accordingly."

Mr Varley re-asserts his belief that big banks can be successful. He expresses confidence that Barclays will generate substantial profits in 2010 and while he believes the economic outlook is fragile, it is also more stable.

The interview and transcript are available now on http://www.cantos.com.

Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email [email protected] or phone +44-207-936-1352.

SOURCE Barclays Bank