Barclays’ profit set for £6bn

Barclays is to attempt to turn the tide on “banker bashing” this week when it announces that it has exceeded its Government-set lending targets and made profits of as much as £6bn in 2011 despite tough trading conditions.

The British bank, moving into the eye of the storm over bankers’ pay with an expected £11m remuneration total for its chief executive, Bob Diamond.... The confirmation will come as the bank unveils full-year results for the year to December 2011, expected to show a profit of £5.5bn-£6bn, based on consensus estimates.... On top of that, he received a salary of £1.35m and could be given long-term incentives worth as much as £6.75m which will vest in three years. With other benefits, that will bring his total maximum compensation for the year to £11.7m.

For 2010, when Mr Diamond was head of Barclays Capital, he received a £6.5m bonus, £2.25m of long-term incentive awards deferred for three years, a £250,000 salary and £268,000 of other benefits, totalling £9.3m.......

Lloyd Blankfein, chief executive of investment bank Goldman Sachs, has been awarded a $7m (£4.4m) bonus in shares, cutting his award for the first time since the financial crisis. The award comes on top of his $2m salary. Mr Blankfein has received $96.6m in share options over the past six years, despite the financial downturn. 

                                            ..................... James Quinn