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Bank charges: Barclays Capital set aside £1.7 billion for bonuses in last six months

Barclays Capital – the investment banking division of Barclays - set aside £1.7 billion for bonuses in the first half of the year, according to figures released this week.

The bank announced profits of £3.9 billion for the first six months of 2010 but has been criticised for the size of the bonus pool available to its 150,000 staff.

Lord Oakeshott, the Lib Dem Treasury spokesman, told the Guardian the contrast between the bankers and their customers couldn't be more different.

"It's back to business and bonuses as usual as if the crash never happened. But businesses and homebuyers in Britain are still struggling for loans on sensible terms," he said.

Last month financial secretary Mark Hoban addressed an annual dinner of the British Bankers' Association and criticised the bonus culture.

He said that the banking system must show the public that they're working in a way that "no longer rewards employees based on short-term performance whilst leaving investors and taxpayers exposed to the long-term risks". 

Posted by Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-800016419-ADNFCR

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