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Bank charges: Barclays paid over £1m to 428 staff

In 2012, Barclays paid over £1 million to 428 of its staff and more than £5 million to five employees.

Chief executive officer (CEO) Antony Jenkins was not among the top five earners for the bank as he was paid £2.6 million in total.

This information on Barclays employee’s pay was released in the bank’s annual report. It was decided that the bank should include information about staff pay in a move to make the bank more transparent.

Staff were paid this money during a year when the bank was hit by scandals such as Libor and payment protection insurance (PPI) mis-selling.

Last year, the bank was fined £290 million for being involved in the Libor rigging scandal. After the bank was found guilty of Libor rigging, the bank’s former CEO Bob Diamond stepped down.

The bank also had to set money aside in provisions for claims against mis-sold PPI. This was a scandal across the retail banking sector that has seen more complaints than any other banking product.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801553560-ADNFCR

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