Barclays has reported a fall in annual profits as it announced a group-wide shake-up and took a further hit for payment protection insurance (PPI) mis-selling.
The banking giant posted underlying pre-tax profits down 2% to £5.4 billion.
The results came as it said it would split the group into two divisions - Barclays UK and Barclays Corporate and International - and “sell down” its stake in its Africa business over the next two to three years.
It also announced that it would take another PPI charge of £1.45 billion, taking its total to £7.42 billion.
The bank said it awarded staff bonuses - including other incentives - of £1.7 billion for 2015, down from £1.9 billion the year before.
This included £976 million in bonuses across its investment banking business, down from £1 billion in 2014.
But it said £661 million of bonuses for 2015 across the group were deferred, while the investment bank deferred £579 million of its awards for the year.
Barclays said it was splitting the group into two divisions as part of ring-fencing rules to separate riskier investment banking from retail banking in order to protect public savings in the event of another financial crash.
Jes Staley, group chief executive, said the performance showed Barclays “is fundamentally on the right path, and is, at its core, a very good business”.
Barclays also warned about the impact of a Brexit if the UK votes to leave the European Union in June’s referendum.
In the bank’s annual report, published alongside the results, the group said a “disruptive and uncertain” exit from the EU, combined with wider woes in commodity and financial markets, would hit investment and confidence, which could have a “material impact” on growth across some of its major markets and as a result, hit the bank’s performance.
Chairman John McFarlane said: “We think it is in the interests of our customers and clients for the UK to remain in the EU.”
He added: “We have modest interests domestically on the Continent, but provide significant services to European companies from London.
“More importantly, we are heavily reliant on a successful UK domestic and international economy and feel this is enhanced through the UK’s membership.”
The annual report also revealed £3.4 million in pay and bonuses for former chief executive Antony Jenkins, who was sacked last July.
He picked up £516 million in role-based pay - which the group has introduced to side-step EU rules capping banker bonuses - as well as a £505 million annual bonus and £1.5 million in long-term share awards.
Mr Staley was awarded £96,000 in role-based pay despite having only taken on the top job on December 1, although this is paid in shares and deferred over a five-year period.
The bank’s new boss is paid £1.2 million in annual salary and £1.15 million in role-based pay, with annual bonuses worth a potential 80% of salary and long-term share awards worth a possible £1.44 million.