Shares of U.K. bank Barclays fell Tuesday after it announced further restructuring, a dividend cut and an 8 percent fall in statutory pre-tax profit last year to £2.1 billion ($2.9 billion).
As part of its full-year results, Barclays announced that it will be simplifying its business structure to two sibling divisions: Barclays U.K. – which will become a U.K. ring-fenced bank – and Barclays Corporate and International. As part of the restructure, Barclays is looking to sell down its 62.3 percent holding in its African business.
