Barclays shares closed down 7% after reporting a drop in full-year profits, a dividend cut and a restructuring including reducing its stake in Africa.
Underlying annual profits for 2015 fell 2% to £5.4bn. The bank said it would cut its dividend by more than half to 3p per share in 2016 and 2017.
Barclays also announced a further £1.45bn provision for PPI mis-selling.
It said it wanted to form two, main core divisions – Barclays UK and Barclays Corporate and International.
The bank said it would slim down its 62.3% stake in its Africa business in …
Read the full article at: http://www.bbc.com/news/business-35693952
