Fri, 10 Feb 2012 10:38:17 GMT
Barclays reports a 16% drop in its profit
One of the oldest British banks Barclays Plc posted a 16% decline in its profit as investment bank unit's revenue fell. Lender's net income in 2011 tumbled to GBP 3 billion (USD 4.74 billion) compared to GBP 3.56 billion in previous year. Economists predicted a drop to GBP 3.27 billion. Revenue at bank's securities unit fell 22%.