Barclays' share price tumbled 11 per cent in mid-morning trading, before being halted briefly.
Trading was resumed shortly afterwards, but the share price was still down around 10.6 per cent at pixel time.
1 March 2016 @ 10:15amBarclays (BARC)
The bank unveiled plans to simplify its structure this morning, which will include reducing its stake in its Africa division "to a level which permits accounting and regulatory deconsolidation over the next two to three years". It will also split the bank into two divisions - Barclays UK and Barclays Corporate & International.
Pre-tax profits for 2015 were eight per cent down on the year before, dropping to £2.1bn, in part because of continued fines for ongoing issues such as PPI and forex. Its Africa arm also had a disappointing performance.
As a result, it was bottom of the FTSE 100 for much of the morning, vying with Ashtead Group for worst position of the day.