Barclays takes £330m blow

Tim Wallace
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BARCLAYS fourth quarter results will be around £330m worse than previously expected, the bank warned investors yesterday.

The results, to be published on 11 February, will include a £220m charge against costs as well as a £110m underperformance in its investment banking arm.

The lender is in the process of a major set of reforms, and is expected to begin closing some branches and moving some into Asda stores as more customers move online.