Dec

Barclays Takes $1.3 Billion One-Time Hit From U.S. Tax Bill

Lender says measures positive in future for U.S. earnings
Barclays says ultimate impact of changes still under review

Barclays Plc will take a charge of about 1 billion pounds ($1.3 billion) this year as a result of the recent U.S. corporate tax overhaul driven by President Donald Trump.

However, the British lender expects its future U.S. after tax earnings to be positively impacted by the changes, it said in a statement on Wednesday. The one-off charge in the financial year ended Dec. 31 will reduce its CET1 capital ratio by about 20 basis points, it said…

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Barclays Takes $1.3 Billion One-Time Hit From U.S. Tax Bill

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