Robert Edward Diamond, Jr. - Group Chief Executive, Barclays PLC
Barclays may be forced to re-evaluate its medium-term profit objectives after enduring its worst three-month period since 2008 at the end of last year.
That is according to chief executive Bob Diamond, who has today (10 February) admitted his company might need to set lower targets for the coming years due to the pressures the financial sector is currently under.
During the company's strategic review last year, Mr Diamond announced the bank was aiming for a 13 per cent return on equity over the course of the next two years.
However, the issues caused by the ongoing debt crisis in the eurozone have caused this figure to now be seen as unrealistic.
"13 per cent remains absolutely the right target and it's very achievable, but we may not achieve it in 2013 given the impact of the external environment," Mr Diamond stated.
Recently, it emerged that Barclays is planning to offer its chief executive a bonus of $3.9 million for his work in 2011.
By Tony Aynsley
