Barclays is reported to be considering ending its presence in continental Europe.
This would involve the sale of its business in Portugal, Spain, France and Italy.
Chief executive Antony Jenkins has considered this option as part of his plan to restructure and reduce costs. The bank’s strategic review is due to be published on Thursday.
He has already warned that profits for the first quarter of this year will be down due to a reduction in fixed-income trading.
None of this has prevented Barclays from handing itself stiff bonuses. Two weeks ago, a protest vote was mounted at its annual shareholder meeting over the matter.
Shareholders have put Mr Jenkins under pressure to find solutions for its investment arm which has struggled to generate returns above its cost of capital.
Barclays has considered selling its operations in France and Italy before but apparently could not find buyers. Mr Jenkins knows the bank’s continental operations well having been involved in buying its credit card operations in Portugal and Italy.
Barclays declined to comment.
