It has signed a separation agreement with its African business, which must now be approved by South African regulators.
“We are now just two months away from completing the restructuring of Barclays,” Mr. Staley said in a statement.
Net profit was GBP190 million, compared with GBP433 million a year earlier, as it took an GBP884 million impairment against the value of its African business.
The write-down reflected the cost of splitting the unit out and a fall in its share price as the South African economy stuttered.
“U.K. macro and South African politics will dictate whether [Barclays] escapes another capital raise,” said Chirantan Barua, an analyst at Bernstein Research.
Sony net profit halved due to film losses
Sony, the maker of Xperia smartphones and PlayStation consoles, posted a net profit of 73.3 billion yen ($A883 million) for the year to the end of March, compared with a net profit of 147.8 billion yen in fiscal 2015.
Sony forecast a net profit of 255 billion yen for the current financial year to March 2018, an operating profit of 500 billion yen and sales of 8 trillion yen.
Deutsche Presse AgenturSony’s net profit for the last financial year fell 50.4 per cent as its pictures division incurred huge losses.
For the January-to-March period, Sony booked a net profit of 27.7 billion yen, a turnaround from a net loss of 88.3 billion yen for the same period last year, while it logged an operating profit of 94.4 billion yen, compared with an operating loss of 92.9 billion yen the year before.
Sony said its operating profit for the year declined 1.9 per cent from fiscal 2015 to 288.7 billion yen, while sales fell 6.2 per cent to 7.6 trillion yen.
Federal Bank Q4 net profit jumps 25 times on lower provisioning
Provisions dropped 68% to Rs 123 crore from Rs 389 crore in March 2016.Net NPAs dropped to 1.28% of net advances from 1.34% a year earlier.
Net interest margin is likely to be around 3.25% he said.
Wholesale banking made a profit of Rs 120 crore compared with a loss of `53 crore a year ago.
“Total advances increased 27% to Rs 74,591 crore from Rs 58,791 crore in March 2016, led by a 34% growth in corporate advances and a 25% growth in retail and agriculture advances.
Segmental results released by the bank showed that both wholesale as well as retail banking swung to profit after recording a loss last year.