Barclays Q1 profit falls 9% as levy bill tipped at £100m

The bank, which declared a dividend of 1p for Q1, said total net income had fallen 8% to £7.4bn, driven by the "impaired economic environment" and a higher charge to its own credit. Adjusted profit before tax, excluding own credit and gains on acquisitions and disposals, rose 10% to £2bn. Barclays also revealed it is expecting to shell out £100m to cover its bill for the upcoming bank levy, although this has not been included in the results. It said: "The impact of the UK bank levy, for which legislation has not yet been enacted, is not reflected in these results in accordance with g...