Barclays chief executive Antony Jenkins is to waive his bonus for 2012 after a "very difficult" year for the scandal-hit bank.
Mr Jenkins, who took on the role last August, said it was "only right that I bear an appropriate degree of accountability" following a year of devastating reputational blows for the group, including its £290 million settlement for Libor rate rigging.
The move follows reports that Barclays was preparing to pay Mr Jenkins a bonus worth at least £1 million for 2012.
The maximum bonus he was entitled to was £2.75 million - or 250% of his £1.1 million salary.
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