Shares of the large British bank Barclays (NYSE: BCS) are trading about 9.5% lower as of 11:24 a.m. ET today after the lender reported earnings results for the fourth quarter of 2022.

Barclays reported a fourth-quarter profit equivalent to $1.6 billion on total revenue of close to $7 billion, beating analyst estimates.

However, Barclays continued to deal with litigation and conduct charges related to an error earlier in 2022 when the bank sold more securities in the U.S. than had been registered with the Securities and Exchange Commission. Barclays also dealt with rising costs related to preparing for higher future loan losses.

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Source Fool.com