A sharp drop in equities revenues in the final three months of 2015 pushed Barclays’ investment bank to a first quarterly loss in two years, stunting profit growth for the year in the unit’s final set of results before its head Tom King steps down on March 4.

Barclays' investment bank made a pre-tax loss of £146 million in the three months to December 31, according to its full-year results published on March 1.