Barclays records £11.6bn pre-tax profit
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Barclays Group has reported a 92 per cent rise in pre-tax profits, from £6.1bn to £11.6bn, following the sale of its investment business Barclays Global Investors for £6.3bn.
For the year ending December 2009, Barclays recorded a pre-tax profit of £5.3bn excluding the sale of Barclays Global Investors, which is 13 per cent down on last year’s figures of £6.1bn.
Barclays recorded a record income of £30.1bn, 34 per cent up on 2008, and gross new lending to UK households and businesses totalled £35bn during 2009.
In 2009, Barclays’ balance sheet was reduced by 33 per cent to £1.4bn, from £2.1bn in 2008.
Barclays chief executive John Varley (pictured) says: “Economic slowdown last year impacted most parts of the world in which we operate. But despite that, I am pleased with the way we have performed both in 2009 and in the two tumultuous years which preceded it. That performance allows us to enter 2010 with confidence.
‘The steadiness of our profit performance over the past three years, even after absorbing the impact of higher impairments and the continued legacy of credit market writedowns, is attributable to the diversification of income that we have built during recent years.”
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