Barclays profit climbs 8%

3 August 2009

Pre-tax profit at Barclays climbed to almost $5 billion during the opening six months of the year.

The bank announced a figure of $4.98 billion for the first half of 2009, an eight per cent increase on the amount recorded in the same period of 2008.

Income rose 37 per cent to $27.2 billion, with Barclays' investment management and banking division recording a 44 per cent increase in pre-tax profit.

However, performance of its retail banking division was weaker, with this area of the business seeing profits fall by more than half to $448 million.

Chief executive John Varley said that Barclays has benefited from a "diversified business base" in what have been "challenging market conditions".

"Our goal for 2009 is very clear: we seek to deliver another year of solid profitability. Our first half performance is a good start to this," he remarked.

Last week, the bank's website was hit by a glitch that prevented some customers from accessing their accounts online.

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