Barclays records $6.6bn first half profit

27 July 2012

Barclays posted a healthy pre-tax profit for the first half of 2012, despite its ongoing problems relating to the Libor manipulation scandal.

According to figures released by the major British bank this morning (27 July), it raked in £4.2 billion ($6.6 billion) during the six-month period ending on 30 June - a figure that represents a 13 per cent hike on the corresponding period last year.

Meanwhile, the financier's investment banking division also fared well in the second quarter of 2012 by recording income of £3 billion, which is five per cent higher than the level achieved in Q2 of 2011.

At present, Barclays is in something of a stage of limbo, as it looks to appoint a new chief executive following Bob Diamond's resignation and a new chairman ahead of Marcus Agius' impending departure.

However, Mr Agius insisted the bank's half-year results prove the organization continues to "deliver a good financial performance in the context of the current macroeconomic environment".

By Asim Shah

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