Barclays profits up 15%

Barclays unveiled annual profits of £5.28bn (€7.7bn) billion today as the group posted its share of the £34bn (€50bn) haul expected from the UK’s biggest banks.

The 15% improvement was in line with expectations, but included a 19% drop in profitability at Barclaycard after a greater hit on bad debt levels.

High street banking profits were up 8% to £2.45bn (€3.5bn), but the main driver of growth came from investment banking with a 25% rise to £1.27bn (€1.8bn).

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