Barclays profits jump a third to £6.07bn

Barclays pre-tax profits jumped almost a third in 2010 to £6.07bn, slightly higher than analysts were expecting.

The bank reports a 32% increase on the £4.59bn profit the bank made in 2009, Barclays said. Money put aside for bad loans fell 30% against a year earlier, at £5.67bn. Group performance-related pay was down 7% to £3.4bn compared with 2009, but up 12% at the bank's investment banking arm, Barclays Capital (BarCap). Bonuses at Barcap totalled £2.6bn, while profits at the division almost doubled to £4.78bn on revenues of £13.6bn. Barclays Wealth, the bank's private wealth management arm, reports pre-tax profits up 14% to £163m, compared to £143m in 2009, led by principally strong g...