Barclays reports rise in full-year profits

Barclays half year profits fell 21%Image copyright
Getty Images

Barclays has reported a rise in profits after making “strong progress” in restructuring.

The bank reported a profit before tax of £3.2bn for 2016, up from £1.1bn the year before.

Its reorganisation has included the sale of its Africa business.

Barclays has also been selling off other parts of the business which the bank deems “non-core”, and it said it would bring forward the closure of the unit dealing with this by six months.

Chief executive Jes Staley said the “non-core” unit would close on 30 June.

“We are now just months away from completing the restructuring of Barclays, and I am more optimistic than ever for our prospects in 2017, and beyond,” Mr Staley said.

Facebook

Get the Facebook Likebox Slider Pro for WordPress