| Kippreport.com

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Barclays’ profit doubles in 2009

February 16, 2010 4:55 by kippreport

UK-based Barclays bank said on Tuesday that its profits before tax for 2009 increased to reach GBP11.6 billion ($18.2 billion), up 92 percent from the previous year. Net profits reached GBP 9.4 billion ($14.7 billion), more than double the GBP 4.4 billion ($6.9 billion) it made in 2008.

Its profit figures were boosted by a GBP6.33 billion ($9.9 billion) gain that it made through the sale of Barclays Global Investors to US firm BlackRock last year. The bank said it awarded bonus payouts of GBP2.7 billion ($4.2 billion) to the staff for 2009, but added that CEO John Varley and president Bob Diamond had turned down the bonuses.

Tags: 2009, Barclays, increases, profit