Barclays profits almost treble as overhaul nears end

Barclays boss Jes Staley said the bank is 'just months away' from completing an overhaul as he unveiled a surge in annual profits.

Barclays has sold off unwanted businesses to focus on its UK and US operations. Picture: Leon Neal/AFP/Getty Images

The lender said bottom-line group profits nearly trebled to £3.23 billion, up from £1.15bn a year earlier, while it posted a 4 per cent rise in underlying pre-tax profits to £6.4bn for its core business – Barclays UK and Barclays International.

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Staley, who has been selling down and offloading unwanted businesses to focus on its UK and US operations, said the group had “accomplished a lot in a year”.

He added: “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.”