Record profits reported by Barclays

Feb 16 2010 By nebusiness

Banking giant Barclays posted record annual profits of £11.6bn for 2009 today as its two most senior bosses turned down bonuses for the second year in a row.

The pre-tax profits - 92% ahead of 2008 - were buoyed by its investment banking arm and the sale of part of the business last year to raise funds.

But chief executive John Varley and president Bob Diamond have sacrificed payouts in the light of the "intense public interest and concern" over bankers’ pay, Barclays said.