Barclays bank hikes profit, cuts bonuses

British bank Barclays said Tuesday that annual net profit climbed 36 percent to GBP3.564 billion (€4.236 billion) in 2010, alongside an announcement that it had cut bonuses.

15 February 2011, 12:00am

Barclays said profit after tax increased by more than a third last year compared with net earnings of GBP2.628 billion in 2009. It added that it was paying GBP3.4 billion in staff bonuses, down 7.0 percent compared with 2009.