Barclays 2010 profits £6.07 billion

Barclays full year profits reported this morning came in at a third higher than 2009 at £6.07 billion, after you strip out the one off sale of its fund management arm in 2009.

This was higher than expected and Barclays are one of the early risers on the UK stock market, their shares rising by over 2% at the open on these positive results.

The Bank has put aside £2.9 billion for bonus payments, slightly less than last year (£2,6 bn) but to compensate high value staff, average salary packages have risen. Bank Bonuses are still a touchy subject, especially when they are seen to be paid from Bank rescue money, as in the case of Lloyds and RBS but Barclays did not need the Government to bail it out.

Preferring instead to turn to powerful Middle East contacts who have seen a very substantial return for huge financial support for Barclays taken back in 2008.

Funds put aside for bad debts at Barclays were down by 30% at £5.67 billion.