Banking giant Barclays hailed a "strong set of results" today, with a nine per cent rise in pre-tax profits for last year.
The company said its performance - a pre-tax profit of £3.61 billion - reflected the benefits of having a diversified business, although charges for bad or doubtful debt had risen 35 per cent to £1.15 billion.
Chief executive Matthew Barrett said he was "cautiously optimistic" about prospects, adding: "We feel good about 2001 and are in good shape going into 2002."
Barclays' operating income rose 11 per cent to £11.36 billion, while operating profit lifted 10 per cent to £4.13 billion.
His statement also outlined plans to expand Barclays outside the UK, with continental Europe becoming more of a focus.
Barclays employs around 78,000 staff and has more than 2,000 UK branches.
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