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Barclays annual profit more than doubles as bad loans ebb -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Barclays logo is visible on a glass lamp outside a Branch of Barclays Bank in London’s City of London Financial District, September 4, 2017. REUTERS/Toby Melville

LONDON (Reuters). Barclays (LON) announced that its annual profit increased more than twice due to the plunge in bad loans charges and continued strong performance of its investment bank despite market volatility during the COVID-19 pandemic.

On Wednesday, the British lender reported profit before taxes for 2021 at 8.4 billion Pounds ($11.42 Billion). This is an increase of 3.1 billion Pounds a year earlier and more than analysts expected of 8.1 Billions.

($1 = 0.7357 pounds)

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