LONDON — Barclays on Wednesday reported a full-year net profit of £6.38 billion ($8.67 billion) for 2021, ahead of analyst expectations of £5.75 billion, as its corporate and investment banking division boomed.

Fourth-quarter net income attributable to shareholders came in at £1.12 billion, outstripping a mean forecast of £756.5 million, according to Refinitiv data.

The figures marked a significant improvement from the £1.53 billion net profit reported in 2020 and £220 million in the fourth-quarter of that year, as the U.K. navigated fresh nationwide Covid-19 lockdowns.

This turbulent last quarter for 2021 saw the British lender experience a long and difficult recovery. CEO Jes Staley resigning in NovemberFollowing an investigation into the relationship between him and his wife, regulators commenced Jeffrey Epstein. C.S. replaced him. Venkatakrishnan.

After the bank’s third-quarter earnings, Staley said 2021 was going to be “quite a year” for Barclays, as a significant boost from its corporate investment banking division continued to propel the group’s return on tangible equity — a key ratio used to assess profitability.

This is an breaking news story. Keep checking back to see more.