Barclays profit up 44pc

BARCLAYS has reported A pre-tax profit of £3.95bn for the first half of 2010.

The lion share of the profit came from the bank's investment banking arm, Barclays Capital, which made £3.4bn.

Barclays also said it lent £18bn to UK households and businesses over the six month period.

Barclays chief executive John Varley said of the profit – which was 44 per cent up on the same period last year: "Against the backdrop of of subdued economic and market activity and the sovereign debt storm of the second quarter, we have delivered good growth in income and profits.

"We recognise our wider social responsibility as an enabler of economic growth and prosperity, and our actions are - and will continue to be - informed by this duty."