Profits surge at Barclays

The ​bank said bottom-line group profits nearly trebled to £3.23​bn from £1.15​bn a year earlier, while it posted a 4​ per cent​ rise in underlying pre-tax profits to £6.4​bn for its core business - Barclays UK and Barclays International.

Mr Staley, who has been selling down and offloading unwanted businesses to focus on US and UK operations, said the group had "accomplished a lot in a year".

He added: "We are now just months away from completing the restructuring of Barclays, and I am more optimistic than ever for our prospects in 2017, and beyond."

Profits for the year were helped by a revenue boost from its investment banking operations, which saw income lift 6​ per cent​ to £10.5​bn thanks to buoyant bond trading and foreign exchange rates.

It also saw lower costs for payment protection insurance (PPI) compensation, at £1​bn in 2016 against £2.8​bn the previous year.

The group said it planned to close its so-called non-core bank on June 30, six months earlier than expected.

Mr Staley has been leading a widespread restructuring for the past year, offloading businesses from France to Egypt and moving to sell off its 62​ per cent​ stake in Barclays Africa.

Chairman John McFarlane said it was a "pivotal year" for the bank.

In its annual report published alongside the results, the bank revealed Mr Staley was awarded a £4.23​bn pay package for 2016.

The bank's total bonus pool edged down to £1.53​bn from £1.54​bn in 2015.