Barclays profit soars 30% to 4.6 bn pounds in 2010

British banking group Barclays today reported a 30% jump in profit at 3.56 billion pounds in 2010, helped by lower impairment charges.

The entity had raked in a profit of 2.63 billion pounds in 2009.

Barclays said good 2010 profit primarily came on the back of lower impairment charges, which dropped 30% to 5.67 billion pounds as compared to the year-ago period.

In 2010, the company's staff costs rose 20% to 11.9 billion pounds, with performance-related incentives alone raking up 3.5 billion pounds.

During the same period, Barclays shelled out global tax to the tune of 6.1 billion. Out of the total amount, the entity paid tax worth 2.8 billion pounds to the UK government, including 1.3 billion pounds on behalf of staff.

In the wake of the financial meltdown, the British administration had moved to slap taxes on bonuses paid by banks to its employees, as part of efforts to check excessive risk taking activities.

Barclays CEO Bob Diamond said he was proud of the company's profit growth and enhanced capital and liquidity positions.

"We continue to believe that our integrated model provides superior benefits to our customers, clients and broader stakeholders because of its diversity by business, geography and funding source," Diamond noted.