Barclays PLC said Monday it expects pre-tax profits of over 5.3 billion pounds ($7.3 billion) for the full year 2008 despite writing down 8 billion pounds on bad assets.
It also said it will not need any more capital injections but would accept government guarantees against losses on weak assets.
The bank, whose shares fell sharply last week, said it would report full-year results on February 9, earlier than planned, in an effort to allay market concerns.
"These figures demonstrate that, although we have been heavily impacted by the credit crunch, our income generation was at a record level in 2008 and has enabled us to withstand this impact and still produce strong profits," Barclays Chairman Marcus Agius and Group Chief Executive John Varley said in a statement to the London Stock Exchange.
They confirmed the company did not need more funding from investors or a government bailout.
The bank said customer and client activity levels have been high so far in January.
"As a result, we have had a good start to 2009. In particular, the operating performance of Barclays Capital, benefiting as it is from the now completed integration of the Lehman business, has been extremely strong," Varley and Agius said.
The company's shares jumped 28 per cent at 65 pence (90 US cents) on the London Stock Exchange Monday morning.
Barclays shares took a beating last week, falling from 142.1 pence on January 16 to 51.2 pence on Friday, although the company previously had forecast full-year profits to be in line with Monday's statement and consistently had said it did not need government help.
