Barclays 'months away' from completing overhaul as profits surge to £3.23bn

Barclays boss Jes Staley said the bank is "just months away" from completing an overhaul as he unveiled a surge in annual profits.

The lender said bottom-line group profits nearly trebled to £3.23 billion from £1.15 billion a year earlier, while it posted a 4% rise in underlying pre-tax profits to £6.4 billion 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."