Net operating income was GBP5.26bn for the fourth quarter of 2011, compared to GBP6.70bn for the same period a year ago.

UK retail and business banking posted a profit before tax of GBP222m, compared to GBP255m for the same period in the previous year.

Europe retail and business banking reported a loss before tax of GBP552m, compared to GBP105m for the same period in the previous year.

The company has reported a profit before tax of GBP5.87bn for the full year of 2011, down 3%, compared to GBP6.06bnbn for the same period in 2010.

Barclays CEO Bob Diamond said that against the backdrop of challenging economic and market conditions, they maintained their focus on clients and customers while supporting the real economy, as well as the needs of their shareholders, colleagues and the communities in which they operate.

"Barclays universal banking model continues to be a competitive strength. Revenues remained resilient overall, reflecting the strength of our customer franchise and the balanced mix of our business," added Diamond.