Some of Britain's biggest banks are expected to announce big profits this week less than a year after the banking crisis brought the country's economy to the brink of collapse.
Barclays has announced a £1.9bn (€2.2bn) net profit in the first half of this year (£2.98bn pre-tax profit).
The strong performance was driven by Barclays Capital - the firm's investment banking division - which posted a 100% increase in profits.
Banking giant HSBC said today that profits had fallen by more than half during the first six months of the year.
The 51% drop in pre-tax profits to £2.98bn sterling came after its bad debt charges soared 39% to £8.3bn.
Despite the fall in profits, HSBC said results were better than it expected at the start of the year in an 'unprecedented' economic climate.
All the major banks are expected to reveal large and growing potential losses from loans to businesses and households but substantial profits from investment and trading activities are expected to improve balance sheets.
It has been reported that investment bankers at Barclays can be paid an average of £250,000 (€300,000) for six months' work. Commentators also predict big bonus payments.
Later in the week the Royal Bank of Scotland is expected to post profits of over £1bn.
However Lloyds, which reports later in the week, is expected to show it is still struggling with an anticipated loss of £5bn.
