Barclays, the UK bank, secured a capital injection worth £7.3 billion ($11.8 billion) from Middle Eastern governments, including Qatar and Abu Dhabi, in a move that will allow the bank to boost its balance sheet without turning to the UK state for cash.

The UK bank made the announcement following press reports that a deal was imminent.

"As a result of the Capital Raising, Barclays expects to fully satisfy its commitment, as announced to the market on 13th October 2008, to raise new external capital as part of its overall plan to achieve the new higher capital targets set by the UK Financial Services Authority for all UK banks," the statement said.

Meanwhile, Barclays said in an interim statement that profits in global retail and commercial banking was "ahead of 2007" and that its Barclays Wealth business made profits that were "in line with the prior year". The statement gave no figures.

The cash injection will largely fulfil Barclays’ pledge to raise fresh capital as part of the state-sponsored recapitalisation of the UK's largest banks.

It will also surprise rival bankers and government officials who have been deeply sceptical about Barclays’ ability to raise so much capital without government support.

Barclays surprised rivals and regulators this month when it chose not to participate in the recapitalisation that saw the government inject up to £37 billion into Royal Bank of Scotland, HBOS and Lloyds TSB. Although regulators forced Barclays to boost its capital reserves by more than £10 billion by issuing equity, selling assets and slashing its final dividend for 2008, the bank insisted it would raise the money privately.

Barclays is expected to issue a range of complex capital instruments to its new investors. It is also expected to give existing shareholders the opportunity to participate in the fundraising.