The increase was driven by deposit growth, though this was partially offset by reduced transactional appetite from investors and a fall in assets under management in the wealth business.

For the nine months ended 30 September, WEBB income was up three per cent from a year earlier.

The bank’s pre-tax profits for the third quarter rose 35 per cent year-on-year to £837 million as trading income in its investment bank jumped 40 per cent to £947 million, most of which was earnt in the US where the dollar strengthened against the British pound. Excluding one-time items, profit was £1.7 billion.

Barclays' common equity tier one ratio, a measure of its financial strength, was unchanged at 11.6 per cent as at the end of September. It said it was on track to complete its non-core rundown in 2017. The restructure has included recent sales of Barclays Wealth Americas and the bank’s stake in Barclays Africa.

“Our Core businesses are performing well, Non-Core rundown is approaching the final lap toward closure, we are on top of costs, and our capital position is resilient with strong reasons for confidence in meeting our end state target,” said James Staley, group chief executive at Barclays.

“The growing momentum in attaining our strategic goals means we can feel optimistic of our prospects of completing the restructuring of Barclays - a restructuring to a simplified transatlantic, consumer, corporate and investment bank with the capacity to deliver sustainable high quality returns for shareholders. This quarter has seen us take another important stride toward that state.”

Barclays also revealed it has set aside £600 million to meet claims for mis-selling of payment protection insurance (PPI), bringing its total PPI provision to £8.4 billion.

The bank as a whole no longer gives specific financial results for its wealth and investment management segment, following the restructure of its divisions, which started over a year ago.