Barclays '09 Profit More Than Doubles

Updated from 2:33 a.m. EST

LONDON ( TheStreet) -- Barclays ( BCS), the U.K.'s third-largest bank, reported full-year earnings of 9.39 billion pounds ($14.76) billion, higher than year-earlier earnings of 4.38 billion pounds and above analysts' estimates.

Barclays said its fiscal-year Tier 1 capital ratio was 10% vs 5.6% a year earlier.

CEO John Varley and President Bob Diamond will forego 2009 bonuses, the bank said Tuesday.

Profit in 2009 included the sale of Barclays Global Investors for a gain of 6.33 billion pounds, Barclays said.

-- Reported by Joseph Woelfel in New York.

Follow TheStreet.com on Twitter and become a fan on Facebook.

More from Stocks

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Is Tesla's Stock Set to Nearly Double to $500?

Is Tesla's Stock Set to Nearly Double to $500?

Tesla's $78,000 Model 3 Is a Bargain. Here's Why

Tesla's $78,000 Model 3 Is a Bargain. Here's Why