The UK based banking giant Barclays has reported a 92% increase in its yearly profit for 2009. The sale of its BGI fund management arm to BlackRock, a US firm, in 2009, has boosted the profits.

The total profit came out to be £11.642 billion and the bonus payouts rose to £2.7bn, during the year.

Although the impairment charges for the year jumped to 49 %, the figure was below the bank's own estimate of nine billion pounds.

Despite the hike in debts written-off, Barclays has successfully avoided the control of the state, unlike the rival British banks that sought the bailout from the taxpayer after being hit by the global financial crisis.

In 2008, Barclays had won a seven-billion-pound capital injection, which was largely backed by Abu Dhabi and Qatar.

Since then, Abu Dhabi has sold most of its holding and Qatar's sovereign wealth fund, the Qatar Investment Authority, has trimmed its stake in Barclay.