Barclays has posted a 10 per cent rise in annual pre-tax profits to £3.54bn, up from £3.23bn in 2016, but says there are still question marks over the future.

This result was despite earnings at its investment bank falling 22 per cent to £2.1bn, which the bank blamed on poor market conditions, as reported by Sky.

Barclays says it has made a good start to the current year, particularly in corporate investment banking. But there is still uncertainty over Brexit, which it expects to continue until the exact nature of future trading with the EU is clear.

Potential risks include increased likelihood of a recession, sparking lower growth, higher unemployment and falling house prices; changes to EU passporting rights; and more difficulty recruiting and retaining talented staff, the bank said.

Barclays also expects to take a £127m hit in its fourth quarter, largely related to the collapse of Carillion .

Punchline says: "Once more, the banks are making huge profits, while taking away our local branches. In the last year we've lost Barclays branches in Newent and Hucclecote."