CAMPAIGNERS slammed Barclays for cashing in on Israel’s genocide in Gaza today after the bank announced its profits had jumped by a quarter.

The bank reported pre-tax profits of £8.1 billion last year, up by 24 per cent from £6.6bn in 2023, after a rebound in global investment and deal-making.

The boost saw the pay of CEO CS Venkatakrishnan more than double to £10.5 million, with his payout growing from long-term bonuses which were boosted by Barclays’ share price rise.

The bank’s annual report revealed that its bonus pool had increased to £1.9bn, up from £1.75bn the year before, which it said reflected “performance across the group, enabling us to reward colleagues for the performance delivered.”

The firm’s top earner recieved £15m – one of 760 staff who earned more than £830,000. 

Shareholders will vote this year on a new policy to cut executive directors’ salaries by half – although this comes after the bank removed its cap on bosses’ bonuses in 2024.

While raking in obscene profits, the bank has faced mass protests and has been accused of complicity in the killing of Palestinians by pouring billions into firms supplying weapons to Israel.

Anti-poverty charity War on Want’s Liz McKean said: “Barclays invests billions in shares and loans to nine arms companies supplying weapons to Israel, raking in billions in profits, and paying its CEO a multi-million pound bumper pay packet.

“Barclays is gravely complicit in Israel’s war crimes against Palestinians, and must stop bankrolling Israel’s apartheid regime.”

A Palestine Solidarity Campaign (PSC) spokesperson said: “Just as Barclays’ financial support for South African apartheid made it a boycotted bank in the 1980s, now its substantial financial ties to arms companies supplying Israel with weapons and military technology to commit genocide have made it a toxic brand again. 

“Barclays also has an agreement with Israel to act as a ‘primary dealer’ for its government bonds, meaning it helps Israel to raise money to fund its genocide and apartheid against Palestinians.” 

Five thousand Barclays customers closed their accounts last year in response a boycott campaign launched by PSC.

The Great Escape festival also dropped the bank as a sponsor after hundreds of artists pledged to boycott their events.

The PSC spokesperson added: “The message to Barclays is clear – there will be no business as usual for companies complicit in genocide.”