This figure is up by 19 per cent from last year when pre-tax profit was £4.3bn. The profits were equally split between the firm’s retail and investment banking divisions.

These figures will be positive for the firm after profits fell 33 per cent in the first half of the year due to payouts for PPI compensation.

Barclays Wealth, an IFP sponsor, saw a rise in profits to £153m, up from £122m in the previous quarter.

Investment bank division Barclays Capital was the only sector to perform worse than in the previous period. Income at the sector fell to £2.7bn, down 22 per cent from the previous quarter and profits fell to £338m.

This was mainly due to a 20 per cent drop in revenue in the fixed income, currencies and commodities business.

Bob Diamond, chief executive of Barclays, said: “I am pleased with the performance we have delivered for the first nine months of the year, with profit before tax exceeding £5bn,despite significant economic and market headwinds.

“These results demonstrate the continued progress towards our 2013 goals through building momentum across retail and corporate banking business and strong relative performance by Barclays Capital in difficult market conditions.”

He also said the firm was generating sufficient capital for its business needs and would not need to raise any new equity capital.