Barclays Plc boosted its profit following the acquisition of Lehman’s U.S. assets and earning from the sale of a life insurance unit.

The bank also announced it would not need additional capital increases as revenue grows as ING Groep NV axed jobs, replaced its chief executive officer and got a mortgage guarantee in an effort to survive the economic downturn.

Reports show that Barclays was up by 76 percent in London trading, ING advanced 24 percent in Amsterdam. Bank statements suggest that investors’ confidence receive a major boost following a rise in financial shares across Europe.

Barclays Chairman Marcus Agius and CEO John Varley declared in an open letter that the North American units acquired from Lehman Brothers Holdings Inc. are generating “record” revenue.

Recent statistics suggest that Lehman’s Sept. 15 bankruptcy forced the decline of European financial shares by 60 percent, while banks worldwide have cancelled a total of $1.05 trillion since the credit crunch began in 2007.

The open letter further reveals that Barclays has 36 billion pounds of equity capital and reserves. It has also created “strong” income from the Barclays Capital investment bank, retail and commercial banking, fund management and private banking.