Barclays increased its number of graduate hires by 40% last year, even as many of its rivals pulled back from entry-level recruitment amid a difficult period for deals.

The UK lender hired 1,177 graduates in 2023, according to its annual report, up from 841 a year earlier and 851 in 2022. Of the new hires, 36% were female — the same proportion as 2022, but down from 39% a year earlier.