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03/08/2009
Barclays Profits Nearly £3 Billion
A top bank has announced pre-tax profits for the first six months of 2009 of £2.98 billion.
The latest figures released by Barclays showed that profits at the investment bank Barclays Capital doubled, rising to £1,065 billion, from £524 million last year, although profits at the bank's UK retail arm had more than halved, falling 61% to £268 million, from £690 million last year.
The bank's High Street operations also recorded a 63% increase in bad debts, rising to £469 million in the first half of this year, compared to £288 million last year.
The figures showed that bad debt among the bank's mortgage customers amounted to £35 million, but the credit card debt was significantly higher, with the amount of credit card borrowing being written off rising by 92% to £915 million.
Barclays Chief Executive John Varley said that the bank's goal was "to deliver another year of solid profitability" and that today's figure's were "a good start to this".
(KMcA/BMcC)
The latest figures released by Barclays showed that profits at the investment bank Barclays Capital doubled, rising to £1,065 billion, from £524 million last year, although profits at the bank's UK retail arm had more than halved, falling 61% to £268 million, from £690 million last year.
The bank's High Street operations also recorded a 63% increase in bad debts, rising to £469 million in the first half of this year, compared to £288 million last year.
The figures showed that bad debt among the bank's mortgage customers amounted to £35 million, but the credit card debt was significantly higher, with the amount of credit card borrowing being written off rising by 92% to £915 million.
Barclays Chief Executive John Varley said that the bank's goal was "to deliver another year of solid profitability" and that today's figure's were "a good start to this".
(KMcA/BMcC)
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Barclays To Axe 10,000 UK Jobs
Barclays is to cut approximately 20,000 job cuts by 2016. The firm said it is part of a new strategy. The number of job' reductions is bigger than the 10 to 12,000 the bank announced earlier this year. Around 14,000 cuts will be made during 2014.
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