09/02/2009
Barclays Retains Profitability Amid Downturn
Barclays Bank has reported a 14% fall in 2008 pre-tax profits, but still managed to push sales by more than £6bn past margins.
Today's news is seen as positive for the banking industry, after many other institutions made a loss for the year.
Despite "strong headwinds", Barclays Chairman Chairman Marcus Agius said the bank had been "solidly profitable".
Investors in the bank received an open letter last month forecasting profits of almost £5.5bn.
It is believed the letter was sent amid stock market fears.
In its latest report, Barclays said charges on bad debts - which include the US sub-prime mortgage market - had nearly doubled to £5.4bn.
The bank has also insisted top executives will not be receiving bonuses this year.
"For 2009 and beyond, we are reviewing our compensation policies and practices to ensure that they evolve appropriately," said Chief Executive John Varley.
Retail banking profits grew by 7%, from £1.28bn in 2007 to £1.37bn.
However, the bank's commercial business fell by 7%, from £1.36bn to £1.27bn.
(PR/JM)
Today's news is seen as positive for the banking industry, after many other institutions made a loss for the year.
Despite "strong headwinds", Barclays Chairman Chairman Marcus Agius said the bank had been "solidly profitable".
Investors in the bank received an open letter last month forecasting profits of almost £5.5bn.
It is believed the letter was sent amid stock market fears.
In its latest report, Barclays said charges on bad debts - which include the US sub-prime mortgage market - had nearly doubled to £5.4bn.
The bank has also insisted top executives will not be receiving bonuses this year.
"For 2009 and beyond, we are reviewing our compensation policies and practices to ensure that they evolve appropriately," said Chief Executive John Varley.
Retail banking profits grew by 7%, from £1.28bn in 2007 to £1.37bn.
However, the bank's commercial business fell by 7%, from £1.36bn to £1.27bn.
(PR/JM)
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Irish Economy Predicted To Grow 1%
A forecast from Central Bank has predicted that the Irish economy will grow at 1% this year. The State’s economic advisors have revised and increased their figures to levels first suggested at the start of the year following fears of double-dip recession earlier in the summer.
Irish Economy Predicted To Grow 1%
A forecast from Central Bank has predicted that the Irish economy will grow at 1% this year. The State’s economic advisors have revised and increased their figures to levels first suggested at the start of the year following fears of double-dip recession earlier in the summer.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
07 August 2002
Ulster Bank half-year profits show 11% rise
Half-year results posted by the Royal Bank of Scotland have revealed that its Ulster Bank subsidiary has seen a massive £25 million hike in pre-tax profits compared to the same period last year.
Ulster Bank half-year profits show 11% rise
Half-year results posted by the Royal Bank of Scotland have revealed that its Ulster Bank subsidiary has seen a massive £25 million hike in pre-tax profits compared to the same period last year.
07 August 2001
BASF issue another profits warning
Chemicals giant BASF have issued another profits warning as second quarter results revealed a drop in profits of euro 131 million, down around 15 per cent on the same period in 2000. The interim report noted that in 2001 BASF were expecting a decline in income from operations from ongoing business”.
BASF issue another profits warning
Chemicals giant BASF have issued another profits warning as second quarter results revealed a drop in profits of euro 131 million, down around 15 per cent on the same period in 2000. The interim report noted that in 2001 BASF were expecting a decline in income from operations from ongoing business”.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.