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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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35 arrested in £20 million pound cheque fraud
Police have arrested 35 people across the UK in connection with a major investigation into multi-million pound cheque fraud. The arrests were made following a series of dawn raids, involving around 400 police officers, at 36 addresses across London, Surrey, Kent, Cambridgeshire, West Midlands, West Yorkshire and Manchester.
35 arrested in £20 million pound cheque fraud
Police have arrested 35 people across the UK in connection with a major investigation into multi-million pound cheque fraud. The arrests were made following a series of dawn raids, involving around 400 police officers, at 36 addresses across London, Surrey, Kent, Cambridgeshire, West Midlands, West Yorkshire and Manchester.
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