Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Trump and Macron media moments

Read more

ENCORE!

Photographer Clare Strand explores the causes and consequences of communication breakdown

Read more

IN THE PRESS

Fashion and ethics: Five years after Bangladesh factory collapse, what's changed?

Read more

FOCUS

Israel’s migrant crisis: Clear government signals, but unclear decisions

Read more

PERSPECTIVE

Plastic waste: ‘We can only tackle the problem if we work together’

Read more

MEDIAWATCH

Louis XIV's message for the British royal baby

Read more

EYE ON AFRICA

Zimbabwean nurses call off strike and return to work

Read more

THE DEBATE

Macron meets Trump: A state visit with discord on the horizon?

Read more

BUSINESS DAILY

Macron hopes for breakthrough on trade tensions during US visit

Read more

Business

Barclays sees big rise in profits

Text by News Wires

Latest update : 2010-04-30

Barclays, Britain's second biggest bank, met expectations with a 1.8-billion-pound quarterly profit as it joined rivals in reaping the benefit of strong investment bank earnings and falling bad debts as economic growth returns.

AFP - British bank Barclays announced Friday that its net profit soared 29 percent in the first quarter of 2010, boosted by falling bad debts and signs of economic recovery.

Net earnings rose to 1.07 billion pounds (1.24 billion euros, 1.64 billion dollars) in the three months to March from 826 million pounds in the same period of 2009, Barclays said.

Pre-tax profit jumped 47 percent to 1.82 billion pounds, with revenues up four percent to 8.07 billion pounds.

Impairment charges and other credit provisions tumbled 35 percent to 1.51 billion pounds.

"I am pleased with the strong growth in profits which we have delivered this quarter," chief executive John Varley said.

"Diversification of our business and risk, and good underlying performance, have combined to produce this result," he said.

"The improvement that we have seen in impairment (levels) reflects the signs of economic recovery now evident in many of the markets in which we operate."

Date created : 2010-04-30

  • BANKING

    Barclays pre-tax profits jump 92% to 11.642 billion pounds

    Read more

COMMENT(S)