Barclays sees profits fall

Barclays has revealed pre tax profits of £4,542 million for the first nine months of the year, almost a fifth down on the figure it reported in 2008. A 65% rise in impairment charges to £6,214 million was blamed on foreign exchange movements, economic deterioration and portfolio maturation. However, before the deduction of exceptional items, profits before tax amounted to £4,413 million, more than double that seen a year earlier. "This performance shows the resilience and diversification of our portfolio of businesses," said John Varley, Barclays' chief executive. Meanwhile, despite not revealing an actual figure, HSBC said its profits for the same period were ahead of a year ago. Profits for the third quarter itself were said to be significantly ahead of those posted in Q3 2008.
 
 
©2007-2012 BWG Commercial Finance Specialists | Terms and Conditions | Terms of Engagement | Web Design by Source