Motley Fool: Barclays Still Doing Well
November 28th, 2006
Barclays (LSE: BARC) gave further insight this morning into whether the bank can sustain its sector-beating share price performance with a third-quarter trading statement. As predicted, most areas of the bank contributed excellent performances, with the full year results expected to be “in line with current market consensus”, according to Chief Executive John Varley.
However, things don’t look so good at Barclaycard, the credit card division that accounts for around 10% of profits, and which earlier this year reported a fall in profit due to rising bad debt charges. The bank didn’t divulge numbers in today’s trading statement, but said that growth in income was “more than offset” by rising impairment charges for bad debts, implying that profits will have fallen again in this area….
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Categories: Aggregator, Banks, Credit, Credit Cards, Debt
