Thursday, Aug 03, 2006

Big debt write offs for Barclays

BBC News: Big jump in bad debts at Barclays

Barclays has reported a 37% rise in half-yearly profits to 3.6bn but rising provisions for bad debts have knocked its credit card business. Profits at Barclaycard dropped 14% to 297m as overall charges relating to the writing-off of debts rose by 30%.

Posted by webmaster @ 03:18 PM (436 views)
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4 Comments

1. Sloth said...

Bad debt only has to rise slightly as a percentage of debts to wipe out profits...

Thursday, August 3, 2006 03:32PM Report Comment
 

2. Indiablue19 said...

Oh poor them. I'll sit down and cry. We just got a notice raising BarclayCard interest from 11% to 15.99% because they aren't permitted by the Banking Commission to charge just anything at all to those who pay bills late. Meanwhile, savings, and that's any amount of savings, best you can do is 4.03. Only making 37% profit boys? Gosh, the poor investors -- what a lousy ROI. No doubt who your priority is chums, and it's not your customers.

Thursday, August 3, 2006 04:00PM Report Comment
 

3. indiablue19 said...

Oh poor them. I'll sit down and cry. We just got a notice raising BarclayCard interest from 11% to 15.99% because they aren't permitted by the Banking Commission to charge just anything at all to those who pay bills late. Meanwhile, savings, and that's any amount of savings, best you can do is 4.03. Only making 37% profit boys? Gosh, the poor investors -- what a lousy ROI. No doubt who your priority is chums, and it's not your customers.

Thursday, August 3, 2006 04:01PM Report Comment
 

4. inbreda said...

Trouble is Indiablue that they're all the same. A cosy little cartel. So what can you do about it? Depressing I know, but it's like pointing out that Tony Blair is an evil little war mongering retard. Depressing, true, and nothing anyone can do about it.

Thursday, August 3, 2006 05:41PM Report Comment
 

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