Thursday, August 3, 2006

Big debt write offs for Barclays

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 (479 views)
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4 thoughts on “Big debt write offs for Barclays

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

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  • Indiablue19 says:

    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.

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  • indiablue19 says:

    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.

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  • 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.

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