It appears that Barclays Bank, which is one of the largest banks in the UK, appears to be weathering the financial storm that many banks are currently facing.
Barclays has just published updated accounts which claim to have increased the bank’s interim pre-tax profits by circa 8% to almost £3 billion. This still did however fall short of many analysts expectations, despite a massive increase in the results of the investment banking arm.
Barclays Bank has been quick to tell the market that it did not need to go begging to the UK government for cash hand-outs, but it must not be forgotten that the bank has undoubtedly benefitted hugely from the increased liquidity in the market from the cash injections the UK government (as well as those of other governments such as the US) put into the global capital markets.
In summary though Barclays Bank certainly does appear to be performing well and able to continue to extend credit (such as Barclays personal loans) to the many millions of global Barclays Bank customers across the planet.
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It is really amazing how they have managed to weather this storm, when Northern Rock are today publishing further losses