Rise in Barclays' pre-tax profits

May 7 2009

Banking giant Barclays has posted a 15% rise in pre-tax profits but part-nationalised rival Lloyds Banking Group said it is still on course for losses this year.

Barclays posted a surplus of £1.37 billion in the first three months of 2009 - largely thanks to its Barclays Capital investment banking division - although bad debts jumped 79% to £2.3 billion.

HBOS owner Lloyds Banking Group said it had seen a "significant" rise in impairments due to the impact of recession on its loan book.

Corporate bad debts are expected to be 50% higher than last year.

Keep up to date with the news. Sign up for News Alerts

Have your say on the latest news and sport in our Forums

Site Tools