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Impairments rise at Barclays and Lloyds

Barclays said first-quarter pre-tax profit rose 15% to £1.37bn, but both it and UK rival Lloyds said impairment charges were rising as British consumers and businesses struggled to maintain loan repayments

Source: ft.com

Comments

Simon James, Gore Browne Investment Management, 2009-05-07 14:33:26
The new capital raised to date has improved banks' capital ratios following the writing down of speculative assets on a thin capital base. The severity of the downturn will inevitably lead to historically high levels of loan write-offs and there remains a good probability that banks will seek further new capital as this process unfolds.


Note: The news article featured above is provided for information and general interest and is not an investment recommendation.

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