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.