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Barclays bank set to post profits of £6 billion

The recent collapse in the Barclays bank share price has prompted the company to come out with a trading statement and suggestion that they will post profits of £6 billion for the current year. However, such has been the collapse in the share price that the company is capitalised just above £6 billion and under serious pressure from investors. So what exactly is going on?

The fall in the Barclays share price over the last week, a fall of over 50%, was prompted by fears of further write-downs and investment losses for the UK-based operation. The share price has now fallen to a 17 year low and despite assurances from the directors of Barclays bank investor confidence seems to be seeping away.

There are real concerns in the marketplace that the company will need further assistance or risk nationalisation along with the likes of Northern Rock. This is yet another severe blow to the UK banking system only weeks after Barclays bank had agreed a multibillion pound injection of capital from Middle East investors. Many were encouraged by the company's strength in turning away a taxpayer led bailout but this upbeat reading of the situation would appear to have been very wide of the mark.

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