Qualified advisers answering your
Financial Questions
call 0800 092 1245

Barclays Bank results beat expectations

In a startling turnaround the half-year results from Barclays bank were actually ahead of analyst expectations and the company appears to have started 2009 "extremely strong". This is the same bank which only weeks ago was under severe pressure with rumours abound in the market that the company would have to tap shareholders for extra funding. The £2.66 billion profit for the six months ended 31 December 2008 would suggest a bank which is very strong and well positioned for the future.

More importantly, the statement accompanying the results also confirmed that the bank has "nothing to hide" in response to market rumours that the group was hiding significant losses on commercial property and commercial loans. The shares have bounced from around the 30p level to in excess of one pound in just a couple of weeks and the worst would appear to be over. It was interesting to see the reaction of investors in the market where relief has overtaken panic and positive comment has overtaken rumour.

Slowly but surely we are starting to see signs that the UK banking sector is back on its feet and alive and kicking again. However, the ongoing UK recession is still a significant problem for the sector and caution is probably the watchword for the next six months or so.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details