Barclays Bank reports £3.95 billion profits
Barclays Bank, the UK banking giant, has today reported a profit of £3.95 billion for the first six months of 2010. While the vast majority of the profit, £3.4 billion, came from the company's Barclays Capital investment arm there has been a general improvement in trading within the UK banking sector. So can we now expect liquidity to improve?
In-line with the earlier reporting of profitability from the likes of HSBC and Royal Bank of Scotland, Barclays Bank has also focused upon lending in the UK and confirmed that £18 billion was put aside for households and businesses over the last six month period. This is a direct response to the UK government's criticism of the UK banking arena and the fact that there would appear to be a "liquidity crisis".
Barclays Bank chief executive John Varley believes that the company has performed well in difficult market conditions and fulfilled all of its social banking requirements. Banks in the UK are now acutely aware that in many ways they hold the key to the economic prosperity of the country in the future and appear to be going to great lengths to justify their current activity and their current positions.
Share this..
Related stories
Has Barclays Bank Hit Rock Bottom?
After many days of speculation it has been announced that the £4.5 billion Barclays Bank fund raising is going ahead with the Qatar Investment Authority (QIA) leading the way with a £1.7 billion investment in exchange for a 7.7% stake in the business. It has also been declared that a new investment vehicle set-up by the Prime Minister of Qatar will invest a further £533 million for an addition...
Read MoreTrading software should help insider dealing investigations
There has been growing demand for trading software within the financial industry for some time with fears that many innocent parties have become involved in insider dealing investigations of which they have no knowledge and no involvement. Some of the latest trading software can literally track a bargain from the advisor in question all of the way through to the dealer. Insider trading is becom...
Read MoreHSBC chief set to move into politics
Stephen Green, the chairman of HSBC, will step down from his post with the banking giant later this year and take up the role of Trade Minister with the UK government. This will bring to a close a 28 year career in the financial industry and allow the UK government to bring on board one of the best respected names in the UK financial arena. It is believed that a number of other candidates may w...
Read MoreGoldman Sachs faces £20 million fine
Goldman Sachs, the US financial giant, is on the verge of being handed a £20 million by the Financial Services Authority (FSA). It is believed that the FSA began an investigation into Goldman Sachs mortgage backed security operation in light of fraud charges which were launched in the US by the Securities and Exchange Commission. The company was fined a record $550 million by the SEC with the com...
Read MoreWarren Buffett slates Cadbury takeover
Warren Buffett, the well-known investment guru, has today criticised Kraft Foods over the price it was forced to pay for UK outfit Cadbury. The company yesterday agreed an improved £11.9 billion offer with Cadbury although while Buffett believes it is a "bad deal" he has been particularly critical of the increase in the cash element which will result in higher debts for Kraft Foods. Buffett's...
Read More