Breaking news, Barclays bank almost double profits

[melthebell 864]

yup

in a year................during a year thats been in recession, Barclays have apparently upped their profits by 47%

 

sounds dodgy to me

[taxman 12]

Excellent. They can afford to pay their top bosses a decent bonus for a change.

[LibertyBell 10]

yup

in a year................during a year thats been in recession, Barclays have apparently upped their profits by 47%

 

sounds dodgy to me

 

However they were one of the few banks who didn't sponge off the tax payer.

[Tony 10]

They went and got themselves a private bailout (despite Gordon Brown actually threatening them for not getting UK Government cash) and now they are repaying their business partners with profits made as a result.

 

Sounds anything but dodgy. It sounds like damned good business to me.

[rubydazzler 11]

Just beware of their so-called "Personal Reserve" and don't let them inflict it on you. I suspect that's where a large part of their profit is coming from, the unwary current account holder.

 

As always, 'from those who have not, shall be taken what little they have' to paraphrase the Bible.

Edited April 30, 2010 by rubydazzler

[tonkatoy 10]

Just beware of their so-called "Personal Reserve" and don't let them inflict it on you. I suspect that's where a large part of their profit is coming from, the unwary current account holder.

 

As always, 'from those who have not, shall be taken what little they have' to paraphrase the Bible.

 

It is the same in all UK banks at the moment. The ones part owned by the tax payer are under pressure to increase profits and drive up the share price so the stake can be sold off. To do this they are offering minimum return on savings whilst charging high rates to borrowers. The non state run banks are having a field day because there is no competition.

 

Cashing in at the expense of customers springs to mind.

[Stan Tamudo 10]

It just goes to show that nothing changes, all the main parties are talking about savage cuts in public spending at a time when the rich are relining their pockets. I was looking at the Sunday Times Rich List this morning and it shows that the richest 1000 people in this country have a combined wealth of £333.5bn, this is an increase of 29.9% on last year.

We need to get these greedy people to cough up.

http://business.timesonline.co.uk/tol/business/specials/rich_list/article7107182.ece

[SimpyTimpy 10]

As far as I know, they weren't bailed out by the tax payer, their pre-recession prudance has allowed them to prosper from other banks failings and they've repositioned themselves to get the most out of the current climate.

 

Exactly as HSBC have done.

 

From my perspective, fair play to them and they can pay their staff all the money they want.

 

It's also worth remembering that these profits will also have taken into account all the capital restructuring they were forced to do by changes to banking regulation - including increasing their Tier 1 Capital Ratio.

[epiphany 10]

Barclays are an awful bank. They have an appauling track record, involved in several conflicts of interest.

 

They have a nice friendly highstreet face of course, so most of their customers won't know what kind of operations they are helping to capitalise.

[Unregistered 10]

yup

in a year................during a year thats been in recession,

Barclays have apparently upped their profits by 47%

 

sounds dodgy to me

 

Vinny Cable is going to sort 'em out.

 

In the meantime, Halifax have just reduced rates for their savers.

.

.

.

[Treatment 10]

This is a good illustration as to what hard work, diligence and ripping off customers can achieve - well done !

[tonkatoy 10]

As far as I know, they weren't bailed out by the tax payer, their pre-recession prudance has allowed them to prosper from other banks failings and they've repositioned themselves to get the most out of the current climate.

 

Exactly as HSBC have done.

 

From my perspective, fair play to them and they can pay their staff all the money they want.

 

It's also worth remembering that these profits will also have taken into account all the capital restructuring they were forced to do by changes to banking regulation - including increasing their Tier 1 Capital Ratio.

 

The banks pay tax on their profits and the employees pay tax on their bonuses. That is probably good news for the Exchequer at the moment when many are just taking it out.