Barclays 2005 Profit Up But Bad Debts Weigh Heavy

Published on:
12 September 2006 at 10:20 a.m. ET

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http://www.insidearm.com/news/00020674-barclays-2005-profit-up-but-bad-debts-wei/

By Steve Slater, Reuters

Barclays Plc, Britain’s third-biggest bank, said on Tuesday profits jumped 15 percent to a record last year, just beating analysts’ forecasts as higher investment banking income offset a big rise in bad debts.

Expansion in the bank’s international business easily outpaced domestic growth, where it is struggling to turn around the Woolwich mortgage business and lost further market share.

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