HIGH street banking group Barclays today posted profits of £7.08 billion last year, despite a £1.64 billion hit from the credit crunch.The profits were broadly flat on the previous year, down one per cent against the £7.
HIGH street banking group Barclays today posted profits of £7.08 billion last year, despite a £1.64 billion hit from the credit crunch.
The profits were broadly flat on the previous year, down one per cent against the £7.14 billion record haul seen in 2006 as Barclays was forced to make hefty write-downs amid the meltdown in America's sub-prime mortgage market and subsequent credit squeeze.
The group today warned of further challenges amid a slowing economy in the US and UK, but said its “resilient” performance last year gave it greater confidence to weather the storm.
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