26 May 2005
Barclays, the UK's biggest credit card lender, has reported static income growth and an increase in bad debt provisions, a further indicator of a UK consumer slowdown and spending on credit cards.
Chief executive John Varley said: "Barclays has delivered good profit growth in the first quarter of 2005. We have accelerated the implementation of our strategic agenda by organic investment and acquisition."
Barclays pre-tax profit for 2004 was up by 20 per cent to £4.6 billion, but the figures were eased by a lower than expected bad debt provision.
Barclays shares fell by over three per cent in morning trading on Thursday, and have underachieved in the UK banking sector by three per cent this year.
Use uSwitch's impartial credit card calculator to compare all credit cards and find the card to suit your needs.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.