Barclays said its pre-tax profits totalled £7bn in 2022, down from £8bn in 2021
New mortgage lending reduced 11 per cent last year. It said the fall was due to the mortgage market turmoil that followed the “mini-Budget” last autumn.
Barclays revealed it has set aside £1.2bn to cover potential mortgage defaults and loan losses as pressure mounts on households and businesses already under strain from the cost of living crisis. Ms Cross said: “There is no doubt this is a significantly difficult environment for some customers in terms of inflation. But that’s not translating through to adverse credit behaviour. We are not seeing increases in arrears.”
Barclays said it is tightening lending for coal power and would stop financing oil sands exploration and production, but did not announce new restrictions on oil and gas lending as rivals have in the face of mountingCampaign groups expressed disappointment at Barclays move. “By continuing on this path, Barclays is ignoring the science and disregarding its customers,” Tony Burdon, at Make My Money Matter, said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British Gas owner Centrica reveals profits of £2.8bn in 2022, up from £392mBritish Gas owner Centrica has reported huge profits for 2022, soaring to £2.8 billion from £392 million in 2021 🔴 Energy firms have seen record profits since oil and gas prices soared after Russia’s invasion of Ukraine
Read more »
EU set to investigate Amazon’s $1.7bn purchase of Roomba-maker\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
Read more »
Barclays’ profits hit by fall in investment banking fees\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Barclays Vows To Stop Financing Oil Sands Projects | OilPrice.comBarclays said it would no longer provide financing to oil sands companies or oil sands projects & tightened conditions for thermal coal lending in an updated policy, which fell short of announcing overall pledges or targets in funding oil & gas
Read more »
Barclays lend less to mortgage seekers after Truss mini-budgetHigher interest rates, raised in an effort to bring inflation down, have meant greater loan margins for Barclays.
Read more »
Bagnaia: 2023 Ducati handling “nervous” and “more aggressive” than 2022 MotoGP bikeThe handling of the 2023 Ducati MotoGP bike is 'nervous' and 'more aggressive' than its predecessor, according to reigning champion Francesco Bagnaia.
Read more »