Barclays: Banking giant reveals half-year profits jumped by more than a fifth

Banking giant Barclays has revealed half-year profits jumped by more than a fifth despite setting aside over £1 billion for bad debts.

Transcript

00:00Hello, I'm Greg Wright of the Yorkshire Post.

00:04The banking giant Barclays has revealed that half-year profits jumped by more than a fifth,

00:09despite setting aside more than £1 billion for bad debts.

00:14Barclays reported a 23% rise in pre-tax profits to £5.2 billion for six months to June 30th.

00:22It booked credit impairment charges of £1.1 billion, up from £8.97 million a year earlier,

00:29which he says was largely due to its takeover of Tesco Bank and a more uncertain economic outlook, especially in the US.