Uk Bad Credit Second Mortgage
Barclays sets aside £1.05bn to cover its UK bad debtors
BARCLAYS today put an intensifying spotlight on the country's growing personal debt culture when it revealed it had set aside £1.05 billion over the first-half of 2006 to cover bad debt - a rise of 50 per cent on the previous year.
Much of the increase in so-called "impairment" charges was down to the bank's Barclaycard credit card division, where it saw impairment grow by 37 per cent to £696 million.
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Lloyds TSB profits up 8
Britain's fifth biggest bank, Lloyds TSB, today posted half-year pre-tax profits of £1.75bn, up 8%, despite a surge in bad loans.
As with other banks reporting this week, Lloyds TSB saw a sharp rise in provisions to cover bad debts, reflecting changes to personal bankruptcy laws.
For the six months to 30 June, the owner of Cheltenham & Gloucester and Scottish Widows said impairment losses on loans and advances increased by a fifth to £800m. In the UK, bad debt provisions was up by £86m, or 16%, to £632m.
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