Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. All rights reserved. Q1 2020 Results. It also slashed €6.1bn from the value of its UK business as part of a €12.6bn impairment charge.

As one of our ‘Big Four’ retail banks, Barclays is heavily exposed to personal and corporate lending trends.

Barclays said its capital buffers – which ensure the bank can absorb major losses – were strong, but its chief executive, Jes Staley, struck a cautious tone. This pushed the bank to an €11bn loss in the second quarter – the first loss in its 163-year history. I remain very proud of the dedication and diligence of our 88k colleagues who have been working extremely hard to help our clients and customers through these tough times, playing our full part in the recovery efforts and delivering support at scale. Our ambition is to be a net zero bank by 2050. If you would like a copy of the data held on you, please email Northcote at events@northcote.co.uk and a copy of what is held will be provided to you by Northcote.

I would like to receive emails from you about product information and offers from The Fool and its business partners. Barclays has published its Q1 2020 Results Jes Staley, Group CEO said: “Barclays is committed to supporting its customers, clients and the UK economy through the crisis. The Financial Ombudsman Service and Financial Services Compensation Scheme may consider certain investment related claims.

Jes Staley, Group CEO said 'This has been a period focussed on supporting our customers, clients and the UK economy through the COVID-19 pandemic - providing the people and businesses that we serve with a bridge to recovery in every way we can. It is also three times the £480m charge it logged last year. All fields marked with an asterisk * are required.

Barclays : Half Year 2020 Results. In this capacity we are permitted to act as a credit-broker, not a lender, for consumer credit products. The Motley Fool UK has recommended Barclays. Resilient performance in Q120 reflecting the Group’s diversified business model . “Our hope is to be a firewall in the economy recovery and in dealing with the Covid-19 pandemic; it’s much different than what happened with the banks some 10 years ago,” he said. In our CIB, income increased 31% to £6.9bn driven by strong performance in our Markets business, particularly in FICC (up 83%) and Equities (up 26%), and an 8% increase in Banking fees income through continued momentum in both debt and equity capital markets. Earlier today, Barclays released its half-year report, which made for grim reading. Support for our communities and colleagues. Barclays’ pre-tax profits plunged by 75% in the second quarter of 2020 after the bank put aside another £1.6bn to cover bad debts in preparation for a wave of defaults caused by the coronavirus crisis. Distributed by Public, unedited and unaltered, on 29 July 2020 06:25:16 UTC. Barclays has so far extended 600,000 payment holidays to customers affected by the pandemic and provided £7.7bn worth of government-backed bounce back loans and a further £2.5bn in coronavirus business interruption loans.
Any performance statistics that do not adjust for exchange rate changes are likely to result in inaccurate real returns for sterling-based UK investors. Consumer business drivers. Despite the macroeconomic downturn caused by the COVID-19 pandemic, the Group’s position remains robust, reflecting our diversified business model” “Though we will remain well capitalised and ahead of our minimum requirements, we may experience stronger capital headwinds in the second half of the year,” he said. We have taken reasonable steps to ensure that any information provided is accurate at the time of publishing. Premier League scores, results and fixtures on BBC Sport, including live football scores, goals and goal scorers. Last modified on Thu 30 Jul 2020 10.53 BST. COVID-19 Lockdowns have caused unprecedented economic disruption met with bold policy actions. The hidden strength is Barclays’ balance sheet. Cliffdarcy has no position in any of the shares mentioned.
Should you require advice you should speak to a qualified financial adviser. Barclays H1 2020 Results.

Smarter, Happier, and Richer: read our Foolish guide to getting your finances in order. Analysts had been expecting profits of £491m, according to consensus estimates.

Credit impairment charges increased to £3.7bn in the first half due to the forecast impact of COVID-19.


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