Barclays’s full-year net income up 33%

Barclays’s full-year net income up 33%
# 20 February 2007 12:30 (UTC +04:00)
Barclays PLC posted a net profit rise of 33% in 2006, APA reports.
The company, Britain’s third-largest banking group by market capitalization, earned €6.78bln, profit before tax and exceptional items rose 35 percent to €10.6bl and full year revenues climbed 25% to €32.07bln.
Analysts had feared Barclays may not be on top of bad debts on unsecured lending, but the bank on Tuesday sought to allay market fears, saying the consumer credit performance for Barclaycard was beginning to improve.
The group’s UK retail banking arm saw pre-tax profits rise 17% last year.
The credit card unit saw profit fall 40% but the bank said it felt Barclaycard had now passed the worst. /APA/

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