Barclays, like other banks, continues to replenish its emergency fund. The financial group expects that more loans will not be repaid as the economic impact of the corona crisis becomes increasingly visible.
Barclays set aside a total of £1.6 billion in the second quarter, where experts counted £1.4 billion. This brings the total amount that went into the emergency fund in the first six months of the year to 3.7 billion pounds. And the end doesn’t seem to be in sight, market leaders expect it will be worth nearly £6 billion by the end of the year.
In the first six months of the year, Barclays achieved a profit before tax of £ 1.3 billion. This positive result, which was clearly lower than a year earlier, was mainly due to a very strong period for the bank’s traders. The consumer branch of Barclays and also the business section experienced a difficult period due to the quarantine measures.