UK banks Barclays and HSBC have both reported continuing profits, and indicated that the worst of their bad debts may be coming to an end.Barclays made a pre-tax profit of £1.56bn in the three months to 30 September, down 45% from a year ago. While HSBC did not give any figures, it said profits for the same period were "significantly ahead" of last year. HSBC said its bad debts had now fallen to their lowest level since the the second quarter of 2008.
UK banks Barclays and HSBC have both reported continuing profits, and indicated that the worst of their bad debts may be coming to an end.
Barclays made a pre-tax profit of £1.56bn in the three months to 30 September, down 45% from a year ago.
While HSBC did not give any figures, it said profits for the same period were "significantly ahead" of last year.
HSBC said its bad debts had now fallen to their lowest level since the the second quarter of 2008.
They moved their main office back to Hong Kong recently after 15 years in London. A sign of the times...
How do you interpret this "sign"? In the end, might makes right. Nothing has changed since the caveman.
