Profits at Barclays Wealth rise as group's fall - Spear's Magazine

Profits at Barclays Wealth rise as group’s fall

Barclays Wealth announced an impressive 119 percent increase in divisional profits for 2008, as its parent booked a 14 percent fall in profit before tax.

Barclays Wealth announced an impressive 119 percent increase in divisional profits for 2008, as its parent booked a 14 percent fall in profit before tax.

The Barclays Wealth business, the dominant force in the UK wealth management market according to proprietary PAM data, saw profit before tax rise 119 percent, from £307 million to £671 million.

The headline figure, the best divisional performance within the bank, includes £326 million in profit from the sale of the closed life business, without which the rise in profits is closer to 12 percent.

For further details, visit thewealthnet



 

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