Barclays expects bad loans and economic contraction ahead
As the pandemic roils markets, the British bank takes a £1.6bn charge for bad loans, bringing the total to £3.7bn so far for 2020
29 July 2020 - 18:32
London — Barclays has said it expects a prolonged stretch of economic contraction and bad loans, overshadowing the success of its traders in the coronavirus pandemic.
US and UK unemployment, a key variable for souring credit, “is now expected to be heightened for a prolonged period”, the London-based bank said on Wednesday as it reported second-quarter earnings...
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