Barclays 6.1 Billion profit

entwisi · 09-02-2009, 12:53

So, most know I work for them,
I'm quite proud that despite the worst trading period in recent history and whilst other Banks have gone cap in hand to goverment through hard work and focus on the basics of good service and sensible policies the company has made a decent(if reduced) profit.

So are you happy that it shows Barclays won't be owing to UK Taxpayer or suitably insulted that a British based and originated company is still successful enough to make what you no doubt see as an obscene profit?

Margaret Pilkington · 09-02-2009, 13:30

Personally, I am pleased that they didn't go cap in hand for a lifeline.
I wish all the other banks had been left to sort out their mess themselves.
Barclays obviously have sounder financial skills than some of the other banks and I suppose that is why they are making a profit.

It does grieve me that over the recent months, due to cuts in interest rates, savers(who outnumber those who have mortgages and loans with banks by something like 7 to 1) have been penalised. I have some money saved and I am getting very little interest.
I might as well have it in a hole in the ground for what it is making.

Where do banks get money to lend to the folk who want to buy houses?
Why, from savers of course.......what induces savers to save....good rates of interest.

Alistair Darlings strategies have so far failed to produce any real movement of money.....and have reduced the savers ability to get a fair deal.

cashman · 09-02-2009, 14:48

its summat to be pleased about in my book, also the fact they aint paying bonuses is brownie points, though doubt if you view it like that ian.

Margaret Pilkington · 09-02-2009, 15:23

Yes, that is another thing that irritates the bejasus out of me...bonuses for failing banks.....that cannot be right. For goodness sake these folks are only in jobs because the government bailed them out with our money.
And before anyone tells me that these bonuses are written into the job contract.....I know that, but they shouldn't be.
There should be some kind of framework that nullifies bonuses when banks perform so badly.

jaysay · 09-02-2009, 16:03

Quote:

Originally Posted by cashman

its summat to be pleased about in my book, also the fact they aint paying bonuses is brownie points, though doubt if you view it like that ian.

I have to say those were my thoughts too cashy, shows the others up for what they are

yerself · 09-02-2009, 16:41

Have a read of this: BBC NEWS | The Reporters | Robert Peston

Barclays existing shareholders are not universally overjoyed at the deal it has struck with the Abu Dhabi and Qatar.

Taggy · 09-02-2009, 16:50

Well, thats Robert Peston for you, always looks on the bright side of life...Da Da...Da Da Da Da Da Da!

Best Regards - Taggy

Nickelson · 09-02-2009, 16:55

They posted profits 15% down on the previous year. Also this is for 2008, so i would be expecting a greater loss of profits for this year.

The Lehmans Brothers acquisition left them with +2.2billion.

Margaret Pilkington · 09-02-2009, 17:04

Nickelson, of course you are right, but they still made a profit....and didn't go with the begging bowl like some of the other banks.

Less · 09-02-2009, 17:04

Quote:

Originally Posted by Nickelson

They posted profits 15% down on the previous year. Also this is for 2008, so i would be expecting a greater loss of profits for this year.

The Lehmans Brothers acquisition left them with +2.2billion.

Miserable sod, one bank that didn't need help!

Maybe the rest need to know how they did it? Then follow their example, instead of being bailed out and giving the money to those that wasted it!

Morecambe Ex Pat · 09-02-2009, 17:23

re bonuses.
I must live in another world.
Bonuses are paid to people to reflect good work done within a given period. If a bonus is written into a contract and they get paid a bonus whatever happens, that isn't a bonus, it is part of their salary.
This whole mess was created by the very people being paid these bonuses who were gambling with money they didn't have and they are still being rewarded for their incompetence.

cashman · 09-02-2009, 17:34

Quote:

Originally Posted by yerself

Have a read of this: BBC NEWS | The Reporters | Robert Peston

are ya quite proud of this report ian?

Taggy · 09-02-2009, 17:44

....and if it all gets a bit too much for the Bankers WAGs out there, heres the website for you!!

Dating A Banker Anonymous

Best Regards - Taggy

Nickelson · 09-02-2009, 18:39

Quote:

Originally Posted by Less

Miserable sod, one bank that didn't need help!

Maybe the rest need to know how they did it? Then follow their example, instead of being bailed out and giving the money to those that wasted it!

They basically did, however they opted for forgein investment rather than government bail outs in order to settle the balance sheet.

Also

Quote:

''Barclays, which has taken advantage of government bailout schemes but has not accepted rescue capital from taxpayers, will today announce that bonuses for 2008 will be down by about half on average. Barclays Capital, its investment banking arm, is expected to pay out £600 million, while there will be additional bonuses for people in the retail and commercial arm of the bank.''

- Gordon Brown says banks will not 'reward failure' - Times Online

And your telling me that the government wont juggle the rescue capital around so that it does come from the taxpayer.

Benipete · 09-02-2009, 18:50

Not got a problem with bonuses,but until we all get our £33 thousand pounds each back I think they should put them on hold.

As someone said over the weekend,They may leave and go elsewhere but who the hell wants them.

Bonuses should be paid out of profits - could take a while.