Barclays has posted pre-tax profits for fiscal
2009 of £11.6 billion ($18.1 billion), up 92 percent compared with
a year ago, boosted by a one-off gain of £5.6 billion from the sale
of asset management subsidiary Barclays Global Investors to
BlackRock.
But pre-tax profits at Barclays’Global Retail
and Commercial Banking (GRCB) unit fell sharply, down by 42.7
percent from £4.4 billion in 2008 to £2.5 billion.
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The fall in GRCB earnings was most marked
within the bank’s UK retail unit: a 55 percent fall in pre-tax
profits to £612 million in 2009 from £1.37 billion in the
previous year.
By contrast, attributable profit at
rival Santander’s UK unit rose by 55 percent for fiscal 2009 to
£1.54 billion.
Total savings account numbers at Barclays UK
arm increased by 10 percent to 13.2 million but total current
account numbers fell by 500,000 to 11.2 million.
Elsewhere within the unit:
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By GlobalData- Pre-tax profits fell 4 percent at card
unit Barclaycard to £761 million (total customer numbers fell
from 23.5 million at the end of 2008 to 21.2 million following a
purge of dormant accounts); - GRCB Western Europe pre-tax profits fell by 48 percent to £130
million; - GRCB Emerging Markets slipped to a loss of £254 million (2008:
pre-tax profits of £141 million) and - The bank’s South African-based subsidiary Absa posted
pre-tax earnings down by 8 percent at £506 million.
