Results tagged “write-offs”

Rising impairment charges limited profits at Barclays in the third quarter as the shadow of write-downs continues to hang over banks.

The bank reported on Tuesday that charges had surged to £6.2billion in the first nine months of the year, more than two thirds more than at the same point last year.

HSBC has announced pre-tax profits in the third quarter of this year, despite writing off several billion dollars in US home loans.

The banking giant revealed it would be taking a hit on $4.3billion (£2.7billion) in loans connected to the US sub-prime housing market, which helped spark the current credit crisis when it collapsed last year.