Barclays Profits Dive By 26% In Third Quarter

[charitynjw]

http://uk.news.yahoo.com/ppi-scandal...e.html#u0V93K6

• View PhotoBarclays Profits Dive By 26% In Third Quarter

Barclays has confirmed a 26% fall in quarterly profits.
The third quarter brought in £1.39bn, amid higher spending to achieve its transformation objectives and lower earnings from its investment banking operations.
Profits over the first nine months of the year were down 20% to £4.97bn.
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[FlamingParrot]

Re: Barclays Profits Dive By 26% In Third Quarter

Profits over the first nine months of the year were down 20% to £4.97bn.

I'm crying for them and their $hareholder$!



This reminds me of the days when I used to work for a Big Bad Financial Institution (a foreign investment bank, not a UK retail banking outfit), and we used to get 'broadcast' emails sent to each and every employee. In the years after the .com crash (2000-2002), such emails often said there would have to be cuts across the board, headcount reductions, etc. due to profits having dropped from, say, £4bn to £3.5bn! I found those emails most insulting, they were still making BI££ION$ in profits, yet they were making it sound as if they were experiencing big losses!

I'm sure individual bonu$e$ will be down from £2.25m to just £1.75m. I remember when some bankers were suing their employers because they had received a bounu$ of *just* £2m, when they were expecting £4m or £5m because they'd been promised a certain percentage based on the volume of tran$action$ they got involved in during the past year. That was 2 or 3 years before the Credit Crunch. $ay$ it all!