Barclays published earnings of ₤695 million ($76564 million) for the first half of 2020, while increasing its coronavirus-related arrangements.
The British bank included another ₤ 1.6 billion to its credit disability charges during the second quarter, bringing the overall level to ₤ 3.7 billion at the end of the first half.
CEO Jes Staley told CNBC the overall level of these reserves for loan losses was reached based upon “very conservative financial assumptions going forward.”
An indication hangs above an entrance to a branch of Barclays Plc bank in the City of London, U.K.
Bloomberg
source https://jobsearchtips.net/barclays-posts-revenue-slide-as-the-company-reserves-another-%e2%82%a4-1-6-billion-for-coronavirus-related-loan-losses/
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