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Evening Standard
Evening Standard
Anna Wise

Barclays sets aside £823m for bad debts after fraud hit but profits rise

Barclays Venkat United States
Barclays reported lower earnings and cut its profitability forecasts, as it revealed it is considering cutting costs (Alamy/PA) -

Barclays has revealed it set aside more than £800 million for bad debts related to the collapse of a mortgage lender and as it builds a buffer amid geopolitical turmoil despite reporting an uptick in earnings for the first quarter.

The £823 million provision for loans expected to turn sour was increased from £643 million a year ago.

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