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Barclays PLC (BARC)

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Wednesday 30 June, 2010

Barclays PLC

Statement re 2010 Performance

RNS Number : 5654O
Barclays PLC
30 June 2010
 



 

 

30 June 2010

 

Barclays PLC

 

Group Finance Director Comments on 2010 Performance 

 

 

At an investor seminar today focused on Barclays Global Retail Banking  businesses, Chris Lucas, Group Finance Director, commented on overall Barclays performance in 2010 as follows:

 

 

"At a Group level, the trends underlying our performance in Q2 have been similar to Q1 with the following exceptions:

 

1. As has been widely reported, Investment Banking market conditions in May and June have been softer, in particular reflecting lower levels of capital markets and M&A activity.

 

2. Whilst impairment trends in our Spanish Retail Banking business continue to improve, conditions in Barclays Corporate in Spain have worsened reflecting continued downward movements in real estate valuations in Spain.

 

3. Our guidance for impairment overall for Barclays in 2010 remains for an overall improvement over 2009 of between 15 and 20%.

 

4. Finally, Barclays credit spreads have widened over Q2 and this will result in a not insubstantial own credit gain."

 

 

 

-ENDS-

 

 

 

For further information please contact:

 

Investor Relations

Media Relations

Stephen Jones

Alistair Smith

+44 (0) 20 7116 5752

+44 (0) 20 7116 6132

 

 

About Barclays PLC

 

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 144,000 people. Barclays moves, lends, invests and protects money for over 48 million customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.


This information is provided by RNS
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