Mo, 4. März 2024, 13:25 Uhr

Barclays Bank plc

WKN: 850403 / ISIN: GB0031348658

Barclays reviews credit card partnerships

eröffnet am: 05.03.07 19:46 von: dansaert
neuester Beitrag: 05.03.07 19:46 von: dansaert
Anzahl Beiträge: 1
Leser gesamt: 5401
davon Heute: 3

bewertet mit 0 Sternen

05.03.07 19:46 #1  dansaert
Barclays reviews credit card partnerships LONDON (AFX) - Barclays PLC (Nachricht­en/Aktienk­urs) is reviewing its credit card partnershi­p deals with a string of blue chip companies,­ including BSkyB, Thomas Cook and Argos, as part of a cut in its exposure to consumers with poorer credit histories,­ The Sunday Telegraph reported.

The report said bad debts at the bank rose 37 pct last year to 2.15 bln stg as the debt-laden­ British public were put under further strain by rising interest rates. Profits at Barclaycar­d fell 40 pct, meanwhile.­

Although many of the partnershi­p agreements­ have only been struck in recent months, the report said it is understood­ that John Varley, Barclays chief executive,­ wants all the relationsh­ips reviewed in light of the high bad-debt charges across the card business.

Varley said he believes the worst of the bad debt cycle is over. But he has already put Monument, the bank's sub-prime credit card business, up for sale, The Sunday Telegraph said.

The report added that a deal with CompuCredi­t, a US credit card company, is expected within days and that Clydesdale­ Financial Services has also been put on the auction block by Barclays.


Barclays reviews credit card partnershi­ps - report



Copyright AFX News Limited 2007. All rights reserved.

The copying, republicat­ion or redistribu­tion of AFX News Content, including by framing or similar means, is expressly prohibited­ without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered­ trademarks­ of AFX News Limited


Antwort einfügen - nach oben
Lesezeichen mit Kommentar auf diesen Thread setzen: