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Bad debt blow for Barclaycard

Your Money
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Your Money
Posted:
Updated:
03/08/2006

Barclaycard’s business has suffered as the UK’s largest credit card provider has been forced to increase provision for bad debt.

Profits fell sharply by 14% to £297m as overall charges relating to the writing-off of debts rose by 30%.

Barclays said it anticipates “challenging” conditions to prevail in the UK, as debt levels increased and the number of personal bankruptcies rose.
 


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