Profits at Barclays Plc’s commercial banking unit stayed flat at
£1.4bn in 2007 compared with the previous year as higher impairment
charges and operating charges and lower gains on asset sales offset
an increase in income.
Net interest income increased 2.1 per cent while non-interest
income surged 32 per cent, lifting total income up by 7 per cent to
£2.6bn. The bank said this reflected its focus on cross sales and
efficient balance sheet utilisation.
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Barclays Commercial Bank’s (BCB) services include specialist
asset financing and leasing facilities.
As at 2007, the total assets rose to £73.9bn from £65.9bn in
2006 as loans and advances to customers rose to £63.6bn during the
year.
As with the rest of the banking sector, Barclays said it had
become more careful with lending to customers as a result uncertain
market and liquidity conditions.
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