Barclays announces a bad debt provision of £2.1billion

Reporting Accounts - news and updates

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Barclays announces a bad debt provision of £2.1billion

Reporting Accounts - news and updates

In today's episode Adrian Lawrence our resident financial professional talks about how Barclays bank is putting aside £2.1billion as a provision for bad debts.  The UK and US economies have been badly impacted by the pandemic and the bank now expects a proportion of its lending during that time never to be repaid, as a result it is making a provision in its accounts to cover its expected losses.

Provision can sometimes be overly cautious and if that is the case then some of this provision will be released as a future profit, but there is also a good chance that the provision will be needed.  Once Government support is withdrawn then businesses in the UK and USA will face a day of reckoning as businesses and individuals become insolvent.

To learn more about our services at Reporting Accounts and how you can use our site to monitor companies for free, visit https://www.reportingaccounts.com where you will find information and insights covering more than 4.8million UK companies.

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In today's episode Adrian Lawrence our resident financial professional talks about how Barclays bank is putting aside £2.1billion as a provision for bad debts.  The UK and US economies have been badly impacted by the pandemic and the bank now expects a proportion of its lending during that time never to be repaid, as a result it is making a provision in its accounts to cover its expected losses.

Provision can sometimes be overly cautious and if that is the case then some of this provision will be released as a future profit, but there is also a good chance that the provision will be needed.  Once Government support is withdrawn then businesses in the UK and USA will face a day of reckoning as businesses and individuals become insolvent.

To learn more about our services at Reporting Accounts and how you can use our site to monitor companies for free, visit https://www.reportingaccounts.com where you will find information and insights covering more than 4.8million UK companies.

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