Barclays impairments charges rising

Following a struggle by Barclays to see the return of debts on credit cards, the bank has announced it will be raising its impairment charge.

The last time credit provisions and impairment charges rose to £589 million, which was an increase of 20 per cent.

This hike was mainly the result of a reduction in recoveries in UK credit cards and a rise in delinquencies.

The bank told whatinvestment.co.uk that the rise in impairment charges was slow for unsecured loans and steady for mortgages. While in the wholesale and corporate businesses it decreased.