Increase in Profits at Barclays

Barclays have announced an 8% rise in profits for the first half of 2009. Profits rose to £2.98 billion thanks to its investment division. Barclays acquired part of the Lehman Brothers business in 2008. Barclays presence in America has increased and now accounts for 40% of its income. However bad debts rose from to £2.54 billion to £4.56 billion and bad debts at Barclaycard increased by 92% to £915 million.