Barclays and HSBC report strong underlying profits

Author: By Holly Williams, Press Association

Barclays said a third-quarter haul of £1.5 billion helped profits more than
double in the first nine months on an adjusted basis, while HSBC reported
results “significantly ahead” in the quarter to 30 September.

The pair, which have avoided turning to the Government for state aid, gave
hope that bad debts among recession-hit borrowers were starting to level off
as they reported sharp quarter-on-quarter falls in impairment charges.

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