Barclays and HSBC impairment provisions soar

UK banks’ credit impairment provisions jumped £5.3 billion ($7.2 billion) in the three months to March 31 as the transition to new loan-loss accounting standards took effect.

An analysis of the six largest British banks’ first-quarter earnings reports found that the transition to IFRS 9, which came into force on January 1, has had the effect of swelling dealers’ loan-loss allowances. However, the impact of the switch varied dramatically across firms.

Barclays reported a £2.5 billion hike in

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: