Banks boom despite spiralling debt
Updated on 03 August 2009
The boom is back, for the country's leading banks at least, as Barclays and HSBC announce combined profits of almost £6bn for the first half of the year. Our business reporter John Sparks has more.
Shares in both banks rose sharply as they reported record revenues from their investment banking arms, with bankers on course for massive bonus payments.
But the banks also revealed a total of almost £13bn on bad debts from recession-hit customers defaulting on mortgages and other loans.
