Let’s celebrate Barclays results

David Kuo from The Motley Fool comments

David Kuo, Director of financial website The Motley Fool – Fool.co.uk, says: “We should be celebrating Barclays results⁽¹⁾ today, not nitpicking at the bonus that it is paying to staff. The British bank has not only reported higher profits than Spain’s Banco Santander and put Germany’s Deutsche Bank in the shade but it could even steal a march on the UK’s biggest bank HSBC.

“Investors should be reassured that Barclays has recommenced dividend payments this year albeit at a prudently-low level. However, income seekers will need to exercise patience or look elsewhere for better returns - Barclays’ progressive dividend is unlikely to shoot the lights outs at this stage in its recovery.

“That said, a recovery at the bank looks on the cards. It has managed to report profits throughout the global economic downturn. If it can do that when times are tough then that bodes well for the bank when global economies recover too.”

-ENDS-

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Notes to Editors:

1)    Full-year pre-tax profits of £11.6 billion (2009) compared to £6.1 billion (2008)  

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