A number of the biggest banks in the UK have revealed their financial results for the first 6 months of 2009. The figures give out quite a mixed message as, one the one hand, Barclays actually improved from the same time in 2008, with profits going from £2.75 billion to £2.98 billion. This contrasts with Northern Rock, the state-owned bank that was nationalised in 2008 after it had to be bailed out in 2007 by the taxpayer, who displayed increased losses of 24%, totalling £742 million in the first half of 2009.
HSBC still made positive figures, but profits fell by 43% compared to January-June 2008, this follows a trend where the banks profits were reduced by 26% in the same period of 2007. Lloyds Banking Group has been making headlines after they recorded a huge loss of £4 bn or more in the first half of 2009, although this is purportedly down to the debts and bad assets taken on during the takeover of HBOS last year.