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Barclays lending hits £20.6bn so far in 2010, more than in whole of 2009

Barclay’s gross mortgage lending in the first nine months of 2010 has exceeded its lending for the whole of 2009.

In its interim management statement last week, the lender revealed that gross mortgage lending has hit £20.6bn, with net lending at £4.8bn. It had a 9.9% share of the mortgage market in 2009, with gross lending of £14.2bn.

Its interim statement also revealed that its UK retail banking pre-tax profit increased 20% to £734m, compared with £610m in the first nine months of 2009. Impairments are down 31% to £4.3bn from £6.2bn last year. Group profit before tax for the year to date is up 4% to £4.3bn from £4.1bn in 2009.

John Varley, group chief executive of Barclays, says: “Our capital, leverage and liquidity ratios remain strong.

“We are well equipped to deal with regulatory change as Basel III is implemented between now and 2019.”

Savills Group, parent of Savills Private Finance, also released its interim management statement last week.

The group says it anticipates its underlying profit before tax for the year to December 31 2010 will be more than £40m.

This compares with its underlying pre-tax profit of £25.2m in 2009.

It says revenue at Savills Private Finance has continued to be stable, but the mortgage market remains stagnant.

Legal & General also revealed in its interim management statement last week that its worldwide sales increased by 27% in the first nine months of 2010 to £1.34bn, up from £1.05bn during the same period last year.

In the UK, its housing and pro-tection business increased to £133m, up from £130m in 2009.

It says the weak housing market continues to depress demand, although intermediaries in the protection market are replacing the loss of income from mortgage business with sales of other protection products.


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