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PPI Claim News - 22/1/2010

Credit Card Charges: Barclays may need to raise £17bn, says analyst

Barclays could be forced to increase its bank charges as it seeks to raise new funds.

According to a financial expert, Britain's second biggest bank may need to generate £17 billion in order to meet new capital requirements over the next three years, a task that could be made more difficult by its plummeting shares.

A report earlier this week by Bloomberg News revealed that the FTSE 100 Index has contracted by 0.8 per cent, with shares in Barclays declining 2.4 percent to 310.05 pence.

The contraction comes as Credit Suisse cut its share price estimate for the lender by 13 per cent to 350 pence.

Commenting on the statistics, London based analyst Jonathon Pierce said the bank may need to raise £17 billion in order to meet new capital requirements over the next three years.

"Our numbers suggest a potential sizeable capital deficit," Pierce wrote in a report today, according to the news provider.

Barclays was not the only "underperforming" bank to be affected by the drop in shares. The value of Europe's largest bank HSBC Holdings Plc declined by 2.4 per cent to 682.4 pence after Exane BNP Paribas downgraded the shares to "underperform".

The latest FTSE 100 figures come after the Office for National Statistics revealed UK price inflation had jumped by one per cent over the course of a year to stand at 2.9 per cent in December 2009.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from Barclays Plc then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000 .ADNFCR-2776-ID-19573312-ADNFCR

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