Barclays considering rights issue
On Monday Barclays said that the possibility of it conducting a rights issue was "under active consideration". The bank said it was confirming the possibility of the rights issue following recent speculation.
RBS profits up 9 percentBarclays added that its group profit in May was well ahead of its monthly run rate for 2007. Relative to May 2007 the group's Global Retail and Commercial Banking continued to deliver strong profit growth and profits were reported as being in line in the Investment Banking and Investment Management arms of the group.
Should they decide to proceed with the rights issue, Barclays would become the latest major bank to look to its shareholders to boost its capital following losses inflicted by the credit crunch.
Royal Bank of Scotland recently completed a record £12 billion rights issue, whilst HBOS is currently in the midst of a £4 billion rights issue.
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