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Its provisions for bad loans dropped 36 percent.
The fall was caused by higher provisions for bad loans and rising interest costs.
All of them make inadequate provisions for bad loans, allowing them to overstate their income.
If you can make provisions for bad loans, why not bad maths too?
Provisions for bad debts are huge – £8.1bn – but not as high as had been anticipated.
Fewer provisions for bad loans and reduced funding costs, now that a price war for deposits has subsided, should help.
Analysts said that the decline in provisions for bad loans was smaller than those of some of Barclays rivalss.
Provisions for bad loans and other credit at the entire company fell 32 percent, to £3 billion.
The increase in the bank's provisions for bad loans has helped to support Santander's struggling Spanish operations.
However, investors took fright at the German bank's provisions for bad loans, which swelled to €1 billion.
Korea Exchange, the nation's fifth-largest lender, needs money to bolster capital eroded by provisions for bad loans.
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