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Bank profits down

Personal finance provider Barclays announced a first-half pre-tax profit down from £4.1 billion to £2.75bn.

HSBC’s profits dropped by £2.12bn to £5.2bn and nationalised Northern Rock (now out of personal loans) made a £585m loss, but repaid £9.4bn of a loan from the Bank of England, reducing the amount owed to £17.5bn.

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