Barclays to try dump bad-debt clients

BANKING giant Barclays is preparing to sell part of its Barclaycard credit card business in a bid to cut its exposure to bad debts, it was reported today.

The company has begun moves over a £1 billion (€1.48bn) sale of its Monument credit card business and retail finance arm Clydesdale Financial Services, the Mail on Sunday newspaper said.

The move comes as the bank’s results for 2006 on Tuesday are expected to show pre-tax profits soar by nearly a third to more than €10.4bn.