Barclays hints at revenue-raising deal

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The Independent Online

Banking giant Barclays today fuelled speculation that it is to seek a £4 billion cash injection from overseas investors.

The group said the issue of equity to new and existing investors was under "active consideration" after weekend press reports that it was holding talks with six potential so-called sovereign wealth fund investors.

Barclays also sought to reassure over trading, stressing that profits before tax in May were "well ahead" of last year's monthly run rate.

Its retail and commercial banking divisions were delivering "strong growth in profits", while investment banking profits were in line, added Barclays.

News of a possible capital-raising exercise by Barclays follows major rights issues from the Royal Bank of Scotland - which raised £12 billion - and Halifax Bank of Scotland, whose shareholders are being asked for £4 billion.

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