Two British leading banks — HSBC and Barclays, assure that the most dramatic phase of the financial crisis is over and economy is out of recession. However unemployment remains an issue.

Barclays resumed dividend payments for the first time in 15 months and said bad debts this year would be at the bottom end of earlier forecasts of £9bn-£9.6bn, telegraph.co.uk reads.

According to the source, bad debts at Barclays jumped sharply within last 9 months, by 65pc to £6.2bn, due to the deteriorating economy.

As for HSBC, the bank’s profitability as of Jan.-Sept. 2009 was more than expected – compared to the same period last year.