The FINANCIAL — Barclays Bank PLC has sold the UK Secured Lending portfolio, to a group led by Goldman Sachs and including Elderbridge (part of the Target Group) and Pollen Street Capital.
The sale of UKSL, which is part of Barclays Non-Core, has reduced Risk Weighted Assets by a further £1.2bn and will have a positive impact on Barclays’ CET1 ratio, according to Barclays.
The transaction is further evidence of progress in the re-shaping of Barclays Group to focus on its core businesses.
John McFarlane, Barclays Chairman said: “We continue to make solid progress in divesting assets from Barclays Non-Core. The sale of UK Secured Lending is further evidence of our ability to reduce these legacy assets, as we target a Risk Weighted Assets figure of around £20bn in 2017.”
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