Barclays sells UK secured lending business

7th Sep 2015 10:51

(ShareCast News) - Barclays has sold its UK secured lending portfolio to a group led by Goldman Sachs, which includes Elderbridge and Pollen Street Capital.The bank said the sale, which is part of Barclays non-core, has cut risk-weighted assets by a further £1.2bn and will have a positive impact on its common equity tier one ratio.Chairman John McFarlane 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."At 1055 BST, Barclays shares were up 0.7% at 1.70p.