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Barclays sells UK Secured Lending business

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Staff writer ▼ | September 8, 2015
Barclays Bank plc has sold the UK Secured Lending (UKSL) portfolio, to a group led by Goldman Sachs and including Elderbridge (part of the Target Group) and Pollen Street Capital.
John McFarlane
Selling   Barclays is selling non-core business
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.

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.”