Barclays intends to increase lending to its UK customers and clients in 2009 by £11bn, with half of that figure going to homeowners and homebuyers.
This represents an increase of 6% on UK loan balances at the end of 2008. Speaking at Barclays' annual general meeting today, John Varley, the bank's group chief executive, says: "At a time when customers are seeking to cope with the economic downturn, and governments and supervisors are dealing with the effects of the financial crisis, we want to do our part in getting credit to customers. Activity by households and businesses will help restore sustainable growth to the UK economy. "This is a good time to lend, in circumstances where the commercial and risk terms make sense to our custom...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
