Barclays sells UK secured lending portfolio

Lynsey Barber
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Barclays continues disposing on its non-core business (Source: Getty)

Barclays has sold off another of its non-core assets, just days after offloading most of its Portuguese business.

The bank has now sold its UK secured lending portfolio to a group led by Goldman Sachs for an undisclosed sum, which it said would reduce its risk-weighted assets by £1.2bn and improve its capital ratio.

Read more: Barclays flogs Portuguese assets

“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," said Barclays chairman John McFarlane.

The sale last week of its retail banking, wealth and investment business in Portugal will reduce its risk-weighted assets by £1.7bn.

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