Barclays says no to lending targets
Share
Barclays would refuse to sign up to any government lending targets because it says it would encourage irresponsible lending.
Steve Cooper, head of the small business division at Barclays, told the Financial Times that banks were facing pressures from capital requirements.
The coalition agreement has pledged to introduce net lending targets for state owned banks.
But Cooper says: “I don’t want to create an expectation that if Barclays said no yesterday it could say yes tomorrow [because it has a target to achieve].”
He adds that there has been a real shift in risk profile and banks are required to hold a lot more capital.
Readers' comments (3)
Anonymous | 13 Aug 2010 2:45 pm
IF THIS ATTITUDE CONTINUES IT CAN ONLY DRIVE US BACK INTO RECESSION. THEY HAVE TO LOOK AT EACH CASE ON ITS OWN MERIT AND GET RID OF THE COMPUTER THAT SAYS NO. MY VIEW IS THAT ALL THE BIG BANKS LIKE THE RBS, HSBC ETC SHOULD BE BROKEN UP IN TO SMALLER BANKS THEREFORE BY HAVING SMALLER LENDERS IN COMPETITION WITH EACH OTHER THEY ARE ALL ON THE SAME LEVEL PLAYING FIELD OFFERING COMPETITIVE RATES TO THE PUBLIC, JOB DONE.
Unsuitable or offensive? Report this comment
Anonymous | 13 Aug 2010 4:07 pm
At the end of the day the government can have no influence over how Barclays choose to lend. The answer is quite simple. If the government believes that lending needs to increase then do itthemselves through the state owned banks. Once there looks to be a profit in it the others will follow suit. At that point the government will be in total control of lending.
Unsuitable or offensive? Report this comment
paul | 13 Aug 2010 4:32 pm
Isnt it funny how you feel like you can say whatever you like... As long as you hit the pretty anon button?!?!?
If they want to stop irresponsible lending i dont see the problem?
Unsuitable or offensive? Report this comment