Barclays Approves More Than GBP1.67 Billion in Loans to Help Companies During Pandemic
May 07 2020 - 6:59AM
Dow Jones News
By Sabela Ojea
Barclays PLC said Thursday that it has approved 1.67 billion
pounds ($2.06 billion) in loans to help large and small businesses
during the coronavirus pandemic.
The bank said it has approved 5,270 loans valued at more than
GBP1 billion as part of the Coronavirus Business Interruption Loan
Scheme aimed at large businesses. It said it expects this figure to
rapidly increase in the coming weeks.
The London-listed lender also said it approved loans for 20,000
small businesses, which totaled GBP670 million.
"We're continuing to extend credit to companies and there is
GBP50 billion of lending limits available to our U.K. clients,"
Chief Executive Jes Staley said.
Shares at 1017 GMT were up 2.08 pence, or 2.1%, at 102.94
pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
May 07, 2020 06:44 ET (10:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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