market financial solutions

Barclays Tightens Lending After £228m Hit From Failed Mortgage Lender

Barclays is restricting lending to risky borrowers after taking a £228m hit from the collapse of mortgage lender Market Financial Solutions amid fraud allegations. The bank reported Q1 pre-tax profit of £2.8bn, up 3%, but credit impairment charges rose to £823m from £643m a year earlier. CEO CS Venkatakrishnan cited increasing fraud cases and the failure of three borrowers including Tricolor and First Brands, raising concerns about lending standards in the $2tn private credit industry.