Question · Q3 2025
Rob Noble from Deutsche Bank requested details on the economics of Barclays' private credit business, including spreads, risk weights, and growth, and whether the Bank of England's scrutiny might deter future growth. He also asked about the Kensington mortgage book, which has doubled to around £4 billion, and if Barclays plans to expand into other specialized lending areas in the UK.
Answer
CS Venkatakrishnan, Group Chief Executive, Barclays, referred to the private credit disclosure slide, noting stable, slow growth. He emphasized strong credit controls, working with top-tier players, secured financing against diversified loan pools, and limits on concentrations. He welcomed the Bank of England's review, confident in Barclays' risk management. Anna Cross, Group Finance Director, Barclays, confirmed Kensington balances are around £4 billion, highlighting its 30 years of experience in client and product affordability assessments and its contribution to blended mortgage margins. She mentioned a stage three securitization from Kensington in Q3, indicating sophisticated risk capability, but did not specify plans for other specialized lending areas.