Barclays sells UK loans to Goldman Sachs Group for £1.6bn
Barclays has sold a &pound;1.6bn portfolio of UK loans to a group of investors lead by Goldman Sachs, as part of its ongoing strategy of selling its non-core assets. Barclays' non-core assets had been cut to &pound;57bn by the end of June, and it aims to reduce the total to c. &pound;20bn by the end of 2017.
LONDON — Barclays said on Monday that it had sold a portfolio of loans that included its secured lending business in Britain to a consortium of investors led by Goldman Sachs.

The sale represents the latest divestiture of a noncore business as the British bank looks to speed its overhaul under the leadership of its chairman, John McFarlane, who has a reputation for taking a hands-on approach to cutting costs.

Barclays is undertaking a restructuring that has slashed the size of its investment bank. The lender is focusing on several core or growing businesses, which include its corporate and retail bank in Britain, its African banking business and its Barclaycard credit card operations.

It has also shed several businesses it considers noncore. The lender announced last week that it was selling its retail banking, wealth management and part of its corporate banking businesses in Portugal to the Spanish lender Bankinter.