Barclays slams small business lending targets

LONDON - The head of Barclays' small business unit has criticised the idea of industry-wide government targets for lending to small firms. Steve Cooper told the Financial Times that it could result in banks agreeing loans to meet targets rather than on the merits of applications.

The government is exploring the option of extending targets to all banks, not just ones in which it owns a stake. There are fears that insufficient bank lending is holding back recovery. 

The governor of the Bank of England this week described constrained lending as a "headwind" facing the UK economy.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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