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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Barclays cuts back risky lending after £228m hit from UK mortgage firm MFS

Barclays MFS United Kingdom CS Venkatakrishnan Tricolor
The logo of Barclays is seen on the top of one of its branches in Madrid
Barclays’ quarterly income from investment banking topped £4bn for the first time. Photograph: Sergio Pérez/Reuters

Barclays is pulling back from lending to risky borrowers, as its chief executive warned of increasing numbers of fraud cases and the bank took a £228m hit from the failure of a mortgage lender.

The mortgage lender Market Financial Solutions (MFS) collapsed in February amid allegations of fraud, and the UK’s financial regulator has since launched an investigation into the scandal.

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