Barclays has announced plans to increase lending in the UK by approximately £45 billion over the next three years. This move comes alongside a commitment of £4.4 billion in direct investment into its own UK operations.
The announcement follows recent findings from the Barclays Business Prosperity Index, released on November 18, which indicated that many UK businesses were cautious ahead of the Government’s Autumn Budget. More than half of surveyed businesses reported delaying investment decisions until after the fiscal event. Despite this uncertainty, business leaders expressed confidence in their future prospects and indicated readiness to proceed with investments once budget details were known.
Similarly, Barclays’ October Consumer Spend report highlighted that one in three consumers postponed major purchases pending the Budget announcement.
With the Budget now delivered, Barclays is emphasizing its ongoing commitment to supporting both businesses and consumers throughout the country. The bank notes positive momentum in lending across retail customers and businesses nationwide.
C. S. Venkatakrishnan, Group Chief Executive of Barclays, stated: "We believe in the strength and dynamism of the UK. Since 2024 Barclays has invested significant capital into our UK divisions to support our customers and UK businesses. Over the next three years, we will increase our lending by approximately £45 billion, alongside £4.4 billion of direct investment in our own UK operations. Barclays continues to invest in the UK, driving prosperity for the customers, clients and communities we serve. Together we will mobilise economic growth across the UK."
Barclays describes itself as a diversified bank with broad consumer, corporate, wealth management, private banking franchises in the UK, a leading investment bank, and a specialist US consumer bank.