, LONDON, Oct 12 – Barclays plans to spin off complex credit assets worth four billion pounds as the British bank looks to further clean up its balance sheet, the Financial Times reported on Monday.
Barclays will shift the equivalent of 4.3 billion euros or 6.3 billion dollars from its balance sheet to ease shareholder concerns over its investments, according to people familiar with the matter, added the FT.
The bank refused to comment on the report when questioned by AFP.
Any spin-off would echo a similar transaction undertaken by Barclays last month with assets worth 12.3 billion pounds, added the FT sources.
Reacting to the report, ETX Capital trader Manoj Ladwa said "Barclays plans to rid itself of a further four billion pounds of potentially toxic assets will be welcomed by the markets."