Barclays Bank has sold the UK Secured Lending (UKSL) portfolio, to a group led by Goldman Sachs and including Elderbridge (part of the Target Group) and Pollen Street Capital.

The bank says the sale is further evidence of progress in the re-shaping of Barclays Group to focus on its core businesses.

John McFarlane, Barclays chairman, said: “We continue to make solid progress in divesting assets from Barclays Non-Core.

“The sale of UK Secured Lending is further evidence of our ability to reduce these legacy assets, as we target a Risk Weighted Assets figure of around £20bn in 2017.”