Barclays plays down £20bn exposure to private credit industry

CEO says bank has ‘right controls’ in place despite warnings about industry from IMF and Bank of England

Barclays has insisted it has the right controls in place to manage a £20bn exposure to the under-fire private credit industry despite warnings from the International Monetary Fund (IMF) and the Bank of England.

The bank’s chief executive, CS Venkatakrishnan, said it ran a “very risk-controlled shop” and was comfortable with its lending standards for the private credit industry.