By Sabela Ojea

 

Barclays PLC said Thursday that it has approved 1.67 billion pounds ($2.06 billion) in loans to help large and small businesses during the coronavirus pandemic.

The bank said it has approved 5,270 loans valued at more than GBP1 billion as part of the Coronavirus Business Interruption Loan Scheme aimed at large businesses. It said it expects this figure to rapidly increase in the coming weeks.

The London-listed lender also said it approved loans for 20,000 small businesses, which totaled GBP670 million.

"We're continuing to extend credit to companies and there is GBP50 billion of lending limits available to our U.K. clients," Chief Executive Jes Staley said.

Shares at 1017 GMT were up 2.08 pence, or 2.1%, at 102.94 pence.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

May 07, 2020 06:44 ET (10:44 GMT)

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