Barclays’ Scottish corporate banking team sees H1 progress

Barclays Corporate Banking has hailed its progress in the first half of its financial year, saying it has achieved double-digit income growth every year for the past decade.

Jamie Grant, head of corporate banking for Barclays in Scotland, praised a 'strong' six months. Picture: Neil Hanna.

The unit has seen 5 per cent growth in its loan book and 15 new deals in the local market between 1 April and 30 September.

The bank added that it continues to grow its market share and investment in Scotland following the news that it is to create 2,500 jobs when its state-of-the-art campus opens in Glasgow next year.

It also said whisky is an industry where it has seen "significant" growth on the back of a bespoke funding package that lends against a distillery’s inventory, the value of which increases as the whisky matures.

Barclays also hailed building materials and construction as "flourishing" sectors, with the bank recently providing funding to help the management buyout of building materials suppliers Keith Builders Merchants.

Jamie Grant, head of corporate banking for Barclays in Scotland, said: “It’s been a strong six months, with excellent growth across a variety of sectors. Our funding has helped businesses to grow, enter new markets, restructure, make acquisitions and facilitate management buyouts.

“Where some companies are scaling back, we are continuing to invest in Scotland as illustrated by our multi-million-pound, state-of-the-art campus in Glasgow which is currently under construction."