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Barclays boss Bob Diamond plans to restore trust and burnish his bank's dented image
Bob Diamond, chief executive of Barclays, has launched a new ‘Citizenship Plan’ as part of a drive to restore trust and burnish his bank’s dented image – but offered no blueprint for reforming pay. The three-year plan, unveiled at the bank’s Canary Wharf headquarters, aims to support local communities, contribute to economic growth and improve integrity and service to customers. Under the plan, Barclays has made commitments to lend at least £150bn to households and to provide at least £50bn to small and medium-sized firms. The bank also plans to boost apprenticeship and work experience programmes to help young unemployed people start careers. Outside of the UK it is helping micro-entrepreneurs in Africa...Read more here-
#15corpio commentedEditing a commentSmall firms can't even get an overdraft as it emerges 50 are failing every day Small businesses are continuing to suffer because of a three-year lending drought and many are 'unable to obtain credit at any cost', the Bank of England has warned. To make matters worse many are having their overdraft facilities withdrawn, the Bank says. This can be devastating, abruptly removing a facility which they rely on to smooth over cashflow problems and keep their business afloat. It has also emerged that more than 50 firms a day are failing. Some firms which managed to get a loan said they have seen the interest rate increased 'over the past few months' and fees levied on loans have also gone up, the Bank's report on business conditions found. It adds: 'It had become harder to secure long-term funding from banks, increasing the frequency of re-negotiations and attendant charges.' ...Read more here
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