Barclays to curtail growth plan

 
“Anthony Jenkins, who took over as the global head of retail last month, has told his senior executives that their businesses must be of a meaningful size to merit further investment,” the Sunday Times said.

The bank’s ambitions in India are being scaled back, the Sunday Times said, adding that restrictions on foreign ownership there have made it hard for Barclays to expand.

Operations in a number of other countries are being ordered to drop plans for general expansion and instead focus on niche areas.