Barclays Asian return

BARCLAYS’ high-end bank is eyeing a return to Asia and the Middle east less than two years after it sold out of the region.

The lender sold its Asian private bank – which targets wealthy customers – to Singapore’s Overseas-Chinese Banking Corporation in 2016 as part of chief executive Jes Staley’s plan to focus on the US and UK. But with the geographical market worth an estimated £ 3.7 trillion thanks to a surge in the newly-enriched middle classes, senior figures are reportedly plotting to return.

european and US lenders are rushing to grab a share of the increasingly affluent market in Asia, with Credit Suisse, UBS and Citigroup all vying for clients.