Barclays CEO Says MFS Impairment Likely to Be Below £500 Million

Barclays Plc’s chief executive officer said he was “disappointed” by the bank’s exposure to collapsed property lender Market Financial Solutions Ltd. but said the anticipated impairment would be “materially lower” than £500 million ($668 million), the amount MFS owes the firm.

CS Venkatakrishnan said at a Morgan Stanley conference on Wednesday he still expected Barclays to meet targets for the quarter and the year, adding the firm was looking at the quality of its financial controls.