By Carlo Martuscelli

Barclays PLC (BARC.LN) said on Friday that a U.K. court had approved of its plans to set up a ring-fenced bank, Barclays Bank UK PLC, which will be separate from Barclays Bank PLC.

This will be done in order to comply with banking reforms aiming to strengthen the U.K. financial system after the 2008 financial crisis, Barclays said.

It will set up the ring-fenced bank in April 2018, ahead of the Jan. 1, 2019 deadline for implementation of ring-fencing, it added.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

March 09, 2018 11:49 ET (16:49 GMT)

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