Barclays (BCS) expects the potential impairment from its exposure to Market Financial Solutions to be "materially lower" than 500 million British pounds ($667.7 million), Bloomberg reported Wednesday, citing chief executive officer CS Venkatakrishnan.

Venkatakrishnan said at a Morgan Stanley conference Wednesday that he was "disappointed" by the bank's exposure to the collapsed property lender, Bloomberg reported.

Bloomberg has previously reported that Barclays is owed about 500 million pounds by companies linked to MFS, which collapsed last month, the report said. The bank also had exposure to subprime auto lender Tricolor, which also collapsed few months earlier, the report added.

"Obviously I'm disappointed we had anything to do with either," the report quoted Venkatakrishnan as saying. "I take risk management very seriously and we don't like to find ourselves in these situations."

He said Barclays still expects to meet its targets for the quarter and the year and is reviewing the quality of its financial controls, the report said.

Barclays did not immediately respond to requests for comment from MT Newswires.

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