Barclays considering bid for Societe Generale's UK private bank, Kleinwort Hambros, in a potential £700m deal.

Barclays is reportedly considering bidding for Societe Generale's UK private bank, Kleinwort Hambros. SocGen has invited bidders, including Barclays, Lloyds Banking Group, and wealth managers Rathbones and Raymond James, to participate in an auction for the London-based private bank. SocGen has a value of up to £700m, and Barclays aims to expand its wealth management business. Barclays is set to release its full-year results on 20 February, where it is expected to announce a new group strategy.

February 15, 2024
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