Barclays sells $1.1bn US credit card debt to Blackstone for expansion and risk reduction.
Barclays is selling $1.1bn in US credit card debt to Blackstone, aiming to free up capacity for expanding lending and reduce balance sheet risk. The deal, expected to fund in Q1 2024, is managed by Blackstone's Asset-Based Finance group, with Barclays continuing to service the accounts. This follows Barclays' strategy to prioritize consumer lending growth and release around £1bn in risk-weighted assets.
February 27, 2024
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