Barclays sells Consumer Bank Europe to Bawag Group, streamlining operations and releasing €4bn in assets.
Barclays agrees to sell its German consumer finance business, Consumer Bank Europe, to Bawag Group AG for a small premium to net assets. The transaction is part of Barclays' efforts to streamline its operations and footprint, releasing €4bn in risk-weighted assets and boosting its CET1 ratio by around 10 basis points. The deal is subject to approvals and is expected to conclude in six to nine months.
July 04, 2024
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