UK's Barclays To Transfer German Consumer Finance Unit To Austria

UK's Barclays To Transfer German Consumer Finance Unit To Austria

05 Jul, 2024

UK's Barclays To Transfer German Consumer Finance Unit To Austria

 

Barclays is set to sell its German consumer finance unit, Consumer Bank Europe, to Austrian bank BAWAG Group AG for a small premium over net assets. The strategic sale, announced on Thursday, aligns with Barclays’ plan to simplify its European business operations and refocus on its core corporate, investment, and private banking sectors. This move will enable Barclays to release approximately 4 billion euros in risk-weighted assets and boost its CET1 ratio by around 10 basis points.

The German-based Consumer Bank Europe, which has been operating since 1991, serves customers in both Germany and Austria. As of the end of March, the unit held gross assets totaling 4.7 billion euros, primarily from card and loan receivables. The sale to BAWAG Group will expand the Austrian bank's loan portfolio and customer base in the region, enhancing its presence in the German and Austrian markets.

The deal, expected to close within six to nine months pending regulatory approvals, comes as part of Barclays’ broader strategy to streamline its European retail operations due to shifting consumer spending patterns post-COVID-19. The sale reflects Barclays’ commitment to strengthening its focus on high-value corporate and investment banking opportunities across Europe.

 


Related News

Intuit Launches UK Small Business Growth Council to Drive AI Innovation

03 Apr, 2025

Intuit has launched the UK Small Business Growth Council to…
Read More
Affirm and Adyen expand partnership to offer payment solutions in UK

20 Mar, 2025

Adyen, a global financial technology platform, has expanded its partnership…
Read More
UK and Japan strengthen partnership to advance robotics research globally

13 Mar, 2025

The United Kingdom Atomic Energy Authority (UKAEA) and Japan’s Fukushima…
Read More
UK and Japan strengthen partnership to advance robotics research globally

11 Mar, 2025

The United Kingdom Atomic Energy Authority (UKAEA) and Japan’s Fukushima…
Read More
UK and India Strengthen Ties with £41 Billion Growth Partnership

10 Mar, 2025

The UK is strengthening its ties with India through expanded…
Read More
UK Ministers Secure 17 New Deals to Boost UK-India Trade Collaboration

06 Mar, 2025

UK ministers have announced 17 new export and investment deals…
Read More

© 2025 Business International News. All rights reserved | Powered by Cred Matters.