Barclays has agreed to sell its Barclaycard consumer payments business in Portugal and Spain to Bancopopular-e, as part of its ongoing strategy to dispose of unwanted assets. The deal is expected to close by the end of this year, subject to regulatory approvals.
Barclays has agreed to sell its Barclaycard consumer payments business in Portugal and Spain to Bancopopular-e, as part of its ongoing strategy to dispose of unwanted assets. The business has assets worth £1bn, and the deal will result in a reduction in its risk weighted assets of £0.9bn, as well as removing around £70m of annual costs for Barclays, said the bank.