Barclays announced on Thursday the sale of its retail financial services business in Germany to the Austrian banking institution Bawag, with the aim of continuing to simplify its organization.

The British bank explains that the transaction is in line with the strategy it presented at its Investor Day in February, aimed at focusing primarily on its private banking, corporate and investment banking businesses.

The scope of the retail financial services division concerned includes retail banking, credit cards, consumer loans and deposit accounts on the German and Austrian markets.

At March 31, the division had assets of around 4.7 billion euros.

Barclays points out that the transaction will free up capital requirements in the form of risk-weighted assets (RWAs) of around four billion euros, and improve its CET1 capital ratio by around 0.1 percentage points.

Following these announcements, the share price

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