Barclays Completes Sale of German Consumer Finance Business

Barclays (BCS) has completed the sale of its German consumer finance business, Consumer Bank Europe, to BAWAG P.S.K., a subsidiary of Austria-based BAWAG Group AG. This move aligns with the company’s plan to streamline its operations as outlined in the Investor Update in February 2024.Consumer Bank Europe, covering the German and Austrian markets, had gross assets of €4.7 billion as of March 31, 2024, primarily in card and loan receivables.While the financial terms of the deal, announced in July 2024, were ...