Barclays Plans to Offload Spanish Businesses to Caixabank
September 1, 2014 8:14 am
Barclays Banks (BARC.L) has announced plans to sell part of its Spanish businesses to spanish bank Caixabank as part of its ongoing asset disposal programme.
Barclays plans to sell its retail, corporate and investment management parts of the business in a deal though to be worth around £630Million cash. Barclays will retain its credit and investment arm.
The deal will see around 260 spanish branches transferred to the Caixabank brand.
Barclays also announced today the completion of a deal to sell its retail businesses in the United Arab Emirates to Abu Dhabi Islamic Bank for £199Million.
Chief exec Antony Jenkins said ”I am pleased to be announcing further progress on Barclays non-core asset reductions through the transactions announced today. We remain on track to rebalance Barclays as part of our strategy to deliver sustainable returns for our shareholders.”
Barclays Banks (BARC.L) has announced plans to sell part of its Spanish businesses to spanish bank Caixabank as part of its ongoing asset disposal programme.
Barclays plans to sell its retail, corporate and investment management parts of the business in a deal though to be worth around £630Million cash. Barclays will retain its credit and investment arm.
The deal will see around 260 spanish branches transferred to the Caixabank brand.
Barclays also announced today the completion of a deal to sell its retail businesses in the United Arab Emirates to Abu Dhabi Islamic Bank for £199Million.
Chief exec Antony Jenkins said ”I am pleased to be announcing further progress on Barclays non-core asset reductions through the transactions announced today. We remain on track to rebalance Barclays as part of our strategy to deliver sustainable returns for our shareholders.”
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