[6-K] Barclays PLC Current Report (Foreign Issuer)
Barclays announced that its subsidiary Barclays Principal Investments Limited will sell its entire shareholding in joint venture Entercard Group AB to joint venture partner Swedbank AB (publ). Entercard, founded in 2005, provides consumer credit across Sweden, Norway, Denmark and Finland and had total assets of SEK36 billion as at 31 March 2025, mainly card and loan receivables. Swedbank will buy BPIL’s stake at book value, equivalent to half of Entercard’s net assets and estimated at SEK2.6 billion as of 31 March 2025, payable in cash on completion. On completion Entercard will repay funding of about £1.2 billion currently provided by Barclays Bank PLC. Barclays expects the sale to release c.£0.9 billion of risk-weighted assets, raising its CET1 ratio by c.4 basis points based on the 30 June 2025 CET1 ratio. Completion is expected by year-end 2025, subject to regulatory and competition approvals.
Barclays ha annunciato che la sua controllata Barclays Principal Investments Limited venderà l’intera partecipazione nella joint venture Entercard Group AB al partner di joint venture Swedbank AB (publ). Entercard, fondata nel 2005, offre credito al consumo in Svezia, Norvegia, Danimarca e Finlandia e al 31 marzo 2025 presentava attività totali per SEK36 miliardi, principalmente crediti da carte e prestiti. Swedbank acquisterà la quota di BPIL al valore contabile, equivalente alla metà del patrimonio netto di Entercard e stimata in SEK2,6 miliardi al 31 marzo 2025, pagabili in contanti al completamento. Al closing Entercard rimborsarà finanziamenti per circa £1,2 miliardi attualmente forniti da Barclays Bank PLC. Barclays prevede che la vendita libererà circa £0,9 miliardi di attività ponderate per il rischio, aumentando il suo CET1 di circa 4 punti base sulla base del ratio al 30 giugno 2025. Il completamento è atteso entro la fine del 2025, soggetto a approvazioni regolamentari e antitrust.
Barclays anunció que su filial Barclays Principal Investments Limited venderá toda su participación en la joint venture Entercard Group AB al socio de la joint venture Swedbank AB (publ). Entercard, fundada en 2005, ofrece crédito al consumo en Suecia, Noruega, Dinamarca y Finlandia y contaba con activos totales por SEK36.000 millones al 31 de marzo de 2025, principalmente saldos de tarjetas y préstamos. Swedbank comprará la participación de BPIL al valor contable, equivalente a la mitad del patrimonio neto de Entercard y estimada en SEK2.600 millones al 31 de marzo de 2025, pagaderos en efectivo al cierre. Tras la operación, Entercard reembolsará financiamiento por unos £1.200 millones actualmente provistos por Barclays Bank PLC. Barclays espera que la venta libere aproximadamente £900 millones de activos ponderados por riesgo, elevando su ratio CET1 en alrededor de 4 puntos básicos respecto al ratio del 30 de junio de 2025. La operación se espera cerrar antes de finales de 2025, pendiente de aprobaciones regulatorias y de competencia.
Barclays는 자회사 Barclays Principal Investments Limited가 합작사 Entercard Group AB에 대한 보유 지분 전부를 합작 파트너인 Swedbank AB (publ)에 매각한다고 발표했습니다. 2005년 설립된 Entercard는 스웨덴, 노르웨이, 덴마크, 핀란드에서 소비자 신용을 제공하며, 2025년 3월 31일 기준 총자산은 대부분 카드 및 대출 채권으로 구성된 SEK360억였습니다. Swedbank는 BPIL의 지분을 장부가치로 취득하며, 이는 Entercard 순자산의 절반에 해당하고 2025년 3월 31일 기준 SEK26억으로 추산되며 완료 시 현금으로 지급됩니다. 거래 완료 시 Entercard는 현재 Barclays Bank PLC가 제공 중인 약 £12억의 자금을 상환할 예정입니다. Barclays는 이번 매각으로 약 £9억의 위험가중자산이 해제되어 2025년 6월 30일 기준 CET1 비율을 약 4 베이시스 포인트 높일 것으로 예상합니다. 거래 완료는 규제 및 경쟁 당국 승인 조건에 따라 2025년 연말까지 예상됩니다.
Barclays a annoncé que sa filiale Barclays Principal Investments Limited cédait l’intégralité de sa participation dans la coentreprise Entercard Group AB au partenaire de la joint-venture Swedbank AB (publ). Créée en 2005, Entercard propose du crédit à la consommation en Suède, Norvège, Danemark et Finlande et détenait au 31 mars 2025 des actifs totaux de SEK36 milliards, principalement des créances de cartes et de prêts. Swedbank achètera la participation de BPIL à la valeur comptable, équivalente à la moitié des capitaux propres d’Entercard et estimée à SEK2,6 milliards au 31 mars 2025, payable en espèces à la clôture. À la clôture, Entercard remboursera des financements d’environ £1,2 milliard actuellement fournis par Barclays Bank PLC. Barclays prévoit que la vente libérera environ £0,9 milliard d’actifs pondérés en fonction des risques, augmentant son ratio CET1 d’environ 4 points de base sur la base du ratio au 30 juin 2025. La clôture est attendue d’ici la fin 2025, sous réserve des approbations réglementaires et de la concurrence.
Barclays gab bekannt, dass seine Tochtergesellschaft Barclays Principal Investments Limited ihre gesamte Beteiligung an dem Joint Venture Entercard Group AB an den Joint-Venture-Partner Swedbank AB (publ) verkaufen wird. Entercard, 2005 gegründet, bietet Konsumentenkredite in Schweden, Norwegen, Dänemark und Finnland an und hatte zum 31. März 2025 Gesamtaktiva von SEK36 Milliarden, hauptsächlich Karten- und Kreditforderungen. Swedbank erwirbt den Anteil von BPIL zum Buchwert, entsprechend der Hälfte des Eigenkapitals von Entercard und zum 31. März 2025 auf SEK2,6 Milliarden geschätzt, zahlbar in bar bei Abschluss. Mit Abschluss wird Entercard Finanzierungen von rund £1,2 Milliarden zurückzahlen, die derzeit von Barclays Bank PLC bereitgestellt werden. Barclays rechnet damit, dass der Verkauf rund £0,9 Milliarden risikogewichteter Aktiva freisetzt und seine CET1-Quote um etwa 4 Basispunkte auf Basis der Quote vom 30. Juni 2025 erhöht. Der Abschluss wird bis Ende 2025 erwartet, vorbehaltlich regulatorischer und wettbewerbsrechtlicher Genehmigungen.
- Sale at book value to JV partner suggests no immediate impairment or loss recognized on disposal
- Releases c. £0.9bn of RWAs, modestly improving capital efficiency
- Estimated CET1 benefit of c.4bps enhances regulatory capital headroom
- Completion by year-end 2025 expected, subject to approvals, indicating a clear near-term timeline
- Proceeds equal book value (SEK2.6bn), so no material upside from a sale at a premium
- Subject to regulatory and competition approvals, creating execution and timing risk
- Removal of c. £1.2bn funding currently provided to Entercard reduces asset yields and future fee opportunities
Insights
TL;DR: Divestment reduces Barclays' RWA and slightly improves CET1; proceeds equal book value so limited immediate P&L impact.
The disposal of Barclays' stake in Entercard to Swedbank at book value (SEK2.6bn) suggests no material gain or loss on disposal is expected at announcement. The release of c.£0.9bn RWAs and an estimated +4bp CET1 benefit are small but positive for capital metrics, improving headroom modestly. The transaction transfers consumer credit exposure in Nordic markets to Swedbank and removes related funding provided by Barclays Bank PLC (c.£1.2bn). Completion remains subject to regulatory and competition approvals, so timing and final capital effects depend on approvals and on any completion adjustments.
TL;DR: Strategic exit of a minority joint-venture stake at book value; tidy de-risking with limited strategic upheaval.
Sale to the existing joint-venture partner at book value is a clean, low-friction route to exit, reducing Barclays’ operational footprint in Nordic consumer lending without indicating write-downs. The buyer is the JV partner, which lowers execution risk, though competition and banking regulator approvals are still required. The announced cash consideration aligned to net assets (SEK2.6bn) and repayment of c.£1.2bn funding simplifies the balance sheet impact. Overall, transaction structure implies a low-risk, non-accretive divestment focused on capital and simplification rather than value realization.
Barclays ha annunciato che la sua controllata Barclays Principal Investments Limited venderà l’intera partecipazione nella joint venture Entercard Group AB al partner di joint venture Swedbank AB (publ). Entercard, fondata nel 2005, offre credito al consumo in Svezia, Norvegia, Danimarca e Finlandia e al 31 marzo 2025 presentava attività totali per SEK36 miliardi, principalmente crediti da carte e prestiti. Swedbank acquisterà la quota di BPIL al valore contabile, equivalente alla metà del patrimonio netto di Entercard e stimata in SEK2,6 miliardi al 31 marzo 2025, pagabili in contanti al completamento. Al closing Entercard rimborsarà finanziamenti per circa £1,2 miliardi attualmente forniti da Barclays Bank PLC. Barclays prevede che la vendita libererà circa £0,9 miliardi di attività ponderate per il rischio, aumentando il suo CET1 di circa 4 punti base sulla base del ratio al 30 giugno 2025. Il completamento è atteso entro la fine del 2025, soggetto a approvazioni regolamentari e antitrust.
Barclays anunció que su filial Barclays Principal Investments Limited venderá toda su participación en la joint venture Entercard Group AB al socio de la joint venture Swedbank AB (publ). Entercard, fundada en 2005, ofrece crédito al consumo en Suecia, Noruega, Dinamarca y Finlandia y contaba con activos totales por SEK36.000 millones al 31 de marzo de 2025, principalmente saldos de tarjetas y préstamos. Swedbank comprará la participación de BPIL al valor contable, equivalente a la mitad del patrimonio neto de Entercard y estimada en SEK2.600 millones al 31 de marzo de 2025, pagaderos en efectivo al cierre. Tras la operación, Entercard reembolsará financiamiento por unos £1.200 millones actualmente provistos por Barclays Bank PLC. Barclays espera que la venta libere aproximadamente £900 millones de activos ponderados por riesgo, elevando su ratio CET1 en alrededor de 4 puntos básicos respecto al ratio del 30 de junio de 2025. La operación se espera cerrar antes de finales de 2025, pendiente de aprobaciones regulatorias y de competencia.
Barclays는 자회사 Barclays Principal Investments Limited가 합작사 Entercard Group AB에 대한 보유 지분 전부를 합작 파트너인 Swedbank AB (publ)에 매각한다고 발표했습니다. 2005년 설립된 Entercard는 스웨덴, 노르웨이, 덴마크, 핀란드에서 소비자 신용을 제공하며, 2025년 3월 31일 기준 총자산은 대부분 카드 및 대출 채권으로 구성된 SEK360억였습니다. Swedbank는 BPIL의 지분을 장부가치로 취득하며, 이는 Entercard 순자산의 절반에 해당하고 2025년 3월 31일 기준 SEK26억으로 추산되며 완료 시 현금으로 지급됩니다. 거래 완료 시 Entercard는 현재 Barclays Bank PLC가 제공 중인 약 £12억의 자금을 상환할 예정입니다. Barclays는 이번 매각으로 약 £9억의 위험가중자산이 해제되어 2025년 6월 30일 기준 CET1 비율을 약 4 베이시스 포인트 높일 것으로 예상합니다. 거래 완료는 규제 및 경쟁 당국 승인 조건에 따라 2025년 연말까지 예상됩니다.
Barclays a annoncé que sa filiale Barclays Principal Investments Limited cédait l’intégralité de sa participation dans la coentreprise Entercard Group AB au partenaire de la joint-venture Swedbank AB (publ). Créée en 2005, Entercard propose du crédit à la consommation en Suède, Norvège, Danemark et Finlande et détenait au 31 mars 2025 des actifs totaux de SEK36 milliards, principalement des créances de cartes et de prêts. Swedbank achètera la participation de BPIL à la valeur comptable, équivalente à la moitié des capitaux propres d’Entercard et estimée à SEK2,6 milliards au 31 mars 2025, payable en espèces à la clôture. À la clôture, Entercard remboursera des financements d’environ £1,2 milliard actuellement fournis par Barclays Bank PLC. Barclays prévoit que la vente libérera environ £0,9 milliard d’actifs pondérés en fonction des risques, augmentant son ratio CET1 d’environ 4 points de base sur la base du ratio au 30 juin 2025. La clôture est attendue d’ici la fin 2025, sous réserve des approbations réglementaires et de la concurrence.
Barclays gab bekannt, dass seine Tochtergesellschaft Barclays Principal Investments Limited ihre gesamte Beteiligung an dem Joint Venture Entercard Group AB an den Joint-Venture-Partner Swedbank AB (publ) verkaufen wird. Entercard, 2005 gegründet, bietet Konsumentenkredite in Schweden, Norwegen, Dänemark und Finnland an und hatte zum 31. März 2025 Gesamtaktiva von SEK36 Milliarden, hauptsächlich Karten- und Kreditforderungen. Swedbank erwirbt den Anteil von BPIL zum Buchwert, entsprechend der Hälfte des Eigenkapitals von Entercard und zum 31. März 2025 auf SEK2,6 Milliarden geschätzt, zahlbar in bar bei Abschluss. Mit Abschluss wird Entercard Finanzierungen von rund £1,2 Milliarden zurückzahlen, die derzeit von Barclays Bank PLC bereitgestellt werden. Barclays rechnet damit, dass der Verkauf rund £0,9 Milliarden risikogewichteter Aktiva freisetzt und seine CET1-Quote um etwa 4 Basispunkte auf Basis der Quote vom 30. Juni 2025 erhöht. Der Abschluss wird bis Ende 2025 erwartet, vorbehaltlich regulatorischer und wettbewerbsrechtlicher Genehmigungen.
FAQ
What is Barclays selling in the Form 6-K filing (BCS)?
How much is the Entercard stake valued at in the announcement?
What capital impact does the transaction have on Barclays (BCS)?
Will Barclays receive cash on completion and are there other balance sheet effects?
When is the transaction expected to close?
