Barclays sells Entercard stake to Swedbank

(Sharecast News) - Barclays said it had sold its shareholding in Entercard Group to its joint venture partner, Swedbank at book value - estimated to be 2.6 billion Swedish crowns. Entercard was established as a joint venture in 2005, providing consumer credit to customers across Sweden, Norway, Denmark and Finland.

The sale is expected to release around £0.9bn of risk weighted assets, increasing Barclays' common tier equity ratio by around four basis points. The deal is expected to complete by year-end 2025, after buyer regulatory and competition approvals, the bank said in a statement.

Reporting by Frank Prenesti for Sharecast.com