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    Barclays Europe to sell German consumer finance business to BAWAG

    By DPA,

    16 days ago

    https://img.particlenews.com/image.php?url=1HphXJ_0uEOzbup00

    Barclays Bank Ireland has agreed the sale of its German consumer finance business to BAWAG, a wholly-owned subsidiary of Austria's BAWAG Group, the London-based banking conglomerate announced on Thursday.

    BAWAG P.S.K. will acquire Consumer Bank Europe for a small premium to net assets, payable in cash on completion, Barclays announced.

    Barclays expects the sale to release approximately €4 billion of risk-weighted assets.

    The company said the timing of completion does not impact Barclays' previously announced capital return plans.

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