Barclays PLC has agreed to sell its entire stake in its Nordic consumer credit joint venture, Entercard Group AB, to its partner Swedbank AB.
The British bank said on Thursday that Swedbank will acquire the shareholding for its book value, estimated to be 2.6 billion Swedish Kronor, payable in cash.
The sale is expected to release approximately 0.9 billion British pounds of risk-weighted assets, increasing Barclays' Common Equity Tier 1 ratio, a key measure of financial strength, by about 4 basis points upon completion, the company said.
Entercard, established as a joint venture in 2005, provides consumer credit to customers in Sweden, Norway, Denmark, and Finland.
As of March 31, 2025, the business had total assets of 36 billion Swedish Kronor, according to the announcement.
Upon completion, Entercard will also repay funding of about 1.2 billion British pounds currently provided by Barclays.
The transaction is expected to be finalized by the end of 2025, subject to regulatory and competition approvals.
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