LONDON – Barclays Bank Ireland has reached an agreement to sell its German consumer finance business to BAWAG Group AG’s subsidiary, BAWAG P.S.K. The deal includes the transfer of assets and liabilities of Consumer Bank Europe for a small premium in cash, which is expected to release 4.0 billion euros of Risk-Weighted Assets (RWAs) and boost Barclays’ Common Equity Tier 1 (CET1) ratio by approximately 10 basis points. The completion of the transaction will not affect Barclays’ capital return plans.
Barclays Bank Ireland Sells German Consumer Finance Business to BAWAG, Boosting CET1 Ratio, Germany
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