Barclays Said to Ready Sale of German Consumer Finance Business
- Bank has held early talks about Barclaycard unit in country
- Division had a loan book of £4.3 billion at the end of 2022
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Barclays Plc is preparing the sale of its consumer-finance business in Germany and has held preliminary talks with potential buyers, according to people familiar with the matter.
The British bank may seek about 500 million euros ($557 million) for the unit, formerly known as Barclaycard Germany, the people said, asking not to be named as the discussions aren’t public. The division, based in Hamburg, houses 700 employees and could attract interest from other banks and private equity funds that own a bank, they said.