BAWAG to acquire the German consumer finance business of Barclays.

BAWAG, an Austrian bank, agreed to acquire the German consumer finance business of Barclays, a British universal bank. Financial terms were not disclosed. “We are excited about the acquisition of Barclays’ German consumer lending business and the many opportunities this presents for the Group. This is a great strategic fit in terms of product offering, market presence, customer base, and team members with deep credit card expertise based in Hamburg. This acquisition provides us with a German consumer lending platform focused on credit cards, personal loans, and savings products across a large and diverse customer base. We look forward to welcoming the whole team and building on the strong foundation that has been established. This is the second acquisition we have signed in 2024, planting the seeds for continued profitable growth in the years ahead“, Anas Abuzaakouk, BAWAG Group CEO.