Barclays continues to streamline with sale of another division
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Barclays has announced the latest step in its strategy to reduce its non-core business in order to focus on its UK and US banking operations with the sale of its risk analytics and index unit to Bloomberg in a £615 million deal.
The banking giant said it would make a pre-tax gain of about £535 million once the sale of Barclays Risk Analytics and Index Solutions (BRAIS) was complete.
The overhaul has seen the lender sell its Barclaycard credit card operations in Spain and Portugal to Bancopopular-e and sell down its 62.3% stake in Barclays Africa.
Other assets sold have included the bank’s Barclaycard credit card operations in Spain and Portugal to Bancopopular-e and it is selling down its 62.3 per cent stake in Barclays Africa.
The unit sold to Bloomberg includes Barclays’ fixed income benchmark indices and its aggregate family of indices.
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