Barclays Bank PLC 6-K, filed Jul 5, 2024
Barclays Bank PLC (ATMP)
6-K
2024-07-05
For: 2024-07-05
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Added on
April 06, 2026
About this 6-K
Barclays Bank PLC filed this 6-K on July 5, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
July
04, 2024
Barclays PLC
(Name
of Registrant)
1 Churchill Place
London E14 5HP
England
(Address
of Principal Executive Office)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover of Form 20-F or Form 40-F.
Form
20-F x Form 40-F
This
Report on Form 6-K is filed by Barclays PLC.
This
Report comprises:
Information
given to The London Stock Exchange and furnished pursuant
to
General
Instruction B to the General Instructions to Form 6-K.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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BARCLAYS
PLC
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(Registrant)
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Date:
July 04, 2024
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By: /s/
Garth Wright
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Garth
Wright
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Assistant
Secretary
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Exhibit
No. 1
4 July 2024
Barclays PLC
DISPOSAL OF GERMAN CONSUMER FINANCE BUSINESS
Barclays PLC ("Barclays") today announces that Barclays Bank
Ireland PLC ("Barclays Europe") has agreed the sale of certain
assets and liabilities, which together comprise its German consumer
finance business ("Consumer Bank Europe") to BAWAG P.S.K., a
wholly-owned subsidiary of BAWAG Group AG ("BAWAG"). This is
another example of disciplined execution against the plan presented
at our Investor Update on 20 February 2024.
Consumer Bank Europe is a diversified retail banking business, with
established credit card, consumer loan and deposit franchises
serving customers in the German and Austrian markets. As at 31
March 2024, Consumer Bank Europe had gross assets of €4.7bn,
primarily comprising card and loan receivables.
BAWAG P.S.K. will acquire Consumer Bank Europe for a small premium
to net assets, payable in cash on completion. The sale is expected
to release c.€4.0bn of RWAs, increasing Barclays' CET1 ratio
by c.10bps on completion. Completion of the sale, which is subject
to certain conditions, including regulatory approvals and the
sanction of the relevant courts, is expected to occur within six to
nine months. The timing of completion does not
impact Barclays' previously announced capital return
plans.
Francesco Ceccato, CEO, Barclays Europe said: "The sale of Consumer
Bank Europe aligns with our ambition to simplify Barclays. In
BAWAG, we believe we have found a strong and committed owner for
the business' journey forwards. This transaction will also allow
Barclays Europe to focus on its Corporate and Investment Banking
and Private Banking businesses. We remain committed to our broader
German and European operations and look forward to continued growth
in the region during 2024 and beyond."
- Ends -
For further information, please contact:
Investor Relations Media
Relations
Marina
Shchukina
Tom Sullivan
+44
(0) 7385 142
673
+44 (0) 7796 706 678
About Barclays
Our vision is to be the UK-centred leader in global finance.
We are a diversified bank with comprehensive UK consumer, corporate
and wealth and private banking franchises, a leading investment
bank and a strong, specialist US consumer bank. Through these
five divisions, we are working together for a better financial
future for our customers, clients and communities.
For further information about Barclays, please visit our website
home.barclays
Forward-looking statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the US Securities Exchange Act of 1934,
as amended, and Section 27A of the US Securities Act of 1933, as
amended, with respect to the Barclays Group. Barclays cautions
readers that no forward-looking statement is a guarantee of future
performance and that actual results or other financial condition or
performance measures could differ materially from those contained
in the forward-looking statements. Forward-looking statements can
be identified by the fact that they do not relate only to
historical or current facts. Forward-looking statements sometimes
use words such as 'may', 'will', 'seek', 'continue', 'aim',
'anticipate', 'target', 'projected', 'expect', 'estimate',
'intend', 'plan', 'goal', 'believe', 'achieve' or other words of
similar meaning. Forward-looking statements are based on the
current beliefs and expectations of Barclays' directors,
officers and employees and are subject to significant risks
and uncertainties. Actual outcomes may differ materially from those
expressed in the forward-looking statements. Factors that could
impact the Barclays Group's future financial condition and
performance are identified in Barclays PLC's filings with the US
Securities and Exchange Commission ("SEC") (including, without
limitation, Barclays PLC's Annual Report on Form 20-F for the
fiscal year ended 31 December 2023), which are available on the
SEC's website at www.sec.gov.
Subject to Barclays' obligations under the applicable laws and
regulations of any relevant jurisdiction (including, without
limitation, the UK and the US), in relation to disclosure and
ongoing information, Barclays undertakes no obligation to update
publicly or revise any forward-looking statements, whether as a
result of new information, future events or
otherwise.