Arrivederci: Barclays ditches more of its Italian non-core assets

The portfolio, which has a book value of roughly €177m (£152.7m) of gross receivables, will reduce non-core risk weighted assets by around £78m.The sale is expected to complete in the second quarter of 2017.Read more: Barclays is preparing to move its EU headquarters to Dublin”Barclays Non-Core looks remarkably different today than it did a year ago – in that time we have completed the sale of a number of businesses, including our Portuguese and Italian retail banks, our southern European cards business, our Asian Wealth business and our index and risk analytics business, as well as reducing and simplifying our legacy derivatives and loans books,” commented Harry Harrison, head of Barclays Non-Core. “We look to continue this success in 2017.”Although the bank will keep its feet in Italy through its corporate and investment banking business, Barclays completed the sale of its Italian retail network to CheBanca! last August. While the bank’s Italain residual mortgage portfolio and other non-core retail and wealth loans are still part of Barclays Non-Core, it intends to run them down or exit them in due course. More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKansas coach fired for using N-word toward Black playerthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes Share Barclays today announced it has agreed to sell of more of its non-core assets in Italy.The banking giant revealed it would be selling a portfolio of non-core performing and non-performing small business and corporate loans to AnaCap Financial Partners, but did not disclose a sale price. Hayley Kirton Read more: Small business owner with an hour to spare? Here’s something you can doThe bank’s non-core division continues to weigh heavy on its results. In Barclays’ financial figures for the first nine months of 2016, profits before tax in the core business rose four per cent to £4.9bn, while losses in non-core plummeted 33 per cent to just shy of £2bn.Shares in Barclays are trading up trading up 0.1 per cent at 227.55p at time of writing. Arrivederci: Barclays ditches more of its Italian non-core assets Tuesday 7 February 2017 12:24 pm whatsapp whatsapp

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