UK's Barclays gains on German consumer finance business sale

BAWAG AG

04/07/2024 08:07

** Shares of Barclays Plc  BARC.L  rise 1.3% to 221p
    ** Stock among top pct gainers on FTSE 100  .FTSE  index
    ** British lender to sell its German consumer finance
business to Austria's BAWAG Group  BAWG.VI  for a "small premium
to net assets" payable in cash
    ** BARC expects sale to release about 4 bln euros ($4.32
bln) of risk-weighted assets, increasing the bank's CET1 ratio
by about 10 bps on completion
    ** Stock up ~40% YTD as of last close
 
 ($1 = 0.9269 euros)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))