Barclays and Blackstone announce strategic agreement to sell $1.1bn in credit card receivables
Barclays PLC ("Barclays") and Blackstone Credit & Insurance ("Blackstone") have announced today that Barclays Bank Delaware ("BBDE") has agreed to sell around US$1.1bn of existing credit card receivables as part of a defined set of Barclays-branded credit card accounts in the United States of America (the "Accounts"). This strategic move marks the beginning of a series of initiatives by Barclays to reduce its risk-weighted assets (RWAs) and enhance lending capacity for BBDE.
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Posted on Feb 27, 2024 Region: USA
accounts receivables finance Barclays, Blackstone, credit card receivables, Anna Cross, Denny Nealon, Robert Horn
