The Barclays statement said that the Barclaycard business had been part of the Barclays ‘non-core’ area in March this year since it was no longer aligned with Barclays’ strategy of focussing on large-scale businesses in key future territories.


The business has about £1 billion (€1.286 billion) in assets and it is being sold with a small premium on its book value.
The customers and workers are being transferred to Bancopopular-e.


The statement said that the transaction will not have any impact on the corporate or investment banking segments in Portugal or Spain, “which remain important assets within the Barclays group”.


“I am extremely happy with the speed at which we continue to reduce our exposure to ‘non-core’ and costs. Our credit card operation in Portugal and Spain is an excellent business, with a very talented and dedicated team, but which does not adapt to our strategic ambition. I am sure they will continue to prosper as part of the Bancopopular-e business”, Barclay’s CEO Jes Staley added.