New Delhi, India, 29 August – Barclays has agreed to sell its 50% ownership in Entercard Group to Swedbank for $273 million, continuing its global plan to streamline business operations. Specifically, this deal represents another step in Barclays’ initiative to simplify its worldwide activities. Consequently, Swedbank will acquire Barclays’ half stake in Entercard, a Nordic provider of consumer credit services. The transaction values Entercard at 5.2 billion Swedish crowns, according to March 2025 equity data. Additionally, Swedbank will complete the purchase fully in cash, thereby gaining full ownership of Entercard.
Entercard currently caters to 1.5 million customers in Sweden, Norway, Denmark, and Finland. Furthermore, it offers credit cards and consumer loans via local partnerships. The company employs about 450 people and will continue to operate under its own brand name. Barclays announced that this sale will free up £900 million in risk-weighted assets. Moreover, the deal will increase its common equity Tier 1 ratio by four basis points. The sale is expected to finalize by the end of 2025, subject to regulatory approval.
Swedbank’s Deputy CEO Tomas Hedberg described the acquisition as a strategic milestone. “We are building the largest card business in the Nordics and Baltics,” he stated. He added that the transaction will enhance Swedbank’s regional presence and improve its customer services. Meanwhile, Entercard CEO Jan Haglund expressed optimism about the change, highlighting new business prospects and the company’s 20-year growth aligned with Swedbank’s long-term plans.
Barclays has progressively withdrawn from non-core businesses to concentrate on its banking operations in the UK and the US. For example, in April, Barclays sold most of its UK payments business to Brookfield Asset Management. CEO C.S. Venkatakrishnan has stressed balance sheet resilience and portfolio simplification. Hence, the Entercard divestment fits Barclays’ wider strategy to reduce overseas retail banking exposure. Analysts see this move as a shift toward high-margin, scalable ventures. Also, Barclays has reduced its footprint in Asia and Europe over recent years.
Swedbank expects this acquisition to affect its capital ratios. Specifically, the bank forecasts a 30 basis point decline in its CET1 ratio post-deal. However, management believes that the long-term benefits will outweigh this short-term capital impact. This purchase also aligns with Swedbank’s 15/27 plan, which focuses on regional consolidation and digital innovation. Therefore, Entercard’s integration should boost Swedbank’s fintech development and consumer lending capabilities.
Swedbank continues to expand its reach across the Nordics and Baltics, currently serving more than 7 million retail customers and 550,000 corporate clients across Sweden, Estonia, Latvia, and Lithuania. The bank also operates in the US and China. Industry observers regard the acquisition as a bold move in a competitive credit landscape. Nordic banks face pressure from digital challengers and shifting consumer demands. Thus, Swedbank’s full ownership of Entercard will enhance its ability to respond swiftly to market changes.
The deal also demonstrates confidence in the region’s consumer finance market. Despite economic challenges, credit demand remains robust. Entercard’s established brand and customer base offer a strong foundation for Swedbank’s growth. Meanwhile, Barclays maintains its focus on core banking and investment services. The bank has reported consistent earnings and improved capital ratios recently. Consequently, the Entercard exit will likely strengthen Barclays’ financial flexibility.
Both institutions confirmed that Entercard will retain its leadership and operational autonomy. Customers will, therefore, experience no immediate service or branding changes. Integration will focus on backend systems and strategic alignment. Regulatory approval from Sweden and the UK remains pending. Swedbank anticipates a smooth process, citing its long-standing collaboration with Barclays.
As the transaction proceeds, industry watchers will observe its effect on regional competition and lending patterns. This acquisition might lead to further consolidation within the Nordic credit sector. Barclays and Swedbank have jointly owned Entercard since 2005, helping build one of Scandinavia’s leading credit firms. With this sale, both banks turn a new chapter in their strategic journeys.
Ultimately, this deal highlights a broader banking trend toward focusing on core capabilities. As financial institutions navigate digital disruption and regulatory shifts, strategic divestitures are increasingly prevalent. Therefore, Barclays’ sale of Entercard to Swedbank goes beyond a simple transaction—it signals evolving priorities, market dynamics, and long-term value creation.
