Barclays Sells German Consumer Finance Arm

Barclays ETN+ Select MLP ETN (ATMP) has released an update.

Barclays PLC has announced the sale of its German consumer finance business, Consumer Bank Europe, to BAWAG P.S.K., which is expected to enhance Barclays’ CET1 ratio by approximately 10 basis points upon completion. The disposal is part of Barclays’ strategy to simplify operations and will allow the company to concentrate on its Corporate, Investment Banking, and Private Banking sectors. The completion of the sale is anticipated within six to nine months, subject to regulatory approvals and is not expected to affect Barclays’ capital return plans for the year.

For further insights into ATMP stock, check out TipRanks’ Stock Analysis page.