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Sunday, May 25, 2014

Barclays Spain to be sidelined into “bad bank”

Barclays Bank has announced that it is sidelining its banking businesses in Spain, France, Italy and Portugal into a new “bad bank” as part of an international restructuring exercise. Spanish customers of the new financial entity will then be sold on to a purchasing bank, expected at this point to be Bankinter, and will be in the same position as many other banking clients who have found their original bank absorbed into another, as in the case, for example, of Caja Canarias and La Caixa, or Banesto and Santander.

Barclays Spain to be sidelined into “bad bank”

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