Barclays bank in Spain closing?
Posted:
Sun Jun 22, 2014 5:36 pmby Spainjayne
I have been told that Barclays Bank in Spain will be shutting its doors and anyone who is with them ( Quesada branch) will have to be looking for a new place to bank with !
Has anyone else heard about this ?
Re: Barclays bank in Spain closing?
Posted:
Mon Jun 23, 2014 5:00 amby Glyn
Barclay's have scaled back their operations and are shutting up shop in Spain.
http://www.thespainreport.com/6377/barc ... bs-danger/
Re: Barclays bank in Spain closing?
Posted:
Mon Jun 23, 2014 7:05 amby scubydoo
Also
http://www.bloomberg.com/news/2014-05-2 ... ridge.html Nothing will happen immediately so don't panic but looks like the writing is on the wall!!
Re: Barclays bank in Spain closing?
Posted:
Tue Sep 02, 2014 12:05 pmby scubydoo
Barclays Sold to Caixa the deal has been done and should not affect day to day banking see statement below:
Barclays Bank has agreed to sell part of its Spanish business for £633m to the country's third largest lender CaixaBank.
The sale includes Barclays' retail, wealth management and corporate banking business in Spain.
In a statement, Caixa said the deal involved 270 branches and approximately 555,000 new clients.
Barclays is reorganising its business by cutting jobs and selling off parts of its European operations.
In May, it announced plans to cut 19,000 jobs by 2016, of which 9,000 will be in the UK, as well as to create a "bad bank", which included its retail banking operations in Spain, Portugal, Italy and France.
The idea behind the "bad bank" was to group together businesses no longer considered central to Barclays, with a view to selling them off or listing them on the stock market.
"We were clear [in our update in May] that this business, while not central to Barclays' strategy, could be attractive to another owner - and today's announcement reflects that perspective," said Antony Jenkins, chief executive of Barclays.
"Under the ownership of CaixaBank, a leader in retail banking in Spain, these businesses will have a greater opportunity to grow and thrive," he continued.
The deal does not include Barclays' Spanish credit card operations or its investment banking business.
"This acquisition will enable us to enhance our personal and private banking businesses in Spain, strengthening our counselling offer to our customers," said the chief executive of CaixaBank Gonzalo Gortazar.