Barclays (BCS) to Sell US Credit Card Accounts to Blackstone

Barclays (BCS) has announced the sale of approximately $1.1 billion in credit card receivables to Blackstone’s (BX) Credit & Insurance segment. The transaction is still subject to certain conditions and is anticipated to be funded in the first quarter of 2024.This agreement, marking the first step in Barclays' plan to optimize its risk-weighted assets (RWAs), aims to bolster lending capacity for Barclays Bank Delaware (“BBDE”) in the United States. The company also seeks to streamline its balance sheet, red ...