Barclays to sell retail banking business in Italy

Moscow. December 3. British Bank Barclays agreed to sell 89 of the retail divisions in Italy CheBanca!, which is the Italian banking group Mediobanca Banca di Credito Finanziario SpA.

The impact of the transaction on the financial performance Barclays will depend on the balance at the time of completion of the transaction, as well as changes in exchange rates, according to a press release from the Bank.

Barclays expects that the sale of Italian retail network will enable it to reduce the volume of risk-weighted assets by about 800 million pounds ($1.2 billion), according to MarketWatch.

While the British Bank intends to keep the investment banking and corporate banking in Italy.