Swedbank Buys Barclays’ Stake in Entercard
Swedbank has agreed to purchase Barclays’ ownership stake in Nordic credit company Entercard for $275 million, creating one of the largest card businesses across the Nordics and Baltics. Entercard, a leading provider of consumer loans and card products, operates through partnerships in Sweden, Norway, Denmark, and Finland. With SEK 36 billion in assets, about 450 employees, and 1.5 million customers, the firm will continue operating under its established brand.
The deal marks the end of Swedbank and Barclays’ nearly two-decade-long co-ownership, which began in 2005. Tomas Hedberg, deputy CEO of Swedbank, emphasized that the acquisition aligns with the bank’s strategic investment focus and strengthens its ability to serve customers more effectively. Entercard CEO Jan Haglund echoed the sentiment, highlighting that integration into Swedbank offers fresh opportunities for expansion while leveraging the bank’s strong regional position.
Barclays, meanwhile, is advancing its capital-light strategy with this divestiture, following its earlier sale of a payments business to Brookfield Asset Management. The sale is expected to improve Barclays’ Common Equity Tier 1 (CET1) capital ratio by four basis points, further supporting its balance sheet strategy.
For Swedbank, the transaction will reduce its CET1 ratio by roughly 30 basis points, a natural outcome of its “15/27” plan, which prioritizes digital transformation in the Nordic and Baltic regions. Despite this impact, Swedbank views the acquisition as a long-term move to reinforce its footprint in consumer finance, combining digital innovation with a broader product offering across its markets.
