Barclays : announces further sale of Italian Non-Core assets

Barclays Bank PLC ('Barclays') has today agreed the sale of a portfolio of salary secured loans in Italy to IBL Banca S.p.A.

The portfolio forms part of Barclays Non-Core and comprises c. £260m of gross receivables. The sale will reduce Non-Core Risk Weighted Assets by a further c. £170m and will be broadly neutral to Barclays' CET1 ratio on completion.

Harry Harrison, Head of Barclays Non-Core, commented: 'Last week we announced agreements to sell our Egyptian bank and our UK Trust business. Today's announcement further highlights the momentum we have in Barclays Non-Core and the progress we're making.'

Completion, which is subject to regulatory approvals, is expected to occur in the first quarter of 2017.

Barclays completed the sale of its Italian retail banking network in August 2016, and continues to operate investment banking and corporate banking in Italy. Barclays' residual mortgage portfolio and other Non-Core retail, wealth and corporate loans in Italy will remain part of Barclays Non-Core, with the intention to exit or rundown over time.

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .