Swedbank to acquire remaining 50% stake in EnterCard Group AB from Barclays for an undisclosed amount.

Swedbank AB has agreed to acquire the remaining 50% stake in EnterCard Group AB from Barclays Principal Investments Limited for an undisclosed cash consideration. The acquisition is expected to complete by year-end 2025, subject to regulatory approvals. Upon completion, Swedbank AB will own 100% of EnterCard Group AB, which will continue to operate under its own brand. As of March 31, 2025, EnterCard Group AB reported total assets of SEK 36 billion and total common equity of SEK 5.2 billion.

Swedbank AB has agreed to acquire the remaining 50% stake in EnterCard Group AB from Barclays Principal Investments Limited (BPIL) for an undisclosed cash consideration. The acquisition is expected to complete by year-end 2025, subject to regulatory approvals. Upon completion, Swedbank AB will own 100% of EnterCard Group AB, which will continue to operate under its own brand [1].

As of March 31, 2025, EnterCard Group AB reported total assets of SEK 36 billion and total common equity of SEK 5.2 billion. Entercard was established as a joint venture in 2005 and provides consumer credit to customers across Sweden, Norway, Denmark, and Finland. The acquisition is part of Swedbank's strategic expansion in the consumer credit sector [2].

The transaction will see Swedbank AB pay a cash consideration towards the common equity of EnterCard Group AB. Upon completion, Entercard will repay the funding, in an amount equivalent to c.£1.2 billion, currently provided by Barclays Bank PLC to Entercard. The sale is expected to release c.£0.9 billion of risk-weighted assets (RWAs), increasing Barclays’ Common Equity Tier 1 (CET1) ratio by c.4 basis points (bps) on completion [2].

The acquisition is a significant step for Swedbank AB, strengthening its position in the consumer credit market. EnterCard Group AB's strong asset base and established brand in the Nordic region make it an attractive acquisition target. The transaction is expected to be completed by year-end 2025, following the receipt of relevant buyer regulatory and competition approvals.

References:
[1] https://www.marketscreener.com/news/swedbank-ab-om-swed-a-entered-into-an-agreement-to-acquire-remaining-50-stake-in-entercard-group-ce7c50dcd989f725
[2] https://www.directorstalkinterviews.com/barclays-to-sell-entercard-stake-to-swedbank/4121213826