Barclays Step towards Adding Clients



Barclays Step towards Adding Clients

Barclays Step towards Adding Clients

Barclays the British bank told on Tuesday that it has agreed to acquire the business card credit online bank Egg UK, a subsidiary of U.S. banking giant Citigroup for an undisclosed sum. (Foster 2010, 11)

Through this transaction a portfolio of 1.15 million customers and about 2.3 billion pounds of gross receivables will be acquired. (Ackril 2001, 25)

This deal is complete and implemented in the first half of 2011. This acquisition will strengthen the credit card subsidiary of Barclays and the best thing is that this transaction won't ...