Barclays sells italian retail banking to Mediobanca

Barclays completed the sale of the Italian retail branches to CheBanca !, controlled by Mediobanca. With this, CheBanca! double in size and exceeds the 20 billion in total deposits, taking a further step in the development process and in strengthening the asset management of the Italian families; thanks to the acquisition, it's realized significant increase in the number of customers (+ 38% to 800 thousand), assets under management (+ 74% to € 6.8 billion), direct deposits (+ 27% to € 13.6 billion) and mortgage loans (+ 50% to € 7.5 billion).

"The finalization of this agreement can only make me happy because it is the answer that the Italian branch has given to the Group' the possibility to focus on core business", adds Alessandra Perrazzelli, Barclays Country Manager Italy, stating that" in our country, Barclays continue to operate in Investment and Corporate Banking, business through which we will continue to serve our customers, leveraging the group doing well. "