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Barclays agrees sale of Portugal and Spain Barclaycard payments unit

Reuters - UK Focus

LONDON, April 28 (Reuters) - Barclays (LSE: BARC.L - news) said on Thursday it has agreed to sell its Barclaycard consumer payments business in Portugal and Spain to Bancopopular-e, a Spanish online bank part-owned by Banco Popular Espanol.

Barclays said the business has assets worth 1 billion pounds ($1.46 billion), and the deal would result in a reduction in its risk weighted assets of 0.9 billion pounds.

The deal comes as new Barclays Chief Executive Jes Staley continues to dispose of unwanted assets in a bid to shrink the bank and increase profitability. ($1 = 0.6857 pounds) (Reporting By Lawrence White; Editing by Susan Fenton)