Barclays PLC Sponsored ADR Aktie News

Visa and United Kingdom-based bank Barclays expanded their six-decade partnership. The new agreement spans issuing and acquiring across Barclays' retail, corporate, business, United States and private bank businesses, according to a Wednesday (Oct. 29) press release.

It has been a while since Barclays PLC's (LSE:BARC) American consumer business offered much to get excited about. But in the space of a week, the bank has changed the tone.

Barclays has agreed to buy U.S. fintech Best Egg for $800 million in a deal that gives the bank a ready-made digital platform for personal loans and a pipeline of assets it can package and sell to investors

Barclays' consumer banking unit in the United States is set to acquire personal loan platform Best Egg. The $800 million deal between Barclays U.S. Consumer Bank (USCB) and the startup is set to be completed next year in the second quarter, according to a Tuesday (Oct. 28) press release.

Adding new buyback capacity is great, but it doesn't always mean that the pace of a company's buyback spending will increase. This latter action is particularly relevant, as it means a firm is increasing the speed at which it is delivering buyback benefits.

Barclays PLC's (LSE:BARC) latest deal in America looks less like a retreat and more like a reassertion of intent. The bank is buying Best Egg, a US personal loan originator, for $800 million, a move UBS believes sends a clear message that management want to grow the US consumer franchise rather than shrink it.

The bet on U.S. consumer finance forms part of CEO C.S. Venkatakrishnan's bid to boost the British bank's stock.

Barclays will buy U.S. personal loan originator Best Egg