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Barclays may sell vendor finance business

Barclays is considering selling off its leasing (or vendor finance) division which is thought to have assets valued at between GBP1 billion and GBP1.2 billion, according to reports in the media.

Barclays has been reviewing its underperforming UK banking operations that deal with both retail and small business customers. The bank is now thought to be prepared to sell off its vendor finance business, which is part of the asset finance division and provides loans to small businesses to purchase equipment.

The Financial Times speculated that the business would attract interest from US and European companies in the leasing industry such as General Electric and Siemens.