Swedbank acquires Entercard, strengthens Nordic and Baltic card business

Swedbank has reached an agreement to acquire Barclays' ownership stake in Entercard, making Entercard a wholly owned subsidiary. This strategic move aims to create the largest card business in the Nordics and Baltics, enhancing Swedbank's customer offering by integrating Entercard's established card products and consumer loans across Sweden, Norway, Denmark, and Finland.

Entercard, which has been co-owned by Swedbank and Barclays since 2005, boasts approximately 450 employees and 1.5 million customers, and will continue to operate under its existing brand. The acquisition's purchase price is based on 50 percent of Entercard's equity, with the company's total equity standing at approximately SEK 5.2 bn in the first quarter of 2025.

The transaction is expected to reduce Swedbank's Common Equity Tier 1 capital ratio by approximately 30 basis points and is aligned with Swedbank's 15/27 business plan, pending approval from relevant authorities. This acquisition reinforces Swedbank's commitment to strengthening its operations and offering in key regional markets.