Barclays Bank has completed the sale of its Spanish subsidiary, Barclays Bank S.A.. The division principally comprises retail banking, wealth and investment management and corporate banking in Spain. It has been sold to CaixaBank and the completion of the sale, which was initially announced last August, follows receipt of regulatory and other applicable approvals. The completion will be reflected in Barclays’ results for the first quarter of this year. Barclays’ Investment Bank and Barclaycard operations in Spain are not part of the sale and the company says it remains committed to these businesses.
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