Swedbank Moves to Full Ownership of Entercard with Barclays Stake Acquisition
Stockholm, August 30, 2025
Swedbank has announced an agreement to purchase Barclays’ ownership stake in Entercard, making the credit market company a wholly owned subsidiary of Swedbank.
The acquisition marks the creation of one of the largest card businesses across the Nordic and Baltic regions. “Today we are forming the largest card business in the Nordics and Baltics. Through this acquisition, Swedbank continues to invest in and develop our business. This creates even greater opportunities to strengthen our customer offering,” said Tomas Hedberg, Deputy CEO of Swedbank.
Founded as a joint venture between Swedbank and Barclays in 2005, Entercard has established itself as a leading player in consumer finance. The company currently employs about 450 people and serves 1.5 million customers in Sweden, Norway, Denmark, and Finland. Despite the change in ownership, Entercard will continue to operate under its existing brand.
Jan Haglund, CEO of Entercard, emphasized the strategic value of the deal: “For 20 years, Entercard has been on a strong growth journey. Becoming a full part of Swedbank, the leading financial group in Sweden and the Baltics, creates new business opportunities to further strengthen our operations.”
The purchase price is linked to 50 percent of Entercard’s equity at the time of the transaction. In the first quarter of 2025, Entercard’s total equity stood at approximately SEK 5.2 billion.
Swedbank stated that the deal is expected to reduce its Common Equity Tier 1 (CET1) capital ratio by roughly 30 basis points once finalized. The move is consistent with the bank’s 15/27 business strategy plan.
The acquisition remains subject to approval by relevant regulatory authorities before completion.
Venkat