British bank Barclays (LON:BARC) said Monday it has struck a deal to buy the home loans and savings business of insurer Standard Life (LON:SL) for GBP226m (USD369m/EUR245m) in cash, payable upon completion.
Commenting on the acquisition, Barclays Global Retail and Commercial Banking CEO Frits Seegers noted that Standard Life Bank "is a good fit with Barclays existing UK retail banking business".
The Remainder of this Article is Available To Insider Subscribers Only
Not an INN Insider?
Sign up now and get the latest insurance news and insight from over 12,000 sources all for only
$74.95 per year!
Insider benefits include:
Full access to INN content and all sections, including technology and regulation.
100s of additional articles, not published on our public site
Email newswire service, allowing you to customize the frequency and topics you receive.
