Nordic-Baltic financial group Swedbank has acquired Barclays' stake in credit market specialist Entercard in a deal worth approximately SEK 2.6 billion ($273 million.)

With currently around 450 employees and 1.5 million customers, Stockolm-based Entercard offers credit card and consumer loan products through partnerships in Sweden, Norway, Denmark and Finland.

In the first quarter of 2025, the company's total net assets amounted to approximately SEK 5.2 billion, Swedbank said.

Swedbank stated that the purchase price was based on an amount corresponding to 50 per cent of Entercard's equity at the time of acquisition, amounting to approximately SEK 2.6 billion according to Emercard's net assets as shared by Swedbank.

Swedbank and Barclays have been joint owners of Entercard since 2005.

Following the agreement, Entercard will become a wholly owned subsidiary of Swedbank and will continue to operate under its own brand.

Tomas Hedberg, deputy chief executive of Swedbank, said that this transaction aims to create the largest credit card company in the Nordic and Baltic countries.

"Through this acquisition, Swedbank continues to invest in and develop our business. This creates even greater opportunities to strengthen our customer offering,” Hedberg added.

Jan Haglund, chief executive of Entercard, added that the full integration into Swedbank aims to create new commercial opportunities and strengthen the credit specialist’s activities. 



 

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