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Barclays purchases Italian mortgage business from Macquarie

Barclays Bank PLC ('Barclays') has completed the purchase of the Italian residential mortgage business of Macquarie Bank Limited. The business includes a mortgage portfolio with a total outstanding balance of approximately €1.1 billion. As part of the agreement, Barclays has also acquired Macquarie's operational support functions, including staff.

Frits Seegers, Chief Executive of Barclays retail and commercial banking arm, said: “Our existing Italian mortgage business has grown through the combination of a prudent lending policy and careful management of customer relationships. This acquisition augments that business and will be immediately accretive to earnings.”

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Notes to editors

For further information please contact: Investor Relations Mark Merson +44 (0) 20 7116 5752 John McIvor +44 (0) 20 7116 2929 Media Relations Alistair Smith +44 (0) 20 7116 6132 Phillippa-Jane Vermoter +44 (0) 20 7116 7226 This announcement is for information only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Forward-looking Statements This announcement contains (or may contain) certain forward-looking statements with respect to certain of Barclays plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘will’, ‘would’, ‘could’, ‘aim’, ‘anticipate’, ‘target’, ‘expect’, ‘envisage’, ‘estimate’, ‘intend’, ‘intention’, ‘plan’, ‘goal’, ‘believe’, or other words of similar meaning. Examples of forward-looking statements include, among others, statements regarding Barclays future financial position, income growth, impairment charges, business strategy, projected levels of growth in the banking and financial markets, projected costs, estimates of capital expenditure, plans to raise additional capital without calling on the Government funding specified herein, plans with respect to dividend payments, and plans and objectives for future operations of Barclays and other statements that are not historical fact. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, UK domestic and global economic and business conditions, the effects of continued volatility in credit markets, liquidity conditions in the market, market-related risks such as changes in interest rates and exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards ("IFRS") applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation, the success of future acquisitions and other strategic transactions and the impact of competition, a number of which factors are beyond Barclays control. As a result, Barclays actual future results may differ materially from the plans, goals, and expectations set forth in Barclays forward-looking statements. Any forward-looking statements made herein by or on behalf of Barclays speak only as of the date they are made. Except as required by the FSA, the London Stock Exchange or applicable law, Barclays expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in Barclays expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this announcement should seek appropriate advice before taking any action. Neither the content of Barclays website nor any website accessible by hyperlinks on Barclays website is incorporated in, or forms part of, this announcement.