StockMarketWire.com - Banking group Barclays entered into an agreement with Synchrony Bank to acquire a portfolio of U.S. co-branded and private label credit card accounts and receivables issued in partnership with The Gap.

The total portfolio consisted of approximately $3.8 billion of average receivables as at June 2021, with completion of the acquisition expected in Q2 2022.

Barclays Bank will issue co-branded and private label credit cards in the US to Gap customers beginning in Q2 2022.



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