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Barclays signs deal to sell UK trust biz to further reduce non-core portfolio

BarclaysPlc agreed to sell its U.K. trust business to ZEDRA as Barclays nolonger deems the business central to its strategy.

Following the completion of the transaction, which issubject to regulatory approval, Barclays U.K. Trust's clients will becomeZEDRA's clients.

Terms of the sale were not disclosed. The sale is expectedto have a minimal impact on the bank's reported financials, Barclays said.

Recently, Barclays Bank agreed to sell its retail andcorporate banking business in Egypt, also as part of its strategy to focus on corebusinesses.

ZEDRA is an independent specialist in trust, corporate andfund services, with offices in 10 jurisdictions. Barclays already holds aminority stake inZEDRA.