Barclays to Acquire Leading U.S. Personal Loan Originator Best Egg

WILMINGTON, Del., Oct. 28, 2025 /PRNewswire/ -- Barclays PLC ("Barclays")¹ today announces that its wholly-owned US consumer banking subsidiary Barclays Bank Delaware (operating as "Barclays US Consumer Bank" or "USCB") has agreed to acquire Best Egg, Inc. ("Best Egg" or the "Business")² for $800 million³ (the "Transaction"). Completion of the Transaction ("Completion") is subject to required regulatory approvals and other conditions.

Best Egg is a leading US direct-to-consumer personal loan origination platform with a focus on prime borrowers and an established track record of risk management. The Business has consistently grown since its establishment in 2013 and has facilitated over $40 billion in personal loans to more than two million customers.

In 2025, Best Egg is expected to facilitate more than $7 billion in personal loan originations via its platform. The loans are funded through structures including securitization programs and forward flow arrangements provided by a range of alternative asset managers, with the Business generating largely fee-based capital-light income as a result of its loan origination and servicing activities. The Business currently services approximately $11 billion in personal loans. Following Completion, Barclays expects to continue this model and retain a small portion of Best Egg's new lending flow on its balance sheet.

Best Egg complements USCB's established partnership-driven credit card business, which provides unsecured personal lending to customers through a number of existing co-brand card partner programs. The Transaction strengthens USCB's franchise by acquiring digital and risk capabilities in this attractive part of the US consumer finance market and providing significant flexibility in the efficient deployment of lending capacity and capital.

The consideration paid for Best Egg represents a high-single digit Price/Earnings multiple⁴. The acquisition, including the realization of synergies, is expected to generate an attractive return on investment for Barclays, comparable to our three highest-returning UK businesses, over time. It is expected to be accretive to USCB's Return on Tangible Equity ("RoTE") in 2027, supporting delivery of its stated mid-teens RoTE target post 2026. It is also expected to be accretive to Barclays' RoTE and Earnings Per Share in 2027.

The Best Egg acquisition is expected to complete in Q2 2026, after completion of the previously-announced sale of Barclays' American Airlines co-brand credit card receivables. The net effect of both transactions is estimated to be an approximate 6bp increase in the Group's CET1 ratio in Q2 2026. The Best Egg acquisition is expected to consume approximately 16bps of Group CET1 capital upon Completion. The Transaction will not affect Barclays' stated total distribution target of at least £10 billion between 2024 and 2026⁵.

Further information can be found on the Barclays Investor Relations website.

C.S. Venkatakrishnan, Group Chief Executive of Barclays, commented:

"The deep and sophisticated US consumer finance market offers rich prospects for growth at Barclays. The Transaction will strengthen our US Consumer Bank and offers an exciting opportunity to significantly bolster our capabilities in personal lending." 

Denny Nealon, Chief Executive of Barclays US Consumer Bank, commented:

"This acquisition represents a significant step forward in our strategy to grow and diversify our US consumer banking business. As a leader in the personal loans market, Best Egg gives us the ability to reach more US consumers through a proven platform that has been successful for over a decade. We look forward to welcoming Best Egg's customers as well as its talented and experienced management team and colleagues upon closing in 2026."

Paul Ricci, Chief Executive Officer of Best Egg, added:

"At Best Egg, we are driven by a mission to empower people with financial confidence and flexibility through our suite of lending products and financial health tools. Joining forces with Barclays marks a pivotal moment in our journey – one that amplifies our ability to reach even more people through innovative lending solutions that truly make a difference. This transaction is a testament to the strength of the incredible business we've built over the past 12 years, our talented team, and the trust we've earned from our customers. Together with Barclays, we're excited to accelerate our growth and continue shaping the future of consumer finance in ways that are both meaningful and impactful."

Notes:

1. The terms Barclays and Group refer to Barclays PLC together with its subsidiaries.
2. Best Egg, like USCB, is headquartered in Wilmington, Delaware and currently employs approximately 500 employees.
3. Based on tangible net assets of $275 million. The actual consideration payable at Completion will depend on movements in Best Egg's tangible net assets and other customary adjustments.
4. Based on Best Egg's expected 2026 earnings after tax assuming continuation of its current funding model and excluding one-off transaction effects.
5. This multi-year plan is subject to supervisory and Board approval, anticipated financial performance and our published CET1 ratio target range of 13-14%. Our targets and guidance are based on management's current expectations as to the macroeconomic environment and the business and are subject to change.

Advisers
Barclays Capital Inc. is serving as financial adviser to Barclays Bank Delaware. Goldman Sachs & Co. LLC is serving as financial adviser to Best Egg.

About Barclays
Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients and communities.

For further information about Barclays, please visit our website home.barclays

About Best Egg
Best Egg is a leading fintech that drives financial confidence, providing flexible solutions to help people with limited savings adapt to their changing needs. Best Egg supports customers through a growing suite of personal loans and financial health tools. Leveraging real-time customer insights and data engineering, Best Egg gives more people access to the resources they need to be money confident. For more information, visit https://www.bestegg.com/ 

Non-IFRS performance measures
Barclays' management believes that the non-International Financial Reporting Standards ("IFRS")/IFRS performance measures included in this document provide valuable information to the readers of the financial statements as they enable the reader to identify a more consistent basis for comparing the businesses' performance between financial periods and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by Barclays' management. However, any non-IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well. Refer to Barclays PLC's filings with the US Securities and Exchange Commission ("SEC") (including, without limitation, Barclays PLC's Annual Report on Form 20-F for the financial year ended 31 December 2024), which are available on the SEC's website at www.sec.gov for further information and calculations of non-IFRS performance measures and the most directly comparable IFRS measures.

Forward-looking statements
This document contains forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Group ("Barclays"). Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. 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 'may', 'will', 'seek', 'continue', 'aim', 'anticipate', 'target', 'projected', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', 'achieve' or other words of similar meaning. Forward-looking statements are based on the current beliefs and expectations of Barclays' directors, officers and employees and are subject to significant risks and uncertainties. Actual outcomes may differ materially from those expressed in the forward-looking statements. In setting its targets and outlook for the period 2024-2026, Barclays has made certain assumptions about the macroeconomic environment, including, without limitations, inflation, interest rates, the different markets and competitive conditions in which Barclays operates, and its ability to grow certain businesses and achieve costs savings and other structural actions. Factors that could impact Barclays' future financial condition and performance are identified in Barclays PLC's filings with the SEC (including, without limitation, Barclays PLC's Annual Report on Form 20-F for the financial year ended 31 December 2024), which are available on the SEC's website at www.sec.gov.

Subject to Barclays' obligations under the applicable laws and regulations of any relevant jurisdiction, (including, without limitation, the UK and the US), in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Barclays