Barclays Partner Finance announces departure from motor finance market

Barclays Partner Finance announces departure from motor finance market

BARCLAYS Partner Finance today revealed that it will be leaving the motor finance market as part of a larger commercial decision.

In a statement issued today, the company stated that ‘Barclays Partner Finance is currently number one in UK retail point of sale and has a vision to continue to lead this market through continued investment in new capabilities and innovation to grow.

‘After a strategic review of its motor portfolio, Barclays Partner Finance has made a commercial decision to reduce its focus on motor point of sale finance.

‘Given this outcome, the business will no longer invest in the motor portfolio as a growth area and will shortly cease to originate new business in this segment.

‘We will continue to support colleagues as we work through this transition.’

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