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.’