Barclays Bank Delaware announced the acquisition of Best Egg, a U.S. personal‑loan originator, for $800 million.
The transaction will close in the second quarter of 2026, subject to regulatory approvals and other customary conditions.
Best Egg, operating under Marlette Holdings, Inc., has facilitated more than $40 billion in loans to over 2 million customers since 2013 and is expected to originate over $7 billion in 2025.
The deal adds fee‑based, capital‑light income, diversifies Barclays’ U.S. consumer loan portfolio, and offsets the winding down of the American Airlines co‑branded credit‑card partnership, which will be transferred to Citi.
Best Egg’s $11 billion loan book is funded through securitisation programmes and forward‑flow agreements, aligning with Barclays’ existing model.
The transaction consumes approximately 16 basis points of Group CET1 capital, but when combined with the sale of the American Airlines receivables, it is expected to increase Barclays’ Group CET1 ratio by about 6 basis points in Q2 2026.
The consideration is based on $275 million in tangible net assets, representing a high‑single‑digit price‑to‑earnings multiple.
Best Egg focuses on prime borrowers and employs a capital‑light business model that generates fee income while limiting balance‑sheet exposure.
The acquisition is expected to be accretive to Barclays’ Return on Tangible Equity and Earnings Per Share in 2027 and supports the U.S. Consumer Bank’s mid‑teens RoTE target after 2026.
The deal also expands personal‑loan offerings for Barclays’ U.S. card partners and strengthens its foothold in a high‑growth segment of the U.S. market.
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