CHESTER-BASED MBNA Europe Bank has sold its small business credit card portfolio to Barclaycard.
The sale affects about 50 staff at the Bank of America subsidiary’s Chester Business Park operation.
The small business credit card portfolio has about £130m of outstanding balances from 60,000 customers.
The portfolio will be integrated into Barclaycard’s payment division. The announcement follows a recent deal that sees Barclays acquire Egg’s credit card business.
An MBNA spokesman said: “The small portfolio was not core to our main consumer credit card business and after reviewing a number of options, we decided a sale was the right way forward for our staff, customers and for our business.
“We are currently consulting with around 50 associates who support our small business credit card division. The team will still be needed as part of the transition of the portfolio to Barclays and we are aiming to redeploy the vast majority of the team.”
