Barclays PLC agreed to buy the Italian credit card business of Citigroup Inc.'s Citibank International Bank PLC to gain 197,000 new customers.

The division has gross assets of about $322 million and the transaction is expected to be completed this quarter, Britain's third-largest bank said Thursday, without providing a price.

Barclays will integrate the business into its global retail and commercial banking division under the Barclaycard brand, it said.

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