BBVA: wants to sell its custodian business

(CercleFinance.com) - Spanish bank BBVA would like to sell its custodian business for 400 million euros, the business journal Expansion reports.


BBVA is reportedly looking for buyers for its securities custody business. The Spanish bank would like to close the deal this year, Expansion says. The sale would increase the group's capital, which has just completed a redundancy plan in Spain and is finalising a share repurches scheme.

The group has already informed potential buyers some of the conditions for the sale of this business - particularly its sale price.

The Spanish bank has already completed the sale of its Paraguay unit to Colombia's Grupo Gilinski for around 250 million dollars (about 210 million euros).

BBVA's Paraguay business had total assets of 1.9 billion dollars (about 1.6 billion dollars) at the end of the third quarter of 2020.


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