BBVA: closes sale of Paraguay unit

(CercleFinance.com) - Spanish bank BBVA said that it has closed the sale of its Paraguay unit to Colombia's Grupo Gilinski for approximately 250 million dollars (about 210 million euros).


The deal - that was announced in 2019 - is expected to generate a capital loss of approximately 9 million euros due to the profit that BBVA has made from the unit, the lender said.

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

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