Banco Bilbao Vizcaya Argentaria SA has completed the sale of its subsidiary in Paraguay for about $250 million.
The Spanish bank said late Friday that the deal leads to a loss of roughly nine million euros ($11 million) while adding about six basis points to its core Tier 1 capital, which will be reported in its first-quarter results.
The acquirer is Banco GNB Paraguay SA, an affiliate of Grupo Gilinski.
Write to Pietro Lombardi at firstname.lastname@example.org; @pietrolombard10
View more information: https://www.marketwatch.com/story/bbva-completes-sale-of-paraguay-unit-2021-01-25-14854334