BBVA completes sale of Paraguay unit

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; @pietrolombard10

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