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Friday, December 1, 2017

Santander sells Banco Popular subsidiary in the US to Chilean BCI

Banco Santander reached an agreement to sell 100% of Totalbank, the subsidiary of Banco common within the us based mostly in Miami (Florida), to the Bank of Credit and Investments (BCI) of Chile for 528 million dollars, about 444 million euros at this rate of exchange.

The dealings can imply a capital gain in the individual accounts of Banco Popular of one hundred seventy million euros (202 million dollars), as reported by Santander to the National Securities Mmarket Commission (CNMV), the Spanish securities regulator.

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