BBVA sells Paraguay arm for €240m to Gilinski Group

Eugenia Jiménez
clock • 1 min read

Spanish banking institution BBVA has sold its business in Paraguay to Banco GNB Paraguay, from the financial group Gilinski, for €240m. The sale's price could vary until the closing date of the operation, which is pending regulatory approvals and expected to be finalised by the end of the year, BBVA explained through a statement. The company also said that it expects to generate around €20m in net capital gains, with a positive impact of about 5bp in the fully loaded CET1 capital ratio. The acquisition will allow Banco GNB Paraguay to become the first bank in Paraguay in terms of d...

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Eugenia Jiménez
Author spotlight

Eugenia Jiménez

Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as Italy.

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