Spanish lender Abanca buys 95% of Portuguese bank EuroBic

Eugenia Jiménez
clock • 1 min read

Spanish lender Abanca recently announced it has agreed to take a 95% stake in the Portuguese bank EuroBic. The acquisition, which is still subject to the completion of due diligence, is the second of Abanca in Portugal and the fifth overall since 2014. The price of the operation has not yet been disclosed but it has been reported that it is aimed at boosting the Spanish bank's revenues amid pressures for European lenders due to zero interest rates. Abanca chairman Juan Carlos Escotet...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login

Eugenia Jiménez
Author spotlight

Eugenia Jiménez

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