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Spain’s Banco Sabadell Sells Depositary Unit To BNP Paribas

By  |  March 30, 2020

Spanish bank Banco de Sabadell said on Monday, March 30, it agreed to sell its depositary unit to France’s BNP Paribas for 115 million euros ($127.40 million). 

The Sabadell unit had assets worth 22 billion euros in custody, reported Reuters. 

The sale, which is expected to be closed during the second quarter of 2021, will bring Sabadell a net capital gain worth 75 million euros.

Full Content: Reuters

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