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Company News

BRIEF-BBVA Completes Sale Of BBVA Chile to Bank Of Nova Scotia

July 9 (Reuters) - Banco Bilbao Vizcaya Argentaria SA :

* SAID ON FRIDAY HAS COMPLETED SALE OF ITS STAKE IN BBVA CHILE TO THE BANK OF NOVA SCOTIA

* SAYS SALE INCLUDES STAKE IN OTHER COMPANIES OF ITS GROUP IN CHILE WHICH OPERATIONS ARE COMPLEMENTARY TO THE BANKING BUSINESS, PARTICULARLY BBVA SEGUROS VIDA SA

* SAYS BBVA’S STAKE IN BBVA CHILE AMOUNTS TO ABOUT 68.19 PERCENT OF ITS SHARE CAPITAL

* SAYS PAYMENT RECEIVED IN CASH AMOUNTS TO ABOUT $2.2 BILLION

* SAYS TRANSACTION RESULTS IN NET CAPITAL GAIN OF ABOUT 640 MILLION EUROS AND IN POSITIVE IMPACT ON BBVA GROUP’S CET 1 (FULLY LOADED) OF ABOUT 50 BASIS POINTS

* SAYS THESE IMPACTS WILL BE RECORDED IN BBVA GROUP’S FINANCIAL STATEMENTS FOR THIRD QUARTER OF 2018

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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