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Name | Symbol | Market | Type |
---|---|---|---|
Banco Santander SA | NYSE:SAN | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.04 | -0.82% | 4.83 | 4.86 | 4.81 | 4.85 | 1,502,812 | 22:32:53 |
By Pietro Lombardi
Banco Santander SA (SAN.MC) has agreed to sell its retail and commercial operations in Puerto Rico to FirstBank Puerto Rico for about $1.1 billion.
The transaction should add 5 or 6 basis points to Santander's core Tier 1 ratio--a measure of a bank's capital strength--and have no material impact on its net profit, it said late Monday.
The deal includes 27 bank branches and assets of $6.2 billion, the Spanish bank said.
Santander will keep operating on the island including through Santander Consumer USA.
The deal is expected to close by mid-2020.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
October 22, 2019 01:55 ET (05:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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