BBVA To Sell Puerto Rico Unit to Oriental Financial for $500 Million
June 28 2012 - 8:02AM
Dow Jones News
MADRID--Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) said
Thursday it has reached an agreement to sell its business in Puerto
Rico to Oriental Financial Group Inc. (OFG) for $500 million.
The sold business is the seventh biggest in Puerto Rico by
deposits, with $5.2 billion in assets and $3.3 billion in deposits,
BBVA said in a regulatory filing.
San Juan-based Oriental is the fourth-largest bank in Puerto
Rico.
Write to Christopher Bjork at christopher.bjork@dowjones.com
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