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Spain's Bankia to Sell Florida Bank to Chile's BCI for $882.8 Million

Spain's Bankia SA (BKIA.MC) said Friday it has agreed to sell a small bank in Florida to Chilean bank Banco de Credito e Inversiones SA (BCI.SN) for $882.8 million, in the latest sign of a shift in trends in the financial-services industry across the Americas.The sale of Miami-based City National Bank of Florida comes as banking heavyweights in developed economies are retreating while Latin American banks expand across the region, seeking to complement growth at home or to take advantage of the financial weakness at European and U.S. banks.The deal forms part of Bankia's plan to shed assets to boost capital ratios and restructure its business, which suffered when a decade-long real-estate bubble in Spain burst. Authorities from the European Union, which had to inject billions of euros into Spain's ailing banking system to cover property-sector losses, have required nationalized banks such as Bankia to take such measures."We're likely to continue to see acquisitions in this industry, bu...

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  6. Banco do Brasil Bidding For a Florida Bank Owned by Bankia

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  7. Banco do Brasil May Pay $750 Million for Bankia's Florida Unit

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  8. Banco do Brasil May Pay $750 Million for Bankia's Florida Unit -Source

    Latin America's largest bank in terms of assets, Banco do Brasil SA BBAS3.BR, BDORY), is in advanced talks to buy City National Bank of Florida, a unit of Spain's Ba...

  9. Small businesses spell big problems for Italy and Spain

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  10. No sign of fallout in Spain from Cyprus crisis, minister says

    The crisis in Cyprus has not prompted any flight of bank-deposits from Spain, the country's economy minister said in an interview on Sunday.Luis de Guindos said the ...

  11. Bankia Restructuring to Impose Big Losses

    Bankia SA (BKIA.MC) shareholders will be nearly wiped out and its junior bondholders will lose around 30% of their original investment in the restructuring plan for ...

  12. Bankia Planning Reverse Stock Split

    Spanish nationalized bank Bankia SA (BKIA.MC) is planning to carry out a reverse stock split to increase share price and liquidity, and allow its stock to keep tradi...

  1. Chile's BCI Bank Acquires Bankia's City National For $882.8 Million

    Banco de Credito e Inversiones SA (BCI.SN), Chile's third largest private bank in terms of loans, said in a filing with the local banking overseer it agreed to purch...

  2. Bankia Close to Selling Florida Bank to Chile's BCI

    Spain's Bankia SA (BKIA.MC) is close to selling City National Bank of Florida to Chilean bank Banco de Credito e Inversiones SA (BCI.SN) for close to $900 million, a...

  3. Spain's Bankia Close to Selling Florida Bank to Chile's BCI - Sources

    Spain's Bankia SA (BKIA.MC) is close to selling City National Bank of Florida to Chilean bank Banco de Credito e Inversiones SA (BCI.SN) for close to $900 million, a...

  4. Bankia compensation qualms signal loss of faith in Spain's banks

    Many duped savers at Spanish lender Bankia are shunning a state-supervised compensation scheme in favor of expensive lawsuits, prolonging a mis-selling scandal and c...

  5. Hunt for those at fault for Spain's bank crisis gains pace

    The arrest of a prominent former Spanish banker is raising hopes among campaigners that the hunt for those responsible for the problems inherited by Bankia and other...

  6. Banco do Brasil Expects To Announce Acquisition in U.S in May -Banker

    Latin America's largest bank in terms of assets, Banco do Brasil SA (BBAS3.BR), is in the final stages of negotiations to acquire a small bank up for sale in Florida...

  7. U.S., Latin America Are Focus for Banco do Brasil Expansion

    The focus for any overseas acquisitions by Brazil's government-run Banco do Brasil will be other countries in Latin America as well as the U.S., the bank's vice pres...

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