BBVA Says EUR5 Billion Capital Increase Fully Subscribed

Banco Bilbao Vizcaya Argentaria SA (BBVA.MC), Spain's second- largest bank by market value, said Friday a EUR5 billion capital increase, launched earlier this month to help finance the purchase of a 24.9% stake in Turkey's Garanti Bankasi AS (GARAN.IS), has been fully subscribed.

In a filing with Spain's stock market regulator, BBVA said the new shares will be listed in the country Nov 30. The capital increase amounts to over 15% of BBVA's EUR29 billion market capitalization.

BBVA is one of several European banks that conducted rights issues in recent weeks, for various reasons, including the U.K's Standard Chartered PLC (STAN.LN), Germany's Deutsche Bank AG (DB), the National Bank of Greece (ETE.AT) and Italy's Banco Populare (BP.MI).

-By David Roman, Dow Jones Newswires, +34 91 395 8127; david.roman@dowjones.com

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