BNP Paribas Sells Spanish Private Bank to Focus on Rich Clients
February 17 2022 - 2:31AM
Dow Jones News
By Cristina Roca
BNP Paribas SA has sold its Spanish private-banking activities
to Banca March, but will continue to serve high-net-worth clients
with global needs.
Privately-owned Banca March, a Spanish financial group, said
late on Wednesday that it has acquired the business for an
undisclosed amount. The business has assets under management of
about 3.6 billion euros ($4.09 billion).
BNP Paribas plans to remain present in Spain through its
wealth-management arm. In line with its strategy, it will hone its
focus on serving a more affluent clientele.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
February 17, 2022 02:16 ET (07:16 GMT)
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