Banco GNB Paraguay, a subsidiary of Colombian Grupo Financiero Gilinski, acquired 100% of the capital of the Paraguayan subsidiary of BBVA for 270 million dollars, the Spanish bank reported Wednesday to the National Commission of the Stock Market (CNMV) of Spain .
The closing of the operation awaits regulatory authorization from the competent authorities, but it is estimated that it will be carried out in the last quarter of this year.
Those 270 million in which the sale of the direct and indirect shareholding of BBVA Paraguay to the Colombian group is estimated to be subject to adjustments between the date of the signature and the closing date of the operation, by the end of the fourth quarter of 2019.
The integration of the two entities will make Banco GNB Paraguay the first bank for deposits in the country, with a total assets of 3,250 million dollars, by acquiring the 2.1 billion dollars of BBVA Paraguay, the Spanish bank said in a statement .
BBVA Paraguay was in fourth position in the local market, with a share of loans volume of 9.3% and deposits of 11%.
With this operation, BBVA will obtain a net capital gain of about 20 million euros (about 22 million dollars), with which it expects a positive impact on the ratio of maximum quality capital (CET 1) "fully loaded" closely of five basic points.
The Spanish entity reached in June a CET 1 ratio of 11.52%, which reached its target for the quarter, between 11.5% and 12%.
BBVA obtained a global net profit of 2,442 million euros (about 2,735 million dollars) in the first half of the year, which meant a 3.7% drop compared to the same period of 2018, as reported at the end of July to the CNMV
. (tagsToTranslate) Bank (t) GNB (t) Paraguay (t) Paraguayan (t) BBVA