Chile’s BCI Said to Be Among Suitors for Bankia’s Florida Unit

Chilean lender Banco de Credito e Inversiones is among bidders vying to buy the Bankia (BKIA) group’s bank in Florida, two people with knowledge of the matter said.

BCI is among the bidders, which also include Banco do Brasil SA, Latin America’s biggest bank by assets, one of the people, who asked not to be identified because the information isn’t public, said today. Bankia’s board was scheduled to meet at 5 p.m. Madrid time to discuss the sale of the Florida bank.

A spokesman for Bankia in Madrid, who asked not to be named in line with company policy, declined to comment. Santiago-based BCI declined to comment, according to an external spokesman, who also asked not be named, citing company policy. A spokesman for Banco do Brasil wasn’t immediately available for comment.

Bankia is selling City National Bank of Florida and other non-core assets under the terms of a 22 billion-euro ($28 billion) European Union rescue last year. Caja Madrid, the lender that led a seven-way merger of savings banks in 2010 to form Bankia, acquired City National in 2008.

To contact the reporter on this story: Charles Penty in Madrid at cpenty@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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