Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Bankia Sells Florida Lender to Chile’s BCI for $883 Million

Bankia SA, a Spanish lender rescued last year with funds from Europe, agreed to sell its bank in Florida to Chile’s Banco de Credito e Inversiones for $882.8 million.

The sale of City National Bank of Florida will yield a net gain of 180 million euros ($233 million) and add 30 basis points to core capital, Valencia-based Bankia said in a filing to regulators today.

The terms of a 22 billion-euro bailout for Bankia oblige Chairman Jose Ignacio Goirigolzarri to find buyers for non-core assets such as the Miami-based bank and holdings including a stake in insurer Mapfre SA. City National had $4.7 billion of assets, 26 branches and 435 employees at the end of March, Bankia said.

BCI fell 4.7 percent today in Santiago, its biggest drop since September 2011. The bank, owned by the billionaire Yarur family, plans to pay for the acquisition by selling new stock and bonds, it said in a statement.

BCI’s acquisition is the second foray out of Chile by a local bank after Corpbanca SA, controlled by Billionaire Alvaro Saieh, 63, acquired Banco Santander SA’s operations in Colombia for $1.16 billion in December 2011. Corpbanca later agreed to pay $1.28 billion for Colombia’s Helm Bank SA to expand its presence in the country.

Bankia joins other Spanish lenders that have sold assets in the Americas to bolster capital.

CaixaBank SA said yesterday it may sell a 10 percent stake in Grupo Financiero Inbursa SAB, a Mexican financial services firm owned by 73-year-old billionaire Carlos Slim. Banco Santander sold a stake last year in Grupo Financiero Santander Mexico, adding to disposals of other Latin American assets including its Colombian bank.

Caja Madrid, the lender that led a seven-way merger of savings banks in 2010 to form Bankia, acquired City National in April 2008, paying $927 million for an 83 percent stake.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.