Santander Buys Portugal's Banif for $163 Million Amid Resolution

  • Banif clients, branches to be transferred in bank resolution
  • `Problematic assets' won't be part of Santander's acquisition

Banco Santander SA agreed to buy lending operations of Portugal’s Banif-Banco Internacional do Funchal SA for 150 million euros ($163 million) in Chairman Ana Botin’s first acquisition since taking over last year.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.