Finance
Spain’s BBVA Sells 300 Retail Branches Amid Shift to Digital
Customers use an ATM outside a BBVA bank in Barcelona, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Banco Bilbao Vizcaya Argentaria SA is selling about 300 branches as the lender shifts to digital offerings.
The price for the portfolio is about €100 million ($109 million), people familiar with the matter said. The buyer is a domestic property fund and BBVA has been receiving advice on the transaction from investment bank Alantra Partners SA, they said, asking not to be named discussing private information.