Banca March buys the Spanish private bank from BNP Paribas, according to Expansión

FILE PHOTO: The BNP Paribas logo is seen on the bank’s building in Issy-les-Moulineaux, near Paris, France, February 3, 2022. REUTERS/Gonzalo Fuentes

MADRID, Feb 15 (Reuters) – Banca March has agreed to buy the private banking business of BNP Paribas in Spain for 100 million euros ($113 million), the Expansión newspaper reported on Tuesday, basing its information on sources from the unidentified market.

BNP Paribas will transfer 80% of its client base and its bankers to the Spanish group, the newspaper said, adding that the French bank will retain 20% of the business.

The deal is likely to be officially signed on Wednesday, Expansión added.

Spokespeople for BNP Paribas and Banca March were not available for comment.

(1 dollar = 0.8836 euros)

(Reporting by Inti Landauro and Jesús Aguado; editing by Jason Neely, translated by Tomás Cobos)

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