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Opinion

BBVA fills a hole – now it’s Santander’s turn

By Dominic O’Neill
November 16, 2020
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Selling its US bank to PNC fixes BBVA’s capital problem and allows it to consolidate in Spain. Arch-rival Santander’s similar troubles may be harder to solve.

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Read more: PNC Financial Services

The €9.7 billion sale to PNC Financial Services of BBVA USA Bancshares has come not a minute too soon for BBVA, with it being one of the European banks hardest hit by Covid-19.

Although


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Tags

Opinion BankingPNC Financial ServicesBBVASantanderSpainUnited StatesCoronavirusOpinionColumns
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Dominic O’Neill
Dominic O’Neill is EMEA editor. He joined Euromoney in 2007 to cover emerging markets, focusing on central and eastern Europe, Middle East and Africa, and later on Latin America. Based in London, he has covered developed market banking since 2015.
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