During the past two years, international sales by big banks have been seen to signal the demise of global ambition in retail banking, but things are different at Spanish banks, including BBVA.
The Madrid-based lender started the latest round of US exits by big European banks in late-2020, with the sale of BBVA USA to PNC. That was not long after it had sold banks in Chile and Paraguay, in the late 2010s.
The sale of HSBC’s US retail business followed in May 2021.
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