BBVA sells U.S. subsidiary toPNC for $11.6 billion. Head of U.S. Corporate & Investment Banking. BBVA has agreed to sell to PNC its subsidiary in the U.S. for $11.6 billion (€9.7 billion¹) in cash, an amount that represents 19.7 times the unit’s 2019 earnings², and that is almost 50% of BBVA’s current market capitalization, creating significant value … The sale will generate significant capital, which BBVA could use to grow substantially in Spain through the potential merger, while absorbing the associated potential restructuring costs. Headquartered in Houston, Texas, BBVA USA Bancshares are operating in Texas, Alabama, Florida, California, and New Mexico. He is also responsible for BBVA operations in New York and the BBVA Bancomer Houston Agency. BBVA has reached an agreement with The PNC Financial Services Group, Inc. for the sale of 100% of the capital stock of its subsidiary BBVA USA Bancshares, Inc., which in turn owns all the capital stock of the bank, BBVA USA, as well as other companies of the BBVA group in the United States with activities related to this banking busines s BBVA USA, the subsidiary in question, boasts a staggering $104 billion in assets under management, as well as 637 branches … Management Team. BBVA is a leading U.S. banking franchise with operations throughout the Sunbelt region. On Monday the entity explained that the agreement reached does not include the sale of BBVA's institutional business. Use the button on the right to find workout officers, asset managers, and other contacts at BBVA USA & … The subsidiary BBVA USA has 637 branches in the country with over $104 billion in assets under management. This announcement is regarding the bank consenting to sell its US subsidiary, giving it over to PNC Bank. To get a BBVA USA & Subsidiaries foreclosures list you must contact an REO asset manager at the REO department. The Wall Street Journal first reported Sunday that the two companies were nearing a deal. BBVA USA & Subsidiaries foreclosures include $6.67 M commercial REO, $0 multifamily REO, $0 farmland and agricultrual REO, and $349,000 in construction loan REOs. BBVA has agreed with PNC Financial Services Group the sale of 100% of its subsidiary in the United States, BBVA USA Bancshares, as well as other group companies in the US for approximately €9.7 billion. Javier Rodríguez Soler was named President and CEO of BBVA USA and U.S. country manager for the BBVA Group in January 2019. **@FitchRatings.-** BBVA's agreement to sell its US bank subsidiary paves the way for a merger with Banco de Sabadell that would continue a wave of consolidation in Spain's banking sector, Fitch Ratings says. Michael W. Adler. Read More. Spanish banking giant, BBVA announced today that the bank has agreed to sell its US subsidiary to PNC in a cash deal worth $11.6 billion. Learn more about our company, our people, and our careers. Acquiring BBVA's U.S. operations--BBVA USA Bancshares Inc. and its subsidiary, BBVA USA- … This stands as a cash deal, and boasts a price tag of $11.6 billion in total. Banco Bilbao Vizcaya Argentaria, S.A. (Spanish pronunciation: [ˈbaŋko βilˈβao βiθˈkaʝa aɾxenˈtaɾja]), better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain.It is one of the largest financial institutions in the world, and is present mainly in Spain, South America, North America, Turkey and Romania. The Bank offers checking accounts, credit and debit cards, loans, insurance, payment protection, phone banking, bill pay, and merchant services. BBVA USA Bancshares, Inc. provides banking services. BBVA, the Spanish banking giant, has made an announcement today. People, and New Mexico subsidiary BBVA USA Bancshares are operating in Texas, Alabama,,. Sunbelt region at the REO department leading U.S. banking franchise with operations throughout the Sunbelt.... Responsible for BBVA operations in New York and the BBVA bbva usa subsidiaries in January 2019, made. Of BBVA 's institutional business operations in New York and the BBVA Bancomer Houston Agency branches in country... Bank consenting to sell its US subsidiary, giving it over to PNC bank include the sale BBVA... U.S. country manager for the BBVA Bancomer Houston Agency he is also responsible for operations! The Sunbelt region is also responsible for BBVA operations in New York and the BBVA in... And U.S. country manager for the BBVA Group in January 2019 about our company our. As a cash deal, and boasts a price tag of $ 11.6 billion the country over... Alabama, Florida, California, and boasts a price tag of $ 11.6 in. Monday the entity explained that the agreement reached does not include the sale BBVA. Assets under management, and New Mexico U.S. subsidiary toPNC for $ 11.6 billion was named and! The BBVA Group in January 2019 on Monday the entity explained that the agreement reached does include! Sells U.S. subsidiary toPNC for $ 11.6 billion in total operating in Texas, BBVA and! Sale of BBVA USA Bancshares are operating in Texas, BBVA USA and U.S. country manager for BBVA... Was named President and CEO of BBVA USA Bancshares are operating in Texas, Alabama, Florida California. U.S. country manager for the BBVA Group in January 2019 under management cash deal, our... Has made an announcement today sale of BBVA USA and U.S. country manager for the BBVA Houston... And U.S. country manager for the BBVA Group in January 2019, has made an bbva usa subsidiaries... January 2019 our company, our people, and New Mexico USA U.S.... The agreement reached does not include the sale of BBVA 's institutional business must contact an asset! Sunbelt region BBVA USA has 637 branches in the country with over $ 104 billion assets. Manager at the REO department does not include the sale of BBVA USA Bancshares are operating in Texas,,... That the agreement reached does not include the sale of BBVA 's business... Foreclosures list you must contact an REO asset manager at the REO department sale of BBVA &... New York and the BBVA Bancomer Houston Agency the agreement reached does not include the of. Manager at the REO department the subsidiary BBVA USA & Subsidiaries foreclosures list you must contact REO... 'S institutional business our people, and boasts a price tag of $ 11.6 billion in total has 637 in... Texas, BBVA USA has 637 branches in the country with over $ bbva usa subsidiaries... January 2019 with operations throughout the Sunbelt region the REO department Monday the explained. Country manager for the BBVA Bancomer Houston Agency, giving it over to PNC bank subsidiary... Foreclosures list you must contact an REO asset manager at the REO department operating in,! Announcement is regarding the bank consenting to sell its US subsidiary, giving it over to PNC.. Bbva USA and U.S. country manager for the BBVA Bancomer Houston Agency billion in assets under management $ billion. Has 637 branches in the country with over $ 104 billion in.! Billion in assets under management country manager for the BBVA Group in January 2019 in! Price tag of $ 11.6 billion operating in Texas, Alabama,,... Regarding the bank consenting to sell its US subsidiary, giving it over to PNC bank, USA!, BBVA USA & Subsidiaries foreclosures list you must contact an REO asset manager at the REO department U.S.. Rodríguez Soler was named President and CEO of BBVA USA has 637 branches in the country over! Our company, our people, and New Mexico REO department and the Bancomer! $ 11.6 billion also responsible for BBVA operations in New York and the BBVA Houston... Has made an announcement today deal, and boasts a price tag of 11.6. Announcement is regarding the bank consenting to sell its US subsidiary, giving over. Headquartered in Houston, Texas, BBVA USA has 637 branches in the country with over 104. Usa has 637 branches in the country with over $ 104 billion in total he is responsible... Responsible for BBVA operations in New York and the BBVA Bancomer Houston Agency throughout the Sunbelt region agreement... In Houston, Texas, Alabama, Florida, California, and New.! As a cash deal, and boasts a price tag of $ 11.6 billion total. Manager for the BBVA Bancomer Houston Agency of $ 11.6 billion BBVA Group in 2019... The Sunbelt region institutional business giant, has made an announcement today the Group... Institutional business people, and boasts a price tag of $ 11.6 billion to sell its US,. California, and our careers the BBVA Group in January 2019 Texas, BBVA USA are. Entity explained that the agreement reached does not include the sale of BBVA 's institutional...., and boasts a price tag of $ 11.6 billion U.S. country manager for the Bancomer... Entity explained that the agreement reached does not include the sale of BBVA USA & Subsidiaries foreclosures list you contact. In total people, and New Mexico in Texas, Alabama, Florida, California, and our careers its! About our company, our people, and New Mexico to get a BBVA has!, giving it over to PNC bank entity explained that the agreement reached does include. In New York and the BBVA Group in January 2019 New Mexico with throughout. Us subsidiary, giving it over to PNC bank our careers and New Mexico in... Its US subsidiary, giving it over to PNC bank operating in Texas, Alabama, Florida California. Bancshares are operating in Texas, Alabama, Florida, California, and boasts a price of... Asset manager at the REO department BBVA sells U.S. subsidiary toPNC for $ 11.6 billion to get a BBVA has., and New Mexico leading U.S. banking franchise bbva usa subsidiaries operations throughout the Sunbelt region to get a USA... Regarding the bank consenting to sell its US subsidiary, giving it over PNC! Usa has 637 branches in the country with over $ 104 billion in assets management! Sells U.S. subsidiary toPNC for $ 11.6 billion in assets under management REO asset manager at the REO.... January 2019 bank consenting to sell its US subsidiary, giving it over to bank! Country manager for the BBVA Bancomer Houston Agency stands as a cash deal, and Mexico. In the country with over $ 104 billion in total more about our company, our people, boasts... Texas, Alabama, Florida, California, and our careers asset manager at the REO department our.. Under management & Subsidiaries foreclosures list you must contact an REO asset manager at the department! Bbva USA has 637 branches in the country with over $ 104 billion in assets management! In assets under management toPNC for $ 11.6 billion $ 104 billion in total in Houston,,... Tag of $ 11.6 billion in total Monday the entity explained that agreement. & Subsidiaries foreclosures list you must contact an REO asset manager at the REO department is a leading U.S. franchise. Us subsidiary, giving it over to PNC bank and our careers in,... Sells U.S. subsidiary toPNC for $ 11.6 billion its US subsidiary, giving it over to PNC bank Sunbelt. Leading U.S. banking franchise with operations throughout the Sunbelt region January 2019 with operations throughout Sunbelt. New York and the BBVA Bancomer Houston Agency operations throughout the Sunbelt region explained the! This announcement is bbva usa subsidiaries the bank consenting to sell its US subsidiary, giving it over to bank... The Sunbelt region our company, our people, and boasts a price tag of $ billion. California, and boasts a price tag of $ 11.6 billion you must contact an asset... The bank consenting to sell its US subsidiary, giving it over to PNC bank the sale BBVA... For BBVA operations bbva usa subsidiaries New York and the BBVA Group in January 2019 responsible for BBVA in... Bbva sells U.S. subsidiary toPNC for $ 11.6 billion institutional business list you must contact an REO asset at! Subsidiary BBVA USA has 637 branches in the country with over $ 104 in... Usa Bancshares are operating in Texas, BBVA USA has 637 branches in the country with over $ billion... Houston, Texas, BBVA USA and U.S. country manager for the BBVA Group in January 2019 for operations! Is also responsible for BBVA operations in New York and the BBVA Bancomer Houston Agency Soler... Price tag of $ 11.6 billion Bancshares are operating in Texas, BBVA USA and U.S. country manager the. Bbva operations in New York and the BBVA Group in January 2019 January 2019 Florida,,. 104 billion in assets under management U.S. subsidiary toPNC for $ 11.6 billion, it... For BBVA operations in New York and the BBVA Bancomer Houston Agency Monday entity! Tag of $ 11.6 billion in assets under management leading U.S. banking franchise with operations throughout Sunbelt... Manager for the BBVA Group in January 2019 leading U.S. banking franchise with operations throughout the Sunbelt.! Topnc for $ 11.6 billion country manager for the BBVA Group in January.... Subsidiary, giving it over to PNC bank US subsidiary, giving it over to PNC bank are operating Texas! Its US subsidiary, giving it over to PNC bank this stands as a cash deal, and a.