Banco Bilbao Vizcaya Argentaria SA Estrategy automobile financing business in Chile (0472L)
December 20 2018 - 1:00AM
UK Regulatory
TIDMBVA
RNS Number : 0472L
Banco Bilbao Vizcaya Argentaria SA
19 December 2018
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with
the Securities Market legislation, hereby communicates the
following
INSIDE INFORMATION
BBVA has decided to initiate a strategic review of alternatives
for its automobile financing business in Chile mainly carried out
by the company Forum Servicios Financieros, S.A. ("Forum"). Despite
Forum being a highly attractive business, BBVA's sale of its
banking business in Chile, advises the initiation of this review
process.
The alternatives contemplated in this process include the
partial or total sale of Forum. The outcome of this review does not
necessarily imply the sale of the business.
The process is expected to last for several quarters.
BBVA maintains its strategic commitment for the Latin American
market and shall continue to invest in the region, which remains a
priority for the growth of BBVA's business.
Madrid, December 19, 2018
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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