Banking
Banca March Buys BNP Paribas’s Spanish Private Bank, Expansion Says
Published by maria gbaf
Posted on February 16, 2022
1 min readLast updated: February 9, 2026
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Published by maria gbaf
Posted on February 16, 2022
1 min readLast updated: February 9, 2026
Add as preferred source on GoogleMADRID (Reuters) – Privately held Spanish investment bank Banca March has agreed to buy BNP Paribas’s private bank in Spain for 100 million euros ($113 million), Expansion newspaper reported on Tuesday, citing unidentified market sources.
MADRID (Reuters) – Privately held Spanish investment bank Banca March has agreed to buy BNP Paribas’s private bank in Spain for 100 million euros ($113 million), Expansion newspaper reported on Tuesday, citing unidentified market sources.
BNP Paribas will transfer 80% of its portfolio of clients and its bankers to the Spanish bank, the newspaper said, adding the French bank will retain 20% of the business.
The deal is likely to be officially signed on Wednesday, Expansion added.
Spokespeople at BNP Paribas and Banca March were not immediately available for comment.
($1 = 0.8836 euros)
(Reporting by Inti Landauro and Jesus Aguado; editing by Jason Neely)
Private banking refers to personalized financial services and investment management offered to high-net-worth individuals, providing tailored solutions to meet their unique financial needs.
A portfolio is a collection of financial investments such as stocks, bonds, commodities, and cash equivalents, managed to achieve specific financial goals.
Investment is the act of allocating resources, usually money, in order to generate income or profit over time, typically through various financial instruments.
Financial services encompass a broad range of services provided by the finance industry, including banking, investment, insurance, and asset management.
A financial community refers to a network of individuals and organizations involved in the finance sector, sharing information, resources, and expertise.
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