Banco Bilbao Vizcaya Argentaria S A : BBVA Completes Sale of Paraguay Unit

By Pietro Lombardi

Banco Bilbao Vizcaya Argentaria SA has completed the sale of its subsidiary in Paraguay for about $250 million.

The Spanish bank said late Friday that the deal leads to a loss of roughly nine million euros ($11 million) while adding about six basis points to its core Tier 1 capital, which will be reported in its first-quarter results.

The acquirer is Banco GNB Paraguay SA, an affiliate of Grupo Gilinski.

Write to Pietro Lombardi at [e-mail]; @pietrolombard10

(END) Dow Jones Newswires

01-25-21 0137ET