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    CABK   ES0140609019

CAIXABANK, S.A.

(CABK)
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CaixaBank S A : sells Bankia businesses to Global Payments for 277 million euros

07/09/2021 | 04:55am EST
FILE PHOTO: CaixaBank's logo is seen on top of the company's headquarters in Barcelona

MADRID (Reuters) - Spain's largest domestic bank Caixabank said on Friday it agreed to sell two businesses from its recently acquired rival Bankia to Global Payments units for a combined amount of 277 million euros ($328 million).

Caixabank agreed to sell a unit that processes payments for retailers to Comercia Global Payments, a local unit of Global Payments, for 260 million euros.

Caixabank owns a 20% stake in Comercia Global Payments.

The bank also sold a pre-paid card business to Global Payments MoneytoPay for 17 million euros. Caixabank holds a 49% stake in that unit.

The sales will generate a 187 million euro profit, the bank said in a statement.

Caixabank became the country's largest domestic bank in assets in March when it closed its acquisition of smaller rival Bankia.

($1 = 0.8447 euros)

(Reporting by Cristina Galan and Inti Landauro; editing by Jason Neely)


© Reuters 2021
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Analyst Recommendations on CAIXABANK, S.A.
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Financials
Sales 2021 10 251 M 11 700 M 11 700 M
Net income 2021 5 172 M 5 902 M 5 902 M
Net Debt 2021 - - -
P/E ratio 2021 4,39x
Yield 2021 4,61%
Capitalization 23 435 M 26 734 M 26 747 M
Capi. / Sales 2021 2,29x
Capi. / Sales 2022 2,16x
Nbr of Employees 50 980
Free-Float 53,3%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 2,91 €
Average target price 3,07 €
Spread / Average Target 5,33%
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Managers and Directors
Gonzalo Gortázar Rotaeche Chief Executive Officer & Executive Director
Javier Pano Riera Chief Financial Officer
José Ignacio Goirigolzarri Tellaeche Executive Chairman
Luis Javier Blas Agueros COO & Director-Media & Resources
Manuel Galarza Pont Director-Compliance & Control
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