Banco Bilbao Vizcaya Argentaria has sold its Brazilian affiliate BBV Banco to Banco Bradesco, S.A. for Brazilian reais 2 billion in cash plus 4.5% of Bradesco’s share capital. The Spanish bank had already amortized the $491 million in goodwill generated in its Brazilian investments. The remaining loss on the transaction has already been charged against reserves as a result of the depreciation of the Brazilian real since BBVA’s initial investment in 1998. Ratings agency Standard & Poor’s said the sale ‘effectively diminished the downward pressure on the bank’s ratings’. The bank’s negative outlook continues to reflect, however, BBVA’s exposure to heightened economic risk in Latin America.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more