BP2S to acquire Sabadell’s Spanish depositary banking unit

BNP Paribas has agreed to buy the depositary banking business of Banco de Sabadell in Spain. BNPP will pay EUR115m (USD127m) for the unit, which has assets of EUR22bn. Last year BNPP agreed to buy MAPFRE’s Spanish depositary services unit, and in 2014 it acquired Banco Popular’s depositary business in Spain.

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