The people’s Bank of Portugal said today, via a statement sent to the Commission of the Market of Values (CNMV), which can be converted into a branch office of Banco Popular Español, after the ratification of a project between the institutions.
"The people’s Bank of Spain, S. A. informs that its Board of Directors and the Banco Popular Español, S. A. approved a draft joint excision partial, cross-border intra-eu Banco Popular, S. A., as a society divided, in favor of Banco Popular Español, S. A., as receiving company", consists in the statement.
according To the same note, the banking activity of the bank in spain will be an integral part of the Banco Popular Español, and the customers will enjoy the service of the Spanish bank in the agencies in Spain.
In September, the group has approved a reduction in the total number of employees about 300 workers in Spain, in the framework of the process of restructuring in which the group is located.
The people’s Bank of Spain is transformed into a society of financial leasing, reconciling the activities of financial leasing and the real estate.
"The cleavage is subject to verification cumulative of certain conditions precedent and approvals, better than described in the draft terms of division, and it is expected to be completed in the last quarter of this year", reported the people’s Bank of Spain.
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