BANK BUYS OTHER BANK IN ONE $ (Rs. 72/-)
BANK BUYS OTHER BANK IN ONE $ (Rs. 72/-)
SPAIN’s largest bank ‘SANTANDER’ will buy it’s rival ‘BANCO POPULAR’ for just $ 1 (INR72).
AS EU authorities declared the lender “failing or likely to fail”, Popular shares prices dropped by more than 50%. BANCO POPULAR was trying to sail for its bad real estate loans.
SANTANDERS rescue of the POPULAR is first of its kind wherein European Central Bank determined that a Eurozone lender is failing.
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Tags: BANCO POPULAR,BANK,European Central Bank,Eurozone,International अन्तराष्ट्रीय,Must Read,SANTANDER,SPAIN's largest bank