HR Closing sale of 29,68% CNCB

RNS Number : 2766X

Banco Bilbao Vizcaya Argentaria SA

27 August 2015

 



Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby notifies the following:

RELEVANT EVENT 

Further to the relevant information disclosed by BBVA to the markets on December 23, 2014, and once all the contractual conditions have been met, BBVA announces that it has completed the sale to China CITIC Bank Corporation Limited (CNCB), of its stake of 29.68% in CITIC International Financial Holdings Limited (CIFH), a non-listed subsidiary of CNCB domiciled in Hong Kong. 

The total cash amount received by BBVA in connection with the sale of the above-mentioned stake amounts to 8,162 million HK$, equivalent to approximately 947[1] million Euros.

The estimated impact of this transaction in the profit attributable to the parent company of the BBVA Group will be approximately 7 million Euros. The sale is expected to generate a positive impact on the Common Equity Tier 1 fully loaded ratio of the BBVA Group of approximately 10 basis points[2].

Madrid, August 27, 2015

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[1] This amount has been calculated using the Exchange rate: EUR/HK$= 8.62.

[2] The estimated impact in the consolidated financial statements and in the Common Equity Tier 1 fully loaded ratio is calculated using June 2015 month end information.

 

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