Sale of Colombian unit to Chilean group Corpbanca

RNS Number : 0408G

Banco Santander S.A.

25 June 2012

 

MATERIAL FACT

Santander Group reports that it has completed the second phase of the sale of Banco Santander Colombia and its other subsidiaries in Colombia announced on 6 December 2011. The Group has received USD 605 million (approximately EUR 484 million) in this second phase and a total of USD 1,229 million (approximately EUR 983 million) in the transaction as a whole.

As previously announced, the transaction as a whole generates a capital gain for the Santander Group of EUR 620 million that will allow provisions of approximately EUR 900 million, which will be used to partially cover the additional provisioning of real estate assets that must be satisfied by the end of 2012.

Boadilla del Monte (Madrid), 25 June 2012

 

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