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December 27, 2017updated 08 Jan 2018 8:14am

CaixaBank to buy Banco BPI’s issuing and acquiring businesses

Spanish lender CaixaBank has agreed to acquire the issuing and acquiring businesses of Banco BPI for a total of €113m.

The acquisition of the issuing business was conducted through CaixaBank Payments, a subsidiary of CaixaBank. CaixaBank said that the deal, valued at €53m, will not affect its consolidated balance sheet or its capital ratios.

The acquisition of the acquiring (point of sale) business was conducted through Comercia Global Payments, where CaixaBank holds a 49% stake.The deal, valued at €60m, is expected to have a  positive immaterial impact on the consolidated balance sheet, results, and capital ratios of CaixaBank.

Both the transactions are subject to regulatory nod.

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