BBVA - Banco Bilbao Vizcaya Argentaria
Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) attracts deposits and offers retail, wholesale, and investment banking services. The Bank offers consumer and mortgage loans, private banking, asset management, insurance, mutual funds, and securities brokerage services. It operates in Europe and Latin America.
BBVA
:: Basic Quotes
| Ticker | Price | Dividend | 52-week Performance | MarketCap |
|---|---|---|---|---|
BBVA |
9.63 (2/7/12) | 12mth: $0.63 Yield: 6.56% | Range: $7.02-$13.01 Return from Low: +37.11% | $279.80 Bil |
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BBVA agrees to $5.8 bil Turkish bank deal
The Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) announced Tuesday it would acquire a 24.9% stake in Garanti Bankasi, a top Turkish bank.
BBVA will pay $5.84 billion for the stake, a 10% discount to last week’s average closing price. It will launch a $6.94 billion capital increase to finance the deal
I view this as a positive. BBVA is entering high-growth Turkish market and it complements the Latin American exposure. BBVA is becoming the way to invest in emerging market financials.