The Wall Street Journal and the Financial Times reported that the negotiations could lead to a change of ownership for the Birmingham-based BBVA USA.
According to a brief WSJ report posted on Sunday evening, PNC Financial Services Group Inc. is in talks to buy the US arm of Spanish-based BBVA. The Wall Street Journal report was blamed on “people familiar with the matter.”
The Financial Times published a similar report, saying the-11 billion deal could be announced on Monday.
BBV, called Binko Bilbao Vizcaya Argentina, bought the Birmingham-based company Assbus Ban Nashers in 2007, whose parent company was established in the state in 1964 as the Central Bank and Trust of Companies. The company named it BBV. Compass and later BBVA USA.
When BBVA USA Branding launched in 2019, a new logo will appear on the Daniel Building in Birmingham, the company said. Has 644 branches, of which 89 are in Alabama. In May, BBV USA said it had processed about $ 3.3 billion in epidemiological small business loans in two months.
P.N.C. The financial services group is based in Pittsburgh. PNC is the seventh largest bank in the United States, with assets of 45 455 billion, according to a recent report from personal finance site Bancrete.com. The Financial Times said the deal, if completed, would make PNC the fifth-largest retail bank in the U.S. through assets.
