BNPQY BNP Paribas (QX)

By Cristina Roca

BNP Paribas SA has sold its Spanish private-banking activities to Banca March, but will continue to serve high-net-worth clients with global needs.

Privately-owned Banca March, a Spanish financial group, said late on Wednesday that it has acquired the business for an undisclosed amount. The business has assets under management of about 3.6 billion euros ($4.09 billion).

BNP Paribas plans to remain present in Spain through its wealth-management arm. In line with its strategy, it will hone its focus on serving a more affluent clientele.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

February 17, 2022 02:16 ET (07:16 GMT)

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