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Banco Santander in process of selling U.S. unit Totalbank: CEO
October 26, 2017 / 11:42 AM / a month ago

Banco Santander in process of selling U.S. unit Totalbank: CEO

MADRID (Reuters) - Banco Santander (SAN.MC) is in the process of selling its U.S. unit Totalbank, Chief Executive Jose Antonio Alvarez said on Thursday.

Jose Antonio Alvarez, CEO of Spain's largest bank Banco Santander, addresses the annual general meeting of shareholders in Santander March 18, 2016. REUTERS/Vincent West

“We are in a process which could end with the sale of the bank,” Alvarez told a news conference in Madrid.

Santander is also considering selling some parts of credit card business Wizink, he added.

Spain’s biggest lender has paid 200 million euros in compensation to mortgage clients of Banco Popular, which it took over in June, Alvarez said.

Reporting by Jesus Aguado, writing by Isla Binnie

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