BBVA sells its Paraguay unit to Banco GNB Paraguay for $270m.

BBVA, a multinational Spanish banking group based in Madrid and Bilbao, sold its Paraguay unit to Banco GNB Paraguay for $270m. The price is subject to the regular adjustments for these kind of transactions between the signing and closing dates of the transaction. BBVA reiterates its commitment to Latin America and will continue to invest in the region, which is one of the Group’s strategic areas of growth.