The PNC Financial Services Group, an American bank holding company and financial services corporation, completed the acquisition of BBVA USA, a US subsidiary of BBVA, a Spanish multinational financial services company, for $11.6bn. "PNC has recognized the great value of our unique client franchise and of our great team in the US, who will be part of a leading financial services group in the country. The deal enhances our already strong financial position. We will have ample flexibility to profitably deploy capital in our markets strengthening our long-term growth profile and supporting economies in the recovery phase, and to increase distributions to shareholders," Carlos Torres Vila, BBVA Group Executive Chairman.