Lloyds offloads Spanish division

Lloyds Banking Group reduced its exposure to struggling Spain today by agreeing to sell its retail banking operations in the country.

Lloyds offloads Spanish division
Mon, 29 Apr, 2013 - 11:31

Lloyds Banking Group reduced its exposure to struggling Spain today by agreeing to sell its retail banking operations in the country.

The loss-making portfolio of mortgages and deposits is to be sold to Banco Sabadell in return for a 1.8% stake in the Spanish bank worth £72m (€85m).

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CourtsBusinessHeathrowPlace: SpainOrganisation: LloydsOrganisation: Lloyds Banking GroupOrganisation: Banco SabadellOrganisation: Co-operative Group
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