ECB says Spain's Popular likely to fail, will be bought by Santander [Reuters]
Banco Santander, S.A. Sponsored ADR (Spain) (SAN)
US:NYSE Investor Relations:
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Source: Reuters
FILE PHOTO: A woman leaves a Banco Popular branch in Madrid, Spain, June 6, 2017. REUTERS/Juan Medina FRANKFURT Spain's Banco Popular ( POP.MC ) is running out of cash and is likely to fail, the European Central Bank said on Wednesday, adding the rescue plan for the bank will involve its acquisition by larger peer Banco Santander ( SAN.MC ). "On 6 June, the European Central Bank (ECB) determined that Banco Popular Español S.A. was failing or likely to fail," the ECB said in a statement. "The significant deterioration of the liquidity situation of the bank in recent days led to a determination that the entity would have, in the near future, been unable to pay its debts or other liabilities as they fell due." "Consequently, the ECB ... informed the Single Resolution Board (SRB), which adopted a resolution scheme entailing the sale of Banco Pop
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SAN
Earnings
- 2/1/24 - Miss
SAN
Sec Filings
- 4/18/24 - Form 6-K
- 4/11/24 - Form 6-K
- 4/5/24 - Form SBSE-A/A
- SAN's page on the SEC website