The deal “considerably accelerates PNC’s nationwide growth technique,” PNC stated in a press release.
BBVA’s US subsidiary has over $100 billion in property, and operates greater than 630 branches in seven US states.
PNC stated the deal would give it “a coast-to-coast franchise with a presence in 29 of the 30 largest markets within the US.”
The deal is all-cash. It is anticipated to shut in mid-2021 pending regulatory approval.
— It is a growing story that will likely be up to date.