Banco Sabadell has agreed to sell its retail banking unit in Florida to Louisiana-based Iberiabank Corp for $1bn, according to a company statement to Spain's stock market regulator. Banco Sabadell said late on Tuesday it had agreed to sell its Florida-based retail banking unit to Iberiabank Corp for $1 billion, leaving it with corporate and private banking operations in Miami. The deal is expected to close by the end of this year, and will see the bank become part owner of the bank's wholesale business as well as its online brokerage business.
Banco Sabadell has agreed to sell its retail banking unit in Florida to Louisiana-based Iberiabank Corp for $1bn, according to a company statement to Spain's stock market regulator. The deal is expected to close by the end of this year, and will see the bank become part owner of the bank's wholesale business as well as its online brokerage business.