Spain’s BBVA says it is comfortable with its 49.9% stake in Garanti

FILE PHOTO: Spanish bank BBVA’s Chief Executive Officer Onur Genc speaks during the annual results presentation at the company’s headquarters in Madrid, Spain February 1, 2019. REUTERS/Sergio Perez

MADRID (Reuters) – Spain’s BBVA is comfortable with its current 49.9% stake in its Turkish unit Garanti, a spokesman said on Friday.

Spanish newspaper El Economista said on Friday that the CEO of BBVA, Onur Genc, was in favour of using part of the $11.6 billion proceeds from the sale of its U.S. business to increase its stake in Garanti.

Reporting by Jesús Aguado; Editing by Ingrid Melander

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