According to a statement sent to Lusa, Bankinter had now received all due authorisations necessary for the acquisition of the retail, private and corporate banking operations for the small and medium-sized company sector that Barclays held in Portugal.
Barclays retains its BarclayCard operation and its investment bank, catering for international corporations operating in Portugal, with Bankinter acquiring the remainder.
Bankinter Seguros de Vida, a company held jointly and equally by Bankinter and Mapfre, has completed the purchase of the Barclays life insurance and pensions business in Portugal for €75 million.
The statement quotes Bankinter Executive President Maria Dolores Dancausa, who described the deal as an “excellent platform to accelerate its internationalisation and take advantage of the growth opportunities offered by the Portuguese market.”