BNP Paribas acquires Banco Sabadell’s depository banking business

▤ Summary

BNP Paribas Securities Services has agreed to acquire Banco Sabadell’s depositary banking business. The deal covers €22 billion in assets under depositary and is expected to close in Q2 2021, subject to regulatory approval. BNP Paribas says the transaction strengthens its position in Spain and expands its asset servicing footprint. The move is part of its broader strategy to grow in targeted markets across Europe and globally.

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