Financial and Banking News
ABC Expands Spanish Network Acquires Dutch Firm
Arab Banking Corporation (ABC) has made some significant acquisitions in Spain through its local subsidiary Banco Atlantico. Atlantico is buying 83% of a small Valencia-based retail bank, Banco de la Exportac ion, from Banco Arabe Espanol (Aresbank). Banco de la Exportac ion was established in 1965, and has 35 branches with end-1984 assets of Ptas.23.1bn ($150mn). At the same time...