(CercleFinance.com) – BBVA announced on Monday that it planned to invest some 300 million dollars (about 263 million euros) in the neo-Brazilian bank Neon.
The transaction provides for the acquisition of additional shares representing 21.7% of the capital, which will bring its stake to a total of 29.7%, taking into account the investment already made in 2018.
In a press release, the Spanish banking group stresses that beyond the innovative aspect of Neon, this operation will enable it to strengthen its position in the Brazilian market, one of the largest in the world with a population of 210 million. inhabitants.
Created in 2016, Neon is an online bank that has set itself the goal of improving access to financial services for individuals, self-employed entrepreneurs and SMEs.
The company already claims 15 million customer accounts.
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