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Caixa Geral launches disposal process for Spanish, South African, Brazilian ops

Caixa Geral de Depósitos SA launched the final process of the off-loading of its operations in South Africa, Spain and Brazil, as a part of its strategic plan aimed at strengthening its capital level.

The process involves the disposal of the Portuguese bank's stake in South Africa-based Mercantile Bank Holdings Ltd., Spain-based Banco Caixa Geral SA and Brazil-based Banco Caixa Geral Brasil SA through a direct sale to one or more investors of all or part of the shares held.

The sales do not imply an end of its presence in these markets, and the bank will continue or even increase its operations through partnerships and operational relationships, or through various relational platforms, the bank said in a Dec. 21 statement. The ongoing support to its existing customers and the Portuguese communities in these markets will be considered in the conditions of sale.

Meanwhile, the bank said the ECB will require it to maintain a phased-in common equity Tier 1 ratio of 8.875% and a fully loaded ratio of 10.250% from Jan. 1, 2018, under its Supervisory Review and Evaluation Process. The bank had phased-in and fully loaded CET1 ratios of 13.0% and 12.7% as of Sept. 30.