October 14, 2020 |
Chile's Banco Bci said its subsidiary, City National Bank of Florida, spent $62 million in cash to acquire Executive National Bank and expand its business in the US market.
The Santiago-based lender has concluded its second purchase in the US market, following the acquisition of City National Bank in 2015 for $833 million, then the largest single investment by a Chilean company in the United States. The bank got regulatory approval to buy Executive National Bank in September.
Bci said it will me
Chile's third-largest lender spends $62 mln to buy its second bank in Florida