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ECB says Banco Popular inspection is part of regular program

Published 05/15/2017, 04:04 AM
Updated 05/15/2017, 04:10 AM
© Reuters. A man stands next to the logo of Spain's Banco Popular during the bank's results presentation in Madrid
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MADRID (Reuters) - The European Central Bank said on Monday it was carrying out an inspection of Banco Popular (MC:POP) as part of its regular Supervisory Examination Programme. It said the inspection was ongoing and had not concluded.

The Spanish bank is considering a large capital increase or a merger as it seeks to lift the burden of around 37 billion euros ($40.5 billion) of toxic real estate from its balance sheet.

Popular executives this month said the bank was under no pressure from regulators and that its banking business was performing well.

© Reuters. A man stands next to the logo of Spain's Banco Popular during the bank's results presentation in Madrid

($1 = 0.9147 euros)

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