REUTERS: Banco Santander said on Monday it had agreed to sell Santander Bancorp, the Spanish lender's retail and commercial banking franchise in Puerto Rico, to FirstBank Puerto Rico in a deal valued at US$1.1 billion.
The deal includes Santander's 27 bank branches on the island and total assets of US$6.2 billion, the companies said.First BanCorp , the bank holding company of FirstBank Puerto Rico, said its 2020 consensus earnings of 81 cents per share are now expected to get a boost by 35per cent.
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