BBVA has agreed to sell its 29.68% in Citic International Financial Holdings Ltd. (CIFH) for about €845 million to China CITIC Bank Corporation Limited (CNCB). This deal improves the BBVA Group's fully-loaded Common Equity Tier 1 capital position by around 20 basis points, equal to generating over €700 million in capital. The sale does not change BBVA's stake in CNCB. 

BBVA has reached an agreement to sell 29.68% of CIFH, the unlisted unit of CNCB located in Hong Kong, to CNCB. With this deal, CNCB will now control 100% of CIFH. The transaction will improve BBVA's fully loaded Common Equity Tier 1 capital position by 20 basis points. The deal will not modify BBVA's stake in CNCB.

BBVA has agreed to sell its stake for about €845 million. The deal is slated to be closed by the second quarter of 2015, after the pertinent authorizations have been obtained. This deal will have a negative impact of around €25 million on BBVA's results.

BBVA's Wholesale Banking business in Asia is mainly conducted through the BBVA Group's office in Hong Kong. Furthermore, BBVA has branch offices in Tokyo, Singapore, Seoul and Taipei; and representative offices in Beijing, Shanghai, Mumbai and Sydney.  

Contact details:  
Corporate Communication
Tel. +34 91 537 67 51
comunicacion.corporativa@bbva.com

For more financial information about BBVA visit:
http://shareholdersandinvestors.bbva.com

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.

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