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All the members of the board who belonged to the Spanish group as well as the main directors of BBVA Chile resigned.
He closed the stock market and closed the public share purchase offer for minority shareholders. BBVA Chile in connection with the acquisition of the bank by Scotiabank, after Canadians spent 2.2 billion US dollars for 68.19% of the property of the company controlled by the Spaniards .
With this step, the BBVA group says goodbye to Chile at least as far as the banking sector is concerned. By a press release, the entity said that it will record, in its accounts for the third quarter of 2018, a net capital gain of approximately 640 million euros and 50 basis points more in its capital ratio CET1 "full-loaded". 19659003] Once the transaction was completed, the Canadians took control and the symbol is that Scotiabank has informed the board of directors of this bank – BBBA Chile – of the resignation of the five directors representing the group Spanish Ignacio Lacasta, Iñigo Echebarría and José Manuel García, José San Blas and Juan María Arrien
In replacement were named Ignacio Deschamps, Andrés Cruells, Ernesto Viola, Claudio Hernandez and Felipe Montt.
In addition to the resignations of the board, the departure of the general manager was added from BBVA Chile, Manuel Olivares; the Director of Corporate Banking and Global Markets, Fernando Pardo; the director of the prosecutor's office, Rony Jara; Director of Human Resources Marcos Balmaceda; the director of finance, Rafael Varela; and the director of the division's audit, Jordi Barja.
From Scotiabank's offices in downtown Santiago, they move to the Parque Titanium complex to take up the general management of the Canadian company exBBVA Chile: Fernando Saénz. Maria Victoria Doberti also joins the finance department; in Human Resources will be Jacqueline Balbontín; Rafael Bilbao to the lawyer and Ricardo Fry to the audit
For its part, another group of BBVA Chile executives remains, at least for the moment. This is Paulina De Las Heras, Head of People Banking; Andrés Velasco, Director of Business Banking; Alberto Oviedo, risk manager, and Antonio Benvenuto, director of engineering, to form the executive committee of BBVA Chile until the legal integration of the two entities.
In the essential fact delivered to the Commission for the financial market, Canadians, who are about to challenge the third position of the private bank after this acquisition, indicated that their intention to merge the two entities is that 39 it is "as soon as possible according to Chilean regulations and legislation."
The document submitted to the regulatory body reaffirms that the Said group – which holds 31.62% of the property of BBVA Chile – will appoint four directors and one of them will have the position chairman of the proceeding.
In this line, Scotiabank confirms that the family clan will have about 25% of the merged bank's interest. However, sources consulted indicate that the final percentage with which Said will remain in the banking sector would not be formalized, which would be materialized quickly.
And with the current participation of Said in BBVA Chile, According to Scotiabank, the rate of interest for the regulator is from 15% to 17%
It should be remembered that on Monday will be held the shareholders' meeting of BBVA Chile, which will momentarily call 'Scotiabank Azul'.
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