Spain's NCG Banco gains EU approval for revised overhaul plan
BRUSSELS, June 20
BRUSSELS, June 20 (Reuters) - Spanish bailed-out bank NCG Banco secured European Union regulatory approval on Friday for its revised restructuring plan which followed its acquisition by Venezuelan bank Banesco.
NCG Banco received 9 billion euros ($12.27 billion) in aid from Spain and Europe. The European Commission said the latest plan will ensure the Galician lender's long-term viability.
"The Spanish authorities committed to shorten the duration of the restructuring period," the EU state aid regulator said in a statement.
($1 = 0.7336 Euros) (Reporting by Foo Yun Chee)
- Obama makes rare campaign trail appearance, people leave early
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders |
- Obama makes rare campaign trail appearance, some leave early
- Nigeria declared Ebola-free, holds lessons for others |
- U.S. stocks end higher despite drag from IBM