BBVA raises its US bet

February 21, 2007

BBVA (Banco Bilbao Vizcaya Argentaria SA, BBV), the second largest Spanish bank, moved to bulk up its U.S. operations with a $9.6 billion deal to buy Compass Bancshares Inc. (CBSS). This deal is BBVA's largest purchase in the Americas. Other international banks have been buying up US banks on a regular basis. The types and locations of these acquisitions tends to reflect the strategic expansion goals of the buyers.

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