Regions

Spanish lender Banco de Sabadell SA on Friday said it has sold its 15.8% stake in Dominican Republic bank Centro Financiero BHD for $156 million. This will give the Spanish bank a net capital gain of around €25.6 million.

Reuters last week reported that Sabadell was in talks to sell its holding in Centro Financiero. The Spanish lender however did not disclose the name of the potential buyer, saying that a final agreement on the stake sale has yet to be reached.

Sabadell also recently sold its 16% stake in Dominican Republic financial conglomerate Grupo BHD and 32% stake in Centro Partner Group. The Spanish bank also exited its 27% holding in Twins Investment Partners and 25% holding in Grupo Financiero Leon, the report said. 

Based on its latest annual report, Sabadell has a total of €161.5 billion assets under management as of 2012. It generated a net income of €1.8 billion and a net profit of €81.8 million during the same year.