In order to strengthen their presence in the Spanish private banking and asset
management market, Dexia, through Dexia Banque Internationale à Luxembourg
(Dexia BIL), and the Spanish bank, Banco Popular Español (BPE):
- are increasing their holdings in the capital of Fortior Holding - Iberagentes
respectively to 40% and 60%
- and created Iberagentes Popular Banca Privada (IPBP), a private, wealth-management
bank, fully owned by the Fortior Holding group.
This operation follows the sale by the two founders of Fortior Holding of their
respective 25% interest. Dexia BIL and Banco Popular each previously owned 25%
of the capital of Fortior Holding.
The bank has received the necessary authorisations to start business.
The newly founded private bank will market its own products, as well as investment
products of the Dexia Group to wealthy clients in Spain.
IPBP will start business with a staff of 180 and 10 branches in Madrid, Zaragoza,
Valencia, Barcelona, Pamplona, Seville, Bilbao, Gandia and Tenerife. Six new
branches are planned so as to achieve optimum geographical coverage in Spain.
Product distribution will be based on an integrated multi-channel approach,
structured around the branch network, a call centre, internet and independent
This transaction will enable the Dexia Group to develop its European private
banking and asset management strategy in partnership with a major local player.
At 31 December 2001, Dexia managed an asset volume of EUR 84.0 billion, with
private banking client assets of 38.2 billion.
Dexia BIL - Guy Bertemes / tel.: (+352) 4590 3879
Banco Popular - Fernando de Soto / tel. : (+34) 91 520 72 32