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BBVA To Sell Puerto Rico Unit to Oriental Financial for $500 Million

MADRID--Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) said Thursday it has reached an agreement to sell its business in Puerto Rico to Oriental Financial Group Inc. (OFG) for $500 million. The sold business is the seventh biggest in Puerto Rico by deposits, with $5.2 billion in assets and $3.3 billion in deposits, BBVA said in a regulatory filing. San Juan-based Oriental is the fourth-largest bank in Puerto Rico. Write to Christopher Bjork at christopher.bjork@dowjones.com

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