By Pietro Lombardi

Banco Santander SA's (SAN.MC) Banco Popular will sell its 49% stake in WiZink Bank to Varde Partners Inc., Santander said on Monday.

Santander also said that it reached an agreement with Varde to recover ownership of Popular's credit and debit card business in Spain and Portugal that was transferred to WiZink in 2014.

The bank didn't disclose financial details of the deals, which are subject to regulatory authorizations and are expected to be completed by the second half of the year.

Banco Popular and Banco Santander Totta are subsidiaries of Santander, which expects a positive impacts on its fully loaded CET 1 ratio from these transactions.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

March 26, 2018 03:29 ET (07:29 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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