Regulator Revokes License of Banco Empresas Montepio that Has Been Agreed to Sell to Rauva .
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3 Articles
The European Central Bank (ECB) decided to revoke the authorisation of Montepio Investimento, subsidiary of Banco Montepio operating under the BEM – Banco Empresas Montepio brand, informed on Tuesday, August 18, the Banco Montepio putting an official end to the attempt to sell the bank to fintech Rauva. According to a statement released by Banco Montepio, the ECB's decision was made under the applicable legislation. It is related to the absence …
After years of dragging on, the sale of Banco Montepio Empresas fell through due to a decision by the European Central Bank. Rauva changed presidents twice during the wait, and Banco Montepio once.
The European Central Bank (ECB) revoked the authorisation of Banco Empresas Montepio (BEM), subsidiary of Banco Montepio, which had been sold since 2023 to Rauva, according to a statement released today.
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