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PNC Is in Advanced Talks to Buy U.S. Arm of Spain’s BBVA

PNC Is in Advanced Talks to Buy U.S. Arm of Spain’s BBVA

PNC Financial Services Group Inc. is in talks to buy the U.S. arm of Spanish lender BBVA, according to people familiar with the matter, in what would

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PNC Financial Services Group Inc. is in talks to buy the U.S. arm of Spanish lender BBVA, according to people familiar with the matter, in what would be one of the largest bank tie-ups since the financial crisis.

A deal, which would likely be valued at more than $10 billion, would create the nation’s fifth largest retail bank, with more than $550 billion of assets and branches up and down the eastern half of the country. BBVA, which in 2007 bought Alabama-based Compass Bancshares, has more than 600 branches and about $100…

This post first appeared on wsj.com

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