BBVA acquires major “direct mailer”
Spanish company Banco Bilbao Vizcaya Argentaria (BBVA) reached an agreement to acquire Laredo National Bancshares, Inc. (LNB), the leading financial services provider for Hispanics in the Texas-Mexico border area. LNB has $3.4 billion in total assets and 110,000 customers. Laredo National Bancshares expects a 2004 loan volume of US $1.3 billion. Its primary origination channels are direct mail and internet.
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