Banco Popular’s management team, chairman Saracho and his CEO, Sanchez Asiain, will meet with the ECB tomorrow, according the economic press. It doesn’t seem as if there is any urgency behind the meeting, but rather that it is part of a routine monitoring process, aimed at analysing the bank’s current situation and options.
banco popular stock price
Popular’s share price is very volatile and is up around 8% from its year lows, amid rumours that the only option for the troubled bank is to merge with another bigger lender.
It will be difficult for Banco Popular’s shareholders to forget the date May 26th. The bank’s share price plummeted over 26%, the biggest fall in its history, after it announced plans for a 2.5 billion euros capital increase. It will also temporarily suspend paying a dividend.