Grupo Financiero Bital SA was Mexico's fifth-largest bank.
History
Bital was first known as Banco del Atlantico during the 1980s and later was changed to Bital. It was the last Mexican bank[1] whose balance sheet was still struggling from the 1995 Mexican peso crisis.
In 2002, HSBC Holdings PLC agreed to acquire Bital at an agreed price of $1.20 a share, thus Bital was valued at $1.14 Billion.[2]
References
- HSBC Buying Fifth-Largest Bank in Mexico for $1.1 Billion NY Times, retrieved 25 June 2018^
- HSBC to Buy Mexico's Bital In Deal Valued at $1.14 Billion The Wall Street Journal, retrieved 25 June 2018^