Bloomberg News

NCG Banco to Seek 6 Billion Euros in State Aid, Chairman Says

July 12, 2012

NCG Banco, a Spanish lender, will seek 6 billion euros ($7.32 billion) in state aid to bolster its balance sheet.

NCG’s Chairman Jose Maria Castellano gave the amount of the bank’s request for government support at a news conference in Santiago de Compostela, Spain today. An official for the La Coruna, Spain-based lender confirmed his remarks in a phone interview today.

To contact the reporter on this story: Charles Penty in Madrid at cpenty@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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