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 firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com