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Press Release
The Single Resolution Board adopts resolution decision for Banco Popular
Press releases | 12 December 2017

 

Brussels – 7 June 2017

Today, the Single Resolution Board (SRB) has transferred all shares and capital instruments of Banco Popular Español S.A. (Banco Popular) to Banco Santander S.A (Santander). This means that Banco Popular will operate under normal business conditions as a solvent and liquid member of the Santander Group with immediate effect.

Due to its recent stressed liquidity situation, the European Central Bank (ECB) had decided that Banco Popular was “failing or likely to fail” on 6 June 2017 and notified the SRB accordingly. The SRB and the Spanish National...

Decision documents

PDF | 849.14 KB | Publishing date:
Decision of the Single Resolution Board of 17 March 2020 determining whether compensation needs to be granted to the shareholders and creditors in respect of which the resolution actions concerning Banco Popular Español S.A. have been effected (SRB/EES/2020/52)
PDF | 744.61 KB | Publishing date:
Courtesy translation - Final_decision_ES.pdf
Decisión de la JUR de 17 de marzo 2020 (SRB/EES/2020/52)
PDF | 13.96 MB | Publishing date:
Courtesy translation of Annex I - Valuation 3 Report in Spanish.pdf
PDF | 1.33 MB | Publishing date:
Annex II - Clarification Document of valuation of difference in treatment (Banco Popular Español) 18 December 2019
PDF | 789.39 KB | Publishing date:
Notice of the Single Resolution Board of 2 August 2018 regarding its preliminary decision on whether compensation needs to be granted to the shareholders and creditors in respect of which the resolution actions concerning Banco Popular Español S.A. have been effected and the launching of the right to be heard process (SRB/EES/2018/132)
PDF | 701.01 KB | Publishing date:
Decision of the Single Resolution Board in its Executive Session of 7 June 2017 concerning the adoption of a resolution scheme in respect of Banco Popular Español, S.A., (the "Institution") with a Legal Entity Identifier addressed to FROB (SRB/EES/2017/08)
PDF | 3.4 MB | Publishing date: | Decision date:
Deloitte - Project Hippocrates Appendices (Sale of Business scenario)
Madrid, 06 June 2017
PDF | 454 KB | Publishing date:
Invitation to submit a "Binding Offer" for the acquisition of Banco Popular
PDF | 339.91 KB | Publishing date: | Decision date:
Decision of the Executive Session of the Board of 3 June 2017 concerning the marketing of Banco Popular Español (SRB/EES/2017/06)
PDF | 528.79 KB | Publishing date:
MEMO Regarding the non-confidential version of the documents related to the resolution of Banco Popular
PDF | 39.53 KB | Publishing date: | Decision date:
Subject: Decision on the Marketing of Banco Popular Español
Banco Popular marketing decision cover letter

Directives and regulations related to this decision

BPE latest updates

  • 20 December 2019: Banco Popular ‘right to be heard' process: update (EN /  ES)
  • 2 July 2019: Update on the Banco Popular Español Right To Be Heard Process/ Actualización sobre el Proceso de Derecho de Audiencia relativo a Banco Popular Español (EN/ES)
  • 6 November 2018: Registered shareholders and creditors deemed eligible can submit their written comments until 26 November 2018 (EN, ES)
  • 16 October 2018: SRB announces the next steps in the right to be heard process: Registered shareholders and creditors deemed eligible will be invited to submit their comments from 6 November 2018
  • 7 August 2018: Summary of the SRB Notice published in the Official Journal of the European Union 2018/C 277 I/01
  • 6 August 2018: SRB publishes a non-confidential version of the ‘Valuation 3’ report, as well as its own preparatory act  (‘SRB Notice’) in which it takes a preliminary decision that it does not intend to compensate former shareholders and creditors of BPE based on the conclusions of the report. The SRB now opens the registration for the previously announced ‘Right to be heard’ procedure. The registration phase for the procedure will remain open until 14 September 2018 (12:00 noon, Brussels time).
    • Press release of 6 August 2018 (ENES)
    • SRB Notice (ENES)
    • Annex 1 to the SRB Notice: Non-confidential version of Valuation 3 Report (ENES)
    • Explanatory note on the Valuation 3 Report (ENES)
    • Registration page for ‘Right to be heard’ procedure (ENES)
  • 11 July 2018: the SRB will launch a registration process for the ‘right to be heard’ in early August. 
  • 13 June 2018: Banco Popular Español Resolution: the SRB, having received the final ‘Valuation 3’ report, is preparing the next steps including a dedicated consultation process

On 7 June 2017, the Single Resolution Board (SRB) transferred all shares of Banco Popular Español S.A. (Banco Popular) to Banco Santander S.A (Santander). This means that Banco Popular continued to operate under normal business conditions as a solvent and liquid member of the Santander Group with immediate effect.

Due to its stressed liquidity situation, the European Central Bank (ECB) had decided on 6 June 2017 that Banco Popular was “failing or likely to fail” and notified the SRB accordingly. The SRB and the Spanish National Resolution Authority – FROB – decided that the sale was in the public interest as it protects all depositors of Banco Popular and ensures financial stability. The resolution scheme entered into force on the same day, following the endorsement by the European Commission.