Motley Fool Weighs In on PNC Takeover of BBVA

   

PCI Montgomery Locations

 

BBVA Montgomery Locations

 

  As previously reported here, there are three BBVA branches and an equal number of PNC branches in Montgomery. BBVA will cease to exist, as those branches will be converted to PNC (or closed). The Motley Fool financial website isn't convinced the PNC takeover of BBVA will work:

"This is not your traditional bank acquisition, in the sense that the 35% in cost savings from BBVA is not coming from traditional branch closures -- the two banks have very little overlap. PNC is also planning a large-scale technology integration in which it will put BBVA on the same platforms it is using. So, the integration process and some of the targets PNC has laid out do not look simple by any means.

But there is no reason to suggest that PNC won't be able to achieve its goals."

 

Full Motley Fool story HERE.