MUNBMellon United National Bank
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Banco Sabadell (IBEX:SAB), Spain's fourth-largest bank, has said that it has completed the acquisition of Miami-based Mellon United National Bank (MUNB) after obtaining necessary approvals from Federal Reserve Bank of Atlanta and the Bank of Spain, Spain's central bank.
Banco Sabadell has acquired a total USD1,675m in deposits and USD875m in loans (60 percent of the loan book) after selecting the assets to be included in the MUNB deal.
'We are very pleased with this transaction and especially the quality of professionals that make up MUNB, and its excellent relationship with their customers,' he added.