ECB says Banco Popular inspection is part of regular program
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A man stands next to the logo of Spain's Banco Popular during the bank's results presentation in Madrid January 30, 2015. REUTERS/Sergio Perez/File Photo
MADRID (Reuters) - The European Central Bank said on Monday it was carrying out an inspection of Banco Popular (NASDAQ: POP) as part of its regular Supervisory Examination Programme. It said the inspection was ongoing and had not concluded.
The Spanish bank is considering a large capital increase or a merger as it seeks to lift the burden of around 37 billion euros ($40.5 billion) of toxic real estate from its balance sheet.
Popular executives this month said the bank was under no pressure from regulators and that its banking business was performing well.
($1 = 0.9147 euros)
(Reporting by Sonya Dowsett; editing by Jason Neely)
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