UPDATE 2-BBVA moves some staff out of Madrid in coronavirus contingency plan [Reuters (UK)]
CAIXABANK SA UNSP/ADR (CAIXY)
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Source: Reuters
BBVA moves some staff out of Madrid in coronavirus contingency plan - Reuters 4 Min Read MADRID (Reuters) - Spain’s BBVA ( BBVA.MC ) has moved up to 100 staff from Madrid to a location just outside the city as part of its strategy to cope with the coronavirus outbreak and other Spanish banks, including Bankia, ( BKIA.MC ) plan similar measures, bank officials said. The European Central Bank has asked banks to review their contingency plans and across Europe, lenders are readying out-of-town offices and isolating teams to ensure they can keep trading if the coronavirus spreads in major financial centers. BBVA employs 400 people at its trading floor at its Madrid headquarters. Around a quarter were being transferred as of Thursday to Las Rozas, a suburb 20 kms (12 miles) northwest of the city, a spokesman said. “The measure consists of the relocation of 80-100 people in total to this new room from today,” he said, adding that “all critical functions are replicated on a smaller scale
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