MADRID (Reuters) - The European Central Bank said on Monday it was carrying out an inspection of Banco Popular (MC: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)