The U.S. banking unit of Banco Bilbao Vizcaya Argentaria paid $117 million for the digital banking startup. To date, the company has taken nearly $90 million in goodwill impairment charges related to Simple, a BBVA spokeswoman confirmed to American Banker, which actually would make much more sense in terms of value of simple being USD20-30m
The company disclosed on Feb. 1 that its fourth quarter results included the $60 million charge, but didn’t specify the reason. The Portland Business Journal subsequently reported it was related to Simple. Committed: Despite the writedowns, “BBVA is continuing to invest in Simple," said a spokeswoman for the digital-only unit. Bloomberg News
https://www.americanbanker.com/news/valuing-a-digital-bank-isnt-so-simple
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