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Post Acquisition Due Diligence

Client:

International Financial Services Co

Division:

Entire Commercial Bank

Contact:

Regional Group Head

Major Functions:

Distribution System, Facilities, Operations, Revenue Production, Product Capabilities, Peer Group Position

Situation

A major International Financial Services Co. purchased this failed Spanish Government Bank as an opening into the Spanish Financial Services Industry. After closing the deal, the Regional Group Head asked The LoBue Group to perform a due diligence on the Bank and recommend how to leverage the opportunity.

LoBue Recommendation

LoBue conducted a detailed financial and operational assessment to determine the current and potential value of the acquisition. Immediate opportunities and long-term opportunities were identified and a plan was developed to capitalize on the bank’s strengths.

  • Create central operations and service functions for all activities.
  • Turn branches into Consumer sales offices.
  • De-emphasise Commercial activities which were non-competitive.
  • Leverage and adopt the parent’s consumer platform and product set to the local market.
  • Review the owned real estate locations for possible sale of “historic” facilities.
  • Freeze hiring and re-train excess staff for consumer functions.

Real Results

  • The Bank was successfully turned into a profitable Consumer Bank.
  • Existing parent company products were modified and implemented in the Spanish market within 6 months.
  • Staff was gradually reduced by 30% through freeze on hiring and re-training.
  • One “Historic” facility was sold and the proceeds recouped the purchase price of the Bank.

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