BSCH -BANCO SANTANDER CENTRAL HISPANO- (Spain) has bought 97% of Brazil's GRUPO FINANCEIRO MERIDIONAL, made up of BM -BANCO MERIDIONAL- and BBS -BANCO BOZANO SIMONSEN- for an undisclosed amount, but estimated at 1.3 billion reals. The two banks occupy a key position in the State of Rio Grande de Sul with assets of USD 4.9 billion, more than 800,000 clients, 221 branches, a workforce of 3,781 and turnover of USD 3.2 billion.