MADRID -- Banco Central Hispano, one of the largest banks in Spain, said it expects to reduce its branch total by 500 by the end of 1993 and by 1,000 over a longer term.
A spokesman said subsidiary are taking over 30 of the 161 offices relinquished by the bank this year. The group; had 3,485 offices at the end of 1991.
Central Hispano had reported a 7% decline in operating profit for the first half of 1992, but its net income after extraordinary gains rose 1% to $626 million.
Some of those gains came from the creation of a joint insurance holding company with Assicurazioni Generali.