Spain's biggest bank, Santander Central Hispano, plans to sell all its property assets in the country, except its headquarters, for an estimated  4.0 billion euros ($5.3 billion), according to a report published in Spanish daily El Pais.   "This is a financial operation," a spokeswoman told AFP, confirming a report in daily newspaper El Pais.

  The sale of 44 large buildings across Spain could net Santander 1.4 billion euro in capital gains, which would help it finance its participation in a Royal Bank of Scotland-led bid for Dutch bank ABN Amro, the paper said.

  But the spokeswoman said the operation would take place "independently" of any financing requirements for the ABN Amro bid.

  Santander's planned sale of its offices comes amid worries that Spain's decade-long property boom may be headed for a sharp downturn, which have pushed shares of Spanish real estate firms lower.

  The bank, based in the port city of Santander on Spain's northern coast, plans to lease back the properties that will be sold and it will have the option to buy them back in the future, the spokeswoman said.

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