merger

With this operation, the Catalan Banc Sabadell becomes Spain’s fifth largest banking group. The Bank of Spain has decided to accept Banc Sabadell’s offer to purchase the CAM, a savings bank that was rescued and restructured. Banc Sabadell buys CAM after the savings bank completed a €5.25 billion regularisation process to balance its books. Banc Sabadell will take on 20% of the expected losses over the next ten years from CAM’s real estate properties.

Barcelona-based CaixaBank, the private bank of ‘La Caixa’, will pay 16 million euros for the purchase of both businesses. Bankpime is a bank for small and medium-sized companies. CaixaBank will control a total volume of 1,200 million euros. CaixaBank will buy Bankpime’s credit investment portfolio -which is worth 363 million euros-, the fund management business –with some 400 million euros traded, the 19 branches of the bank, and client deposits worth some 436 million euros.

A Barcelona-based newspaper announced in its Tuesday edition that the two Catalan savings banks would see a state intervention and would be nationalised by the Spanish Government and the Bank of Spain this summer. CatalunyaCaixa has denied the claims. Unnim also denied the rumours and reminded the press of the 30th September deadline set by the Bank of Spain to restructure its business and find additional capital.

All the Catalan savings banks are in the process of becoming regular banks. In the last 6 days, all the savings banks have been defining their future and they are all going in the same direction: transforming their structures into those of a regular bank. The first stage was the merging process that took place before summertime and now, with the new banking rules at international, European and Spanish level, savings banks are finding it easier to continue operating as regular banks. The old model is thus finished.

The chairman of BAA Angela Knight urged savings banks to reconsider their strategy and find diverse ways to finance themselves. The insisted that narrowing the market to a single territory is increasing their exposure to the economic context.

The new savings bank group will be called Mare Nostrum and it will be the 4th in Spain. The 4 savings banks will keep their brand and sum up more than 4 million clients.

The Catalan financial entity approves 'cold merger' with 6 other Spanish savings banks in a move expected to create 'positive' results for Catalonia. The new savings banks will keep the brands of the 7 merging entities. The project is lead by Caja Madrid, which was Spain’s second savings bank after the Catalan La Caixa

Today the new name and image of the second Catalan savings bank as a result of the Caixa Catalunya, Caixa Tarragona and Caixa Manresa merger was presented. CatalunyaCaixa will be the new brand, which has been decided upon after negotiations and strategic studies. CatalunyaCaixa has not yet decided if it will look for more capital.

In July, more than 1.1 million passengers travelled with the low-cost airline, which represents a significant increase since the company merged with Clickair

Three Catalan saving banks have merged into a single lender that will close up to 395 branches around Spain. The result of the merger is still without a name.

The largest financial institution in Catalonia and the largest savings bank in Europe, La Caixa, agreed to merge with Caixa Girona. Yesterday evening, La Caixa?s board approved the merger with the medium sized Girona savings bank.

The Catalan savings bank Caixa Laietana has finally decided to participate in the merger led by Caja Madrid. This merger would allow all the savings banks to keep their names as separate brands.

The first Catalan private bank is coming to an agreement to merge with Banco Guipuzcoano, from the Basque Country. Banc Sabadell would absorb the Basque bank through an exchange of actions. If the merging comes to an end, it will be the first merging of 2

Catalan savings banks continue to restructure