News Formal

Spain's Caixabank, Bankia to close merger in coming days, sources say

  • 📰 Reuters
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Spanish banks Bankia and Caixabank are considering a merger to create the biggest lender in Spain with more than $770 billion in total assets

) could close their merger deal to create the biggest lender in Spain with more than 650 billion euros in assets within the next few days, two sources with knowledge of the matter said.

Though the number of lenders in Spain has shrunk to 12 from 55 since the 2008 financial crisis, the COVID-19 pandemic is putting banks under more pressure to consolidate as they set aside costly provisions to cope with the crisis.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Chelsea Flea Market Comes Back to Life on September 12The Chelsea Flea Market, which has been closed since December, is coming back on September 12
Source: TheCut - 🏆 720. / 51 Read more »