Scepticism as Spain’s cajas reveal merger

Four Spanish savings banks announced plans on 25 May 2010 to pool resources and create a joint holding group that would be the country's fifth largest lender.

The announcement by the four cajas de ahorros - unlisted, regional lenders - is the latest in a series of mergers and co-operation agreements promoted by the central bank to restructure the country's financial sector.

Further proposals were announced on 28 May 2010.

ESO: Background information: Spain pushes to restructure savings banks http://www.europeansources.info/record/spain-pushes-to-restructure-savings-banks/

ESO: Background information: Spanish central bank takes control of CajaSur http://www.europeansources.info/record/spanish-central-bank-takes-control-of-cajasur/

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