trending Market Intelligence /marketintelligence/en/news-insights/trending/H4v-pSKlcHYi4MiZpiuMiw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Report: Spain, EC discussing Bankia/Banco Mare Nostrum merger

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Report: Spain, EC discussing Bankia/Banco Mare Nostrum merger

CEO José SevillaÁlvarez said Spain's FROB bank restructuring fund and the European Commissionare in preliminary talks regarding a potential merger between the lender andBanco Mare NostrumSA.

Sevilla said on a first-quarter earnings conference callthat Bankia would study any merger proposal, Reuters reported, noting that thebank is subject to M&A restrictions until June 2017.

FROB owns a 65.03% stake in Banco Mare Nostrum, according toS&P Global Market Intelligence data, while FROB-owned has a 64.69% shareholding in Bankia. The Spanish government has pledged to exitBankia by 2017-end, Reuters noted.

Bankia was formed out of seven Spanish cajas, or savings banks, while Banco MareNostrum is the product of a four-caja merger.