trending Market Intelligence /marketintelligence/en/news-insights/trending/H4v-pSKlcHYi4MiZpiuMiw2 content esgSubNav
In This List

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

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines

Blog

Making sanctions effective: Key themes for banks


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.