{"id":3080,"date":"2020-09-24T14:54:23","date_gmt":"2020-09-24T11:54:23","guid":{"rendered":"http:\/\/www.liberalglobe.com\/?p=3080"},"modified":"2020-09-24T14:54:25","modified_gmt":"2020-09-24T11:54:25","slug":"merger-between-caixa-bank-and-bankia-creates-spains-largest-bank","status":"publish","type":"post","link":"https:\/\/www.liberalglobe.com\/?p=3080","title":{"rendered":"Merger between Caixa Bank and Bankia creates Spain’s largest bank"},"content":{"rendered":"\n

The Boards Caixa of Directors of Caixa Bank and the state-owned bank Bankia respectively approved the merger plan between the two banks that would create Spain’s largest bank.<\/p>\n\n\n\n

The new bank created will have a stock market value of \u20ac17bn. It will retain Caixa bank’s brand name and will hold assets of more than \u20ac665bn.<\/p>\n\n\n\n

The General Meetings of shareholders of both banks are expected to approve the deal.<\/p>\n\n\n\n

\"Spain
Photo by the website www.ft.com <\/figcaption><\/figure><\/div>\n\n\n\n

Due to the increasing pressure on banking schemes in the EU and as a result of the growing recession caused by the covid-19 pandemic, it forces banks to move between mergers to cope with competition from a better position in the post-Covid-19 era.<\/p>\n\n\n\n

The new banking scheme is expected to present CET1 ratio of 11,6%. The CET1 ratio indicates the capital strength of a bank. <\/p>\n\n\n\n

Following the merger, the new banking scheme will proceed with a full operational upgrade with the aim of drastically reducing operating costs and eliminating any additional activities that the two banks had until yesterday to achieve economies of scale.<\/p>\n\n\n\n

This restructuring and drastic reduction in operating costs will result from the massive voluntary exits and redundancies of staff respectively and from the drastic reduction of non-performing loans.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Boards Caixa of Directors of Caixa Bank and the state-owned bank Bankia respectively approved the merger plan between the two banks that would…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[620,946],"tags":[1952,1951,1950,1787,711],"class_list":["post-3080","post","type-post","status-publish","format-standard","hentry","category-business","category-companies","tag-bankia","tag-caixa-bank","tag-mergers","tag-mergers-acquisitions","tag-mergers-of-european-banks"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/3080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3080"}],"version-history":[{"count":2,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/3080\/revisions"}],"predecessor-version":[{"id":3085,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/3080\/revisions\/3085"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}