Spain: Consolidation of banking sector drags on with new merger consideration

Spain is reportedly considering merging two nationalized bankers in a move that intends to lessen taxpayers’ burden, say three sources. While no decision has been finalized, banks Bankia and Catalunya Banc could be joined as Catalunya failed to find a suitable buyer. According to reports, the move is likely a sign of a struggling government that refuses to take control of the lenders without additional public aid. Consolidation in Spain’s banking sector continues as the market used to hold 40 banks, a number now cut in half.

 

Full Content: Reuters

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