The Spanish banking giant BBVA, which purchased Catalunya Banc last July, is now proposing to shut down 400 branches of the acquired bank and reduce its staff by 2,000 employees (out of a total of 4,400 currently employed), according to trade...
BBVA CEO, Angel Cano, announced on Wednesday a 3-year plan to restructure the bank's presence in Catalonia after the integration of the previously nationally-owned Catalunya Banc, which was purchased last July. The bank's 'number 2' explained...
BBVA will pay €1.187 billion to the Fund for Orderly Bank Restructuring (FROB) for the nationalised Catalan bank, beating the other two offers in the final phase of the auction process presented by Santander and Barcelona-based...
The Bank of Spain has decided to allocate the Catalan Unnim Banc to the BBVA. With the operation, the BBVA will become Spain’s largest bank, ahead of Banco Santander when considering asset volume. The BBVA will pay €1 for Unnim and €300...
After not having found the needed private investors to meet the required levels of core capital, the Bank of Spain’s Governor announced that the Spanish State would intervene in four savings banks, including two from Catalonia. The State will...
Unnim’s profit is 8.7% inferior to the same period last year. The savings bank says the decrease is due to of the merger costs and the general economic situation. Unnim is the result of a merger announced last summer between three Catalan...
Unnim and CatalunyaCaixa would have 4.5% and 4.8% of core capital respectively. However, the provisions that all Spanish banks must have to face difficult times have not been taken into account as they did not exist in other European banking...
A Barcelona-based newspaper announced in its Tuesday edition that the two Catalan savings banks would see a state intervention and would be nationalised by the Spanish Government and the Bank of Spain this summer. CatalunyaCaixa has denied the...
All the Catalan savings banks are in the process of becoming regular banks. In the last 6 days, all the savings banks have been defining their future and they are all going in the same direction: transforming their structures into those of a...
