Civic Bank remains true to its vocation of being a pioneer in the complex process of restructuring the financial system. So it was in the first wave of integration, which successfully brought together (and not without difficulty) to Caja Navarra, Cajasol, CajaCanarias and Caja de Burgos and also go public in one of the complex moments (in July, in Greek debacle)? and so intended to be in the second round of mergers, which kicks off with the arrival was marked People’s Party and the Government of Spain, which should be outlined before the end of the first half of 2012.
The 72,000 million euros in assets gathered by Civic Bank over the past two years have now been small, and not only to try to qualify for a leadership position in the domestic financial system, but to operate at street level, in the retail banking sector, where the minimum requirement in 2013 will be 150,000 million in assets.
A Civic Banking, like the rest of SIP emerged in recent years of marriage of the old provincial savings banks, not is another path of integration.
This is recognized from your address, where they add that it is working hard in recent months. Another thing is to know the names of possible suitors or tracks on the steps of approach one another, especially when we are talking about a publicly traded company whose strategic steps, starting conversations and agreements that follow from them, among other operations-may depress the value of its stock and must be promptly reported to the Securities Market Commission (CNMV).
From this absence of official confirmation, in recent months has approached Civic Banking groups of equal size – located one step below the systemic entities considered as Bankia and La Caixa, and whose union would allow it to reach the 150,000 million in assets. So, without precluding an operation with La Caixa (which has also been speculated), there would have conversations with Kutxabank, the bank emerged from the integration of the three Basque boxes (Kutxa, BBK and Vital), which would create the seventh Spanish box;? and now would deepen in a possible agreement in principle with Ibercaja, Aragon entity that is still single and that advantage lies in its capacity as a single entity, by its 46,000 billion in assets and occupy a territory that is not natural Civic Banking.
Both operations, the Basque and Aragonese-third could be linked to groups of boxes, nationalized by the Bank Restructuring Fund (FROB) and now go on sale. KutxaBank would be interested in Unnim CatalunyaCaixa and Ibercaja, the fusion of Catalan boxes at the time, shortly before being nationalized was offered to enter Civic Banking, operation in which there was no further by the statement of accounts presented the SIP? Catalan.
In recent days appears to have gained weight with the box operation of Aragon, who aspire to gain Unnim and 29,000 million in assets (and with all the guarantees of FROB), and thus enter as equals (72,000 million in assets) to the SIP which is Caja de Burgos. With Ibercaja-Unnim, the coveted Civic Banking exceed 150,000 million.
Unnim The sale, which must be closed in February (mid-January to be announced tenders), could be the immediate future of Civic Banking and with it the Box Burgos. Soon you will know.