Just in:  

You are here: Home»Business»Banking & Finance»Spain savings bank Ibercaja to acquire Caja 3

Spain savings bank Ibercaja to acquire Caja 3

ibercajaMADRID: Spanish savings bank Ibercaja Banco will take over peer Banco Grupo Caja 3, formed by the fusion of three savings banks, the two lenders said on Thursday.


The acquisition will go ahead once Caja 3's restructuring plans are approved, the banks said.


Ibercaja needs to beef up its capital by 226 million euros ($293 million) to weather a serious downturn of the economy, according to an independent audit released in September, while Caja 3 had needs of 779 million euros.


An early plan to merge three entities - Ibercaja, Liberbank and Caja 3 - was called off after the audit revealed the potential group had a combined deficit gap of 2.1 billion euros.


Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln