All
 

 

Just in:  

You are here: Home»Business»Banking & Finance»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 17,6630.27 1.09
Arrow Nasdaq 5,089.21 0.98
Arrow S&P 2,093.25 1.24
Arrow FTSE 6,555.28 0.77
Arrow DAX 11,173.91 1.06
Arrow CAC-40 4,977.32 1.01
Arrow Nikkei 20,328.89 0.10
Arrow H.Seng 24,503.94 0.62
Arrow Sensex 27,459.23 0.37





New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk



Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln