Post by account_disabled on Jan 17, 2024 0:04:18 GMT -4
The merger between CaixaBank and Bankia will open the door to new operations of this type in the Spanish banking sector, experts agree, who do not rule out Banco Santander or BBVA participating in the banking consolidation process or other smaller ones such as Liberbank or Abanca . With 664,027 million euros in assets and 51,536 employees, the bank that emerges from the aforementioned merger - which will maintain the name CaixaBank - will be the tenth in Europe and the first in Spain, ahead of Santander and BBVA, and will once again fuel the debate on banking concentration in smaller entities, such as Banco Sabadell. This is the opinion of the head of Sovereign Ratings and Financial Institutions at Axesor Rating, Antonio Madera , who states that with the merger by absorption of Bankia by Caixabank " a new round of banking consolidation is given the starting signal .
However, Madera points out that the operation highlights the need to promote regulation that limits the risk to the rest of the economic system. Along the same lines, Bolsanow analyst, José Luis Herrera , considers that the approval of regulators and governments for this operation represents an "extra incentive" for new mergers or absorptions to occur. "Possibly we will once again see other candidates like Whatsapp Number List Sabadell, which is in the pools, or even that many-times announced merger between Liberbank and Unicaja as medium-sized banks ," says Herrera, who remembers how the merger of Argentaria with the then BBV was the beginning of a wave of banking unions. "It is possible that yes, that the spigot of these new mergers has been opened ," reiterates Herrera, an extreme in which the director of Variable Income at ATL Capital, Ignacio Cantos , also agrees, considering it the first merger " of the second round. " of concentrations in the Spanish banking sector.
Cantos highlights the "defensive nature" that the merger has for the entities, which gain profitability "based on the only thing they have always achieved in general, which is to reduce expenses, staff and branches." Likewise, he highlights the attractiveness of Bankia, due to its good capitalization after the rescue and its branch network, and calculates synergies of 770 million euros that "are easily achievable ", although there will be " cross sales" . Regarding these synergies, Esade banking mergers and acquisitions expert Santiago Mínguez explains that they involve the elimination of branches and are " relatively easy to carry out", while the negative goodwill "will help offset losses due to insolvencies. As the main difficulty for the implementation of integration, he highlights " the cultural differences" between both entities.
However, Madera points out that the operation highlights the need to promote regulation that limits the risk to the rest of the economic system. Along the same lines, Bolsanow analyst, José Luis Herrera , considers that the approval of regulators and governments for this operation represents an "extra incentive" for new mergers or absorptions to occur. "Possibly we will once again see other candidates like Whatsapp Number List Sabadell, which is in the pools, or even that many-times announced merger between Liberbank and Unicaja as medium-sized banks ," says Herrera, who remembers how the merger of Argentaria with the then BBV was the beginning of a wave of banking unions. "It is possible that yes, that the spigot of these new mergers has been opened ," reiterates Herrera, an extreme in which the director of Variable Income at ATL Capital, Ignacio Cantos , also agrees, considering it the first merger " of the second round. " of concentrations in the Spanish banking sector.
Cantos highlights the "defensive nature" that the merger has for the entities, which gain profitability "based on the only thing they have always achieved in general, which is to reduce expenses, staff and branches." Likewise, he highlights the attractiveness of Bankia, due to its good capitalization after the rescue and its branch network, and calculates synergies of 770 million euros that "are easily achievable ", although there will be " cross sales" . Regarding these synergies, Esade banking mergers and acquisitions expert Santiago Mínguez explains that they involve the elimination of branches and are " relatively easy to carry out", while the negative goodwill "will help offset losses due to insolvencies. As the main difficulty for the implementation of integration, he highlights " the cultural differences" between both entities.