by Hans Tesselaar, Executive Director at BIAN
Merger and acquisition activity in European retail banking is reviving, with talks beginning between La Caixa, the Catalan savings bank, and its smaller competitor, Banca Cívica. These talks have been described as the ‘second wave of Spanish banking consolidation’, following the acquisition of Unnim, the nationalised savings bank, by BBVA, Spain’s second-largest bank earlier in the month.
Banks are looking to increase efficiency, cut costs and grow market share in this ever-changing market, by merging with, or acquiring, a competitor. The increased rate of M&A activity occurring in the European market goes some way to illustrating the appeal of such a venture.
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