Post by account_disabled on Jan 17, 2024 4:30:58 GMT
The announced merger between CaixaBank and Bankia , still pending the Boards of Directors of both deciding to go ahead with it, would give rise to a giant with nearly 6,500 offices spread throughout Spain, above the slightly more than 6,300 that its two main competitors, Santander and BBVA. Although there was initially speculation that the councils would meet this weekend, sources familiar with the process assure that the meetings will take place towards the middle of next week. Once the respective audits of the opponents have been carried out, the general conditions of the operation must also be established, including the thorny issue of the exchange equation (proportion in which the shares of one entity will be exchanged for those of the other).
If the operation is closed, the 4,201 CaixaBank offices - at the end of December 2019 according to data from the Spanish Confederation of Savings Banks (CECA) - and the 2,267 Bankia offices - data provided by the entity itself - total 6,468 branches. BBVA has, as stated on its website, 3,133 branches, while Santander had 3,202 at the end of 2019, according to the financial statements of the Spanish Banking Whatsapp Number List Association (AEB), meaning the sum of both (6,335) does not reaches 6,468 from “CaixaBankia”. These will not be the resulting figures if the merger actually materializes, since it is foreseeable that a decision will be made to close some of them. Different estimates place the number of branches that would disappear at around a thousand. COMMUNITIES WITH MORE BRANCHES However, this numerical superiority is not equally overwhelming in all the autonomous communities, due to the unequal implementation of each entity in the different regions.
This is largely due to the fact that each bank has been built through the merger, absorption or purchase of other entities. In the three regions where there are the greatest number of branches ( Andalusia, Catalonia and Madrid ), the entity resulting from the merger would beat the sum of its competitors. In Andalusia, the 744 branches of CaixaBank and the 318 of Bankia (a total of 1,062) exceed the 384 of BBVA and the 482 of Santander, which add up to 866. The same occurs in Catalonia, where CaixaBank now has 1,054 branches, which They almost exceed the 1,090 that add up to the 656 from BBVA and the 434 from Santander; In Madrid, it is Bankia that takes the first position with 629, something logical if you take into account that one of the savings banks that gave rise to the entity was Caja Madrid. Together with the 414 of CaixaBank they add up to 1,044, above the 1,035 managed by Santander (568) and BBVA (467). The other autonomous communities where the sum of CaixaBank and Bankia exceeds that of Santander and BBVA are the Balearic Islands, the Canary Islands, Castilla La Mancha, La Rioja, Murcia, Navarra and the Valencian Community.
If the operation is closed, the 4,201 CaixaBank offices - at the end of December 2019 according to data from the Spanish Confederation of Savings Banks (CECA) - and the 2,267 Bankia offices - data provided by the entity itself - total 6,468 branches. BBVA has, as stated on its website, 3,133 branches, while Santander had 3,202 at the end of 2019, according to the financial statements of the Spanish Banking Whatsapp Number List Association (AEB), meaning the sum of both (6,335) does not reaches 6,468 from “CaixaBankia”. These will not be the resulting figures if the merger actually materializes, since it is foreseeable that a decision will be made to close some of them. Different estimates place the number of branches that would disappear at around a thousand. COMMUNITIES WITH MORE BRANCHES However, this numerical superiority is not equally overwhelming in all the autonomous communities, due to the unequal implementation of each entity in the different regions.
This is largely due to the fact that each bank has been built through the merger, absorption or purchase of other entities. In the three regions where there are the greatest number of branches ( Andalusia, Catalonia and Madrid ), the entity resulting from the merger would beat the sum of its competitors. In Andalusia, the 744 branches of CaixaBank and the 318 of Bankia (a total of 1,062) exceed the 384 of BBVA and the 482 of Santander, which add up to 866. The same occurs in Catalonia, where CaixaBank now has 1,054 branches, which They almost exceed the 1,090 that add up to the 656 from BBVA and the 434 from Santander; In Madrid, it is Bankia that takes the first position with 629, something logical if you take into account that one of the savings banks that gave rise to the entity was Caja Madrid. Together with the 414 of CaixaBank they add up to 1,044, above the 1,035 managed by Santander (568) and BBVA (467). The other autonomous communities where the sum of CaixaBank and Bankia exceeds that of Santander and BBVA are the Balearic Islands, the Canary Islands, Castilla La Mancha, La Rioja, Murcia, Navarra and the Valencian Community.