SPANISH SMALL & MID CAPS

Merger in sight in Spanish banking sector: Unicaja and Liberbank could create the sixth largest entity for assets

Merger In Sight In Spanish Banking Sector: Unicaja And Liberbank To Create The Sixth Largest Entity For Assets

Unicaja Banco and Liberbank have acknowledged this Wednesday preliminary contacts for a possible corporate operation without, for now, having taken any decision. If the operation is carried out, the resulting bank would be the sixth largest in assets overtaking Bankinter and could achieve cost synergies of around 200 million euros (50% of the base costs of Liberbank in 2018).

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