Manuel Moreno Capa | “The concentration of entities is a mantra of the ECB and the EBA. For me it is not evident that the reduction of costs -slow and expensive- is going to make profitability appear where there is none. Caixabank and Bankia are the outcome of several large mergers and takeovers from the 2009 round. Therefore they have not overcome their difficulties,” said Santiago Fernández Valbuena, president of Aedas Homes, vice-president of EBN Bank and director of Ferrovial.
europe banking concentration
It seems we have a consensus: Europe is overbanked. Zombie banks need to be allowed to fail and the process of mergers needs to be strengthened, particularly cross-border. But the US model is more of an exception than the rule and there are countries, like Spain, where the consolidation could start to be excessive.