CaixaBank and Bankia confirm the merger to become Spain’s largest lender

CaixaBank, Spain’s third largest bank by assets, has confirmed the takeover of Bankia, the country’s fifth largest bank by assets.

Together, the two will hold assets of more than 650 billion euros. The merged company will be Spain’s largest lender by market share in both domestic loans and deposits.

For each Bankia share, CaixaBank will convert 0.6845 newly issued shares

However, the extensive overseas activities of Santander and BBVA will not be completed yet – currently …

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