DEALTALK-Mañana? No such thing as Spain hurries caja reform
DEALTALK-Mañana? No such thing as Spain hurries caja reform | Reuters: "Spain's 'cajas' have come a long way in the 200 years since they were set up to help farmers in times of poor harvests, with the biggest transformation of the regional savings banks likely to take place this year.
The Spanish government has stepped up a restructuring of the ailing banks, while the sector's two biggest players have unveiled plans to list on the stock market.
Both factors are certain to accelerate the overhaul of a haphazard ownership structure, replacing a coalition of local and regional government and trade union owners with private shareholders with different goals and expectations.
Investment bankers see increasing momentum for further consolidation of the sector, with Barcelona-based La Caixa seen as the clear front-runner to take over less robust rivals after announcing it would list its banking assets last week.
Spain's Socialist government is desperate to clean-up the sector to restore investor confidence in both the banks and the country as a whole. Spain's sovereign debt crisis and problems for its lenders to access capital markets provided the wake-up call for the government to act."
DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
The Spanish government has stepped up a restructuring of the ailing banks, while the sector's two biggest players have unveiled plans to list on the stock market.
Both factors are certain to accelerate the overhaul of a haphazard ownership structure, replacing a coalition of local and regional government and trade union owners with private shareholders with different goals and expectations.
Investment bankers see increasing momentum for further consolidation of the sector, with Barcelona-based La Caixa seen as the clear front-runner to take over less robust rivals after announcing it would list its banking assets last week.
Spain's Socialist government is desperate to clean-up the sector to restore investor confidence in both the banks and the country as a whole. Spain's sovereign debt crisis and problems for its lenders to access capital markets provided the wake-up call for the government to act."
DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
Comments
Post a Comment