In mid-July, the Bank of Spain designated the Basque savings bank BBK to take over Cajasur, another savings bank established in the region of Cordoba faced with serious financial difficulties. more...
Restructuring of Spanish savings banks (2)
Spain – Jul 2010
The proposed merger of four other savings banks: Caja Mediterraneo (CAM), Asturiana Cajastur, Caja Cantabria and Caja Extremadura, which would have led to the creation of the third largest savings bank groups and the fourth largest bank in Spain, could be called into question because of the reservations of CAM. more...
General Electric wants to reduce the scope of GE Capital’s activities in Latin America
USA, Colombia – Jul 2010
In a deal valued as 1.9 billion dollars, General Electric is planning to sell to the Colombian bank Grupo Aval its banking subsidiary, BAC Credomatic, which is established in Mexico and Central America and has around 5.1 billion dollars of assets and 5.5 billion dollars of deposits. more...
Planned consolidation in the Greek banking sector
Greece – Jul 2010
Piraeus Bank announced in mid-July its intention to purchase from the Greek State the latter’s participating interests in two other banks: Agricultural Bank of Greece (77.3%) and the post office bank Hellenic Postbank (33%). If the planned mergers go ahead Piraeus Bank will become the biggest Greek bank, with a loan portfolio of 69 billion euros and 64 billion euros of deposits. more...
Buying insurance via automatic ticket machines in Spain
Spain – Jul 2010
Mapfre and Caja Madrid are now offering air travellers the possibility to buy last-minute travel insurance from automatic ticket machines at Madrid airport. The insurance options include lost luggage, medical assistance and compensation for missed connecting flights. more...
