CajaCanarias and Caja Navarra (CAN) agree “model of integration” in Canaries’ first merger

CajaCanarias and Caja Navarra (CAN) have agreed a “model of integration” in the first consolidation that approaches a merger in the Canaries. Both banks appear to be intent on keeping their distinctive identities but will configure an economic group to integrate business and share risk policies. The agreement was signed by the Presidente of CajaCanarias, Álvaro Arvelo, and the General Director of Caja Navarra, Enrique Goñi. The combined new bank group will be the 9th largest savings bank in Spain in terms of total activity volume and the 6th in terms of consolidated attributes.  Diario de Avisos

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