The deputy governor of the Bank of Spain sees room for further consolidation bank – Investing.com Spain

MADRID (Reuters) – the deputy governor of The Central Bank said on Thursday it saw room for more consolidation in the banking sector in Spain, after the information of the last two weeks on that Banco Popular (MC:) may merge with a rival.

“I Think that there is scope for further progress in the process of consolidation,” said Fernando Restoy to journalists at a conference on banking in Madrid.

“we’re in this moment in a process in which things are changing and therefore the financial institutions have to make these strategic reflections that they are largely doing”, he added.

Popular said on 1 December it would replace its president, who has long maintained that the bank was strong enough financially to remain independent. His departure could lead to that Popular be the target of a potential offer and that lead to another round of mergers.

(Information Jesus Aguado; Translated by Inmaculada Sanz)

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