Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Banca Civica Co-Chairman Says Bank Is Talking to Merger Partners

Feb. 29 (Bloomberg) -- Banca Civica SA Co-Chairman Antonio Pulido said the Spanish bank is talking to potential merger partners as the government promotes consolidation.

Civica is holding conversations with other banks just as others are, Pulido said today in a news conference in Madrid.

Civica, a lender formed from the merger of four savings banks that last year raised 600 million euros ($807 million) in an initial public offering, has to make provisions of about 575 million euros because of a government order for banks to recognize more losses on real estate. The bank said previously that its has “different alternatives” to cover the requirements, and Pulido said today the company will be able to do so while remaining independent if it wants.

The lender said today net income fell 6.5 percent to 183.5 million euros in 2011 from a year earlier.

To contact the reporter on this story: Charles Penty in Madrid at cpenty@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.