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Víctor Iglesias, CEO of Ibercaja, guidelines out that the entity goes to take part in any merger course of

Víctor Iglesias, CEO of Ibercaja, has assured that “Ibercaja is not going to participate in any merger or integration process in the coming years.” The supervisor of the monetary establishment has been fairly clear in stating that “no one has given us anything and we are going to promote our retail banking project.”

During his participation within the CREO discussion board, organized by CincoDías, the CEO of the financial institution, thought-about that “from now on we are not going to witness any relevant wave of integrations, since the bulk of the banking concentration has already occurred and is there”.

The manager explained that, unlike the great “recession, the reality is that the potential merger processes would take place with the objective of creating value for the shareholder and not with the aim of ending the weakness of the entities because they are all entities robust.”

Furthermore, Iglesias warned this Tuesday of the danger that rising banking focus poses for competitors “in some segments” in Spain. “We are in one of the most concentrated banking markets in Europe,” burdened the chief, who has reiterated his conviction of “the convenience” of there being “a certain biodiversity of operators, in all sectors and even more so in banking.” .