Spain’s Sabadell rejects offer from Co-op bank
Spain’s Sabadell said that its board has rejected an offer from Co-operative Bank for its British subsidiary TSB. This is after Sky News first reported about the approach. Sabadell confirmed in a statement that it had received a letter from Co-operative Bank. By outlining a proposed offer for TSB, said its board had officially responded to Co-operative Bank that this is…
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Caixabank considers selling 9.92% stake in Erste group
Spain’s Caixabank said that it was considering selling its entire 9.92% stake in the Austrian lender Erste Group Bank. The stake has currented a market value of around 1.65 billion euros. The Austrian lender’s 429.8 million outstanding shares comes under this. The lender said that a potential full disposal of its stake in Erste based on the…
Caixa bank to cut 6450 jobs in Spain’s biggest banking staff overhaul
Caixabank with its union spokesperson announced that they have agreed with unions to lay off 6,452 employees. And this will be the biggest ever staff overhaul in Spanish banking. Comisiones Obreras (CCOO) union and the bank said that after the bank met some of the union’s demands, such as voluntary redundancies, the agreement to reduce…