Monday , January 25 2021

The ECB prefers to merge cross-border banks

FRANKFURT (Reuters) – The European Central Bank (ECB) would prefer to see interbank mergers in different countries in the euro rather than merging interbank in the same country, its vice-president Luis de Guindos said on Monday. answer questions about possible marriages in the sector in Germany and Spain.

"Consolidation can be an alternative to reducing costs and becoming more efficient," he told MEPs. "But (…) from the ECB's point of view, we prefer cross-border mergers."

He had been questioned of the front about the possibility of a merger between the German groups Commerzbank and Deutsche Bank on the one hand, between the Spanish Bankia and Sabadell on the other hand.

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