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07/19/2010

Azpiazu congratulates BBK on the CajaSur takeover as it will give the bank “more clout” to operate in the world of finances

The EAJ-PNV spokesperson for economic affairs at the Congress, Pedro Azpiazu, congratulated BBK and its Chairman, Mario Fernández, on the operation that enable the Bizkaia bank to take over  CajaSur.  He stressed that this would "consolidate the bank and give it more clout" to operate in the world of finance.

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Azpiazu congratulates BBK on the CajaSur takeover as it will give the bank “more clout” to operate in the world of finances

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Azpiazu recalled that BBK had attempted several  previous operations to grow and he therefore felt that the bank and its Chairman, Mario Fernández, "who had worked intensely on this",  had to be congratulated on this achievement.

The nationalist representative stressed that if  banks and savings banks want "to be competitive and be a world player", size "is very important". He went on to point out  that BBK's takeover of CajaSur would mean that the Bizkaia savings bank "would grow in size that would mean it had more clout" when "operating in the world of finance".

He also explained that this operation was an auction and therefore "the BBK would continue to hold total control". "It is good news, because it has grown in size, but continues to keep control and this is going to let the bank operate in larger spheres than if it did not merge or just stayed the same," he pointed out.   

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