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03/24/2011

Ortuzar: “The merger is the right way of becoming more competitive”

Regarding the agreement the savings banks BBK, Kutxa and Vital have reached to integrate and develop their financial business through a bank, Andoni Ortuzar, chairman of the Basque National Party‘s provincial committee for Bizkaia has stated “we welcome the savings bank‘s merger at a difficult time such as this. It is the right way of becoming more competitive through this three-way arrangement agreed by the institutions themselves and not by the political parties”.

“It is very important for the savings banks to join forces. We would have preferred a full merger, but this is a step towards that merger” he added. “Our aim was a three-way agreement that involved the governing boards of the savings banks, and not politicians, and this step is in that direction. We need strong, competitive institutions” he added.