Unicaja and Caja de Jaen effect to its junction with the signing of the deed of merger.
As reported at the press conference, the execution of the deed of fusion is emerging as the time "substantial" to materialize the union of the two entities and will be completed with registration.
Moya bows emphasize that fusion has been an "absolutely voluntary" made from the "reflection" and "head" so that it is not a traumatic process, but positive, while Medel abounds in that if, buy kinah aion, processes fusion are already long and complicated case when the cabinets are made still more, so that I emphasize that today culminates a "long gestation period," a union that has been possible thanks to the "contest of wills."
The new entity will be consolidated since its inception as the first financial institution in Andalusia and one of the largest savings banks in, darkfall gold for sale, Spain, located in fourth place for profits, with 266.6 million euros, with a net worth of close to 3,000 million , according to aggregated data of the two boxes. The merger reinforces the strength of both boxes, allowing the merged entity having a high level of capitalization, with a core capital ratio of 12.2 percent.
Medel, I, darkfall gold for sale, analyze the fusion was thinking the board first on customers and people who trusted entities to deposit your money, do not let miss not only held the lead economy, but also institutional nature and implication . Also, I stress that this is the first fusion after the financial crisis of 2007 and has performed without any aid euro as this process, as stated, do not be thinking about aid, but by the pure belief " that is good.
The case resulted from the merger of Caja de Jaen Unicaja with denomination is Monte de Piedad and Caja de Ahorros de Ronda, Cadiz, Almeria, Malaga, Jaen Antequera, based in Malaga. The trade name of the new entity is Unicaja, but during a period of time coexist marks the merged entities.
This project originated in 2009, approved by the boards of both companies on 13 August. In addition to this process, Unicaja maintains a Memorandum of Understanding with Cajasur fusion.
The main "milestones" in the process of integration between Unicaja and Caja de Jaen were, chronologically, in addition to the aforementioned approval by the respective councils, the signing of the relevant work-on which Moya Arcos stress that collects no redundancies " The approval of the project by the respective assemblies, as well as the nod to the rules by the Ministry of Economy of the Junta de Andalucia, a favorable report from the Bank of Spain and, finally, the approval of the merger by the Governing Council of the Junta de Andalucia.
In the new case resulting from the fusion would correspond a turnover exceeding 55,000 million euros, 953 offices and 4871 employees, all according to data from 2009. Regarding the Social Work is scheduled to maintain the social work developed by Unicaja and Caja de Jaen. The Social Construction of the new entity created as the most important private Social Work in Andalucia, with a budget of over EUR 53 million (in 2010), 5.2 million beneficiaries, more than 5,800 annual events, 174 businesses and impacts on national GDP in excess of 112 million, according to 2009 data aggregated from the two boxes.
With regard to the number of branches noted that this case is not for the moment on the table immediately, the first obligation to provide the "best possible" and that in the future will address this issue as "more efficient" but "without breaking the trust relationship" between customers and branches.
On the organs of government, indicated that this provided that the Board of Directors of the new entity will continue in the positions the president, vice president, second vice president, secretary and deputy secretary who is now the current Unicaja, incorporating a third vice president, post he held a member of the Board of Directors of Caja de Jaen.
The organs of government of the new entity will have the following composition during the transitional period of three years: tell the General Assembly with 190 members (the current 160 Unicaja and 30 by Caja de Jaen), the Board of Directors, 27 members (the current 20-seven Unicaja Caja de Jaen), and the Commission of Control, 13 (tens of Unicaja and Caja de Jaen three).