Unicaja and Liberbank resume their merger project driven by the crisis

Unicaja and Liberbank have resumed their merger project to try to create a stronger entity with a greater capacity to face the ravages of the coronavirus crisis.

Both entities have resumed their contacts months after they aborted their integration project due to discrepancies around the exchange of the value of the shares to carry out the integration, as confirmed by Unicaja to the

this Monday .

It's been

since the two groups broke up talks, but what a 16 months.

The coronavirus pandemic has turned the financial sector upside down, adding delinquency and solvency problems to the low profitability that had already been hitting bank accounts in recent years.

In this framework, banks and financial regulators are betting on mergers as one of the ways to cushion the effect of the economic recession.

The objective is to gain size to access the capital market more comfortably and

in an attempt to encourage the bottom line.

Unicaja has not yet hired external advisors to analyze the operation in detail and limits its contacts to "preliminary conversations" of which its board of directors has been aware.

The Andalusian bank justifies these contacts in "the analysis of potential investment opportunities and corporate operations that could be of interest to all its shareholders."

According to the criteria of The Trust Project

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