Bloomberg News

Mas Says CatalunyaCaixa Needs Aid Like Bankia, Vanguardia Says

May 27, 2012

Catalan regional President Artur Mas and Josep Duran i Lleida, a spokesman for Catalan party CiU, met with Spanish Economy minister Luis de Guindos on Friday to discuss the future of savings bank CatalunyaCaixa, La Vanguardia said.

Mas and Duran said that CatalunyaCaixa should receive the same treatment as the Bankia Group, the lender nationalized earlier this month and that’s asking for 19 billion euros ($23.8 billion) of state funds to clean up its balance sheet, the newspaper reported, citing unidentified people with knowledge of the matter.

The meeting also discussed whether Bankia, Caixa Galicia and CatalunyaCaixa will remain independent, with their management teams intact and without merging to create a state- owned bank, despite the fact that the state will soon own all of them, La Vanguardia said.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net


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