Circle Fund approves a SIP with Caja Badajoz and Caja Inmaculada.
Burgos, June 21 .- The Board of Directors of Caja Circulo, de Burgos, has approved this afternoon a "letter of intent" for the constitution of an institutional protection scheme (SIP) with Caja Badajoz and Caja Inmaculada, with the supported by the Bank of Spain.
According to Burgos entity reported after the meeting of its Board of Directors meeting this afternoon with this "constitutes one of the most solvent, darkfall gold, financial map of the new Spanish" in order to "enhance capital strength, solvency, efficiency , liquidity, profitability and excellent financial position of the three savings banks to compete in the current financial environment, combining the regional implementation of each of them with geographic complementarities. "
According Caja Circulo de gestion good indicators that show the three entities allowed to carry out this, gaia gold, project without having to go to the Banking Ordinance Restructuring Fund (Frob), a mechanism designed by the Government to provide, from an economic viewpoint, the integration of financial institutions.
"The complementary nature of business networks and templates allows you to have implantation at the national level in Portugal, avoids duplication and confirmed its stable presence, potential expansion, mortal gold, and leadership in such important areas as Aragon, Extremadura and Castilla y Leon, one of the outstanding advantages of this project over other alternatives, "said the second entity saving Burgos.
This agreement, according to Box Circle, will favor the interests of customers, employees and society in general and also permit Circle Fund, CAI and Caja Badajoz retain its legal personality, Social and Cultural Work, "identity and organs of government."
The three cases share a common philosophy as "a commitment to its land, its origins, its people, and a clear vocation to serve the interests that ever since its inception, have given their best efforts and dedication."
This new group of savings banks, Caja Circulo adds, is one of the most efficient and sound of the Spanish financial system, since all three entities meet an active volume of 21.394 million euros and equity of more than 2,000 million euros.
They also present a solvency ratio of 13.5%, a core capital of 9.1% and a comfortable liquidity position, with a ratio of 14.2% of assets, one of the highest in the sector, the 7.4% of the cases and 3.3% of credit institutions.
The network totals over 600 offices and combined workforce totals nearly 3,000 empleados. 1010449