Caja Murcia, Caja Granada, Sa Nostra, Caixa Penedes perform a cold fusion

As is happening in the last days before the deadline given by the Bank of Spain to produce a reorganization of financial institutions in our country, Caja Murcia, Caja Granada, Sa Nostra Caixa Penedes and have finalized the details a merge.

And that Caja Murcia, Caja Granada, Sa Nostra, Caixa Penedes were going through a difficult financial situation due to mismanagement produced before the crisis, providing credit to individuals, enterprises, entrepreneurs who have gone to be provisioned and take losses, should the keep real estate assets, which are difficult to convert into cash now.

The option used for all of these savings is the cold fusion or also known as the establishment of a SIP or Institutional Protection System, an alternative that will lead Caja Murcia and which may maintain its own legal personality, its brand their organs of government ....

Of course, to carry out this SIP will require financial assistance from the Banking Ordinance Restructuring Fund , an aid which amounts to nearly one billion euros and that will lead to a new financial institution in the form of a bank headquartered will be in central Madrid and financial volume will be the sixth largest financial group of boxes or the seventh volume of assets.

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