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Banca Civica Holds Talks "informal" with entities in addition to those announced with Caja Segovia and Caja Avila.

The areas responsible for Finance, Resources and Media, Investment and Corporate Development and Relations with National and International Markets Banca Civica, Roberto Rey, reported Tuesday that the group currently has two entities "at the door" -Caja Segovia and Caja Avila, "but who also held" informal talks "with other agents.

King was manifested in this way during the presentation ceremony held this morning in Santa, sto energy credits, Cruz de Tenerife where he was accompanied by the head of Global Business Area, David Cova, and responsible for the areas of strategic deployment and Corporate Services and Loans & Juan Oderiz.

Oderiz I explain that boxes of Avila and Segovia have joined the protocol. Clarify here that "no other processes" currently open. For its part, Cova, buy darkfall gold, admitted that "hopefully" would have more similar projects and is rrred to the situation in the archipelago. He explained that there are "two lines" in rrence to the Fund CajaCanarias and Insular.

"A Canary is interested in having two axes. It's good to have competition for entrepreneurs and customers have more choices," he said while ruling out the union with, darkfall gold, the other entity. Similarly, David Cova dnded the Civic Banking model before the "fusion." "There are other more beneficial formulas," he said simply.

Nevertheless, he continued stating that Banca Civica architecture is a process of "open." "We talked, but we can not say much more," he emphasized while recalling that attempt with the Balearic Sa Nostra "but has not reached an agreement." Oderiz view of the fusion does not make sense.

Cova explained that the integration is due strictly to criteria "business" and urges that the new situation allows a "powerful presence in international markets." Here he added the local presence and desire to overcome the credit crunch. "We will best products and services," justify to add the group "has the virus of innovation." Recalling further that the funds retain their legal personality.

He explained that the formula here is the result of banking regulation and emphasize the imposition of the new model has a large implantation in the United States. Therefore I propose that Banca Civica will have capacity for expansion. Here I emphasize that the objective is to increase the number of 71 000 clients, 15 per cent increase in private banking and international levels and inject 1,500 million gain for companies with liquidity.

King said the financial sector is currently undergoing a process of industrial reconversion and added that the group had 202 million profit, a figure expected to increase to 555 in 2013. On the credit situation has pointed out that 3.138 million of resources and the goal is to reach 3,500 million. Currently the group is the sixth country in funding entity, the seventh in profits and also the seventh in total assets. It also has activities in 22 provinces and 1.8 million customers.

For its part, Cova summarized that the path so far has been "long, but very intense." So explain that has been supervised by the Banco de Espana, the National Securities Market and Competition. He pointed out that the mark was born "under the strategic direction of putting the customer at the center", and I detail this may decide to be devotedthe resources of the Social Work and Cultural.PRIVATIZACION

Cova he assumed at this point that the boxes "does not deserve" to be so conditioned as they are being and pointed out that the organs of government are professionals. Thus replied to criticism by the politicization of the boxes. You will not need to stress that "privatize" the boxes to exit the current situation.

For its part, Oderiz stated that after months of work last December 2009 was signed the Memorandum of integration of the three entities. From there it developed a strategic plan and integration contract, which was supervised by the Banco de Espana. This document contains, inter alia, the delimitation of assessments of interest and organizational design.

As to the first paragraph reminded that Caja Navarra has a share of 41 percent, while CajaCanarias gets 30 and Caja Burgos 29. On the organizational design, Oderiz said it was a "wheel" where all information flows and interdependent. So there are seven main areas, and three general managers. In his brief summary, Oderiz pointed out that March 27 was the date that was approved by the last assembly the initiative.

After this milestone, I emphasize that the labor board agreed that all employees who become Banca Civica will maintain their working conditions and will abide by the agreement of savings banks. Finally I detail the integration contract was signed on April 7 and is now awaiting approvals from regulators.

Banca Civica Group has 825 offices, of which 680 are in natural areas of each of the three boxes and the remainder in areas such as Madrid, Catalonia and Valencia.