The panorama in the Spanish savings banks continues a very clear tendency before the crisis: to join before the adversity. This way we are living through an authentic mergers wave in different autonomous regions, and now it is Gallicia who has taken the determination to join to his two boxes. 
Caixa Gallicia and Caixanova already prepare a process of merger that can derive in the creation of the fifth savings bank of the country for assets volume. With the current numbers there would become the fourth one, but they would turn out to be overcome by the process in which immersed Caixa Catalunya is with Tarragona and Manresa. This way, Caixa Gallicia and Caixanova would add almost 71.000 million euros in assets, being Caixa Gallicia slightly major than his futiro associate: 45.000 millions for 26.000 of Caixanova. Also, between both financial institutions they add more than 1.400 offices. Nevertheless, notable duplicities exist between his networks that would allow a notable cost efficiency.
On the other hand, the process would be provided with the help of the Fund of Bank Tidy Restructuring (Frob), created precisely to support the entities integration. In slowness terms, two Galician entities were overcoming 4 % in June, in line practically with the average of the sector of savings banks.
The team of president of the Galician autonomous government, Alberto Núñez Feijóo, met recently the Caixanova dome and that of Caixa Gallicia. To these meetings not the proper Feijoo on having been in Madrid in the meeting of the National Executive board of the PP. In his comeback to Gallicia, the president of the Xunta said that his Government will adopt a definitive decision “once evaluated and studied” the account of results of both boxes. The Galician Executive tries to make his position public before the year finishes.
Guillerme Vázquez, the national spokesman of the Nationalistic Block Galego (BNG), gave for fact that there will be merger between both boxes, be already by means of a full integration or across an Integral System of Protection (SIP). For his part José Blanco, the general vicesecretary of the Spanish socialist party and the minister of Promotion, allowed to make out that he would prefer that the Galician boxes were looking beyond his territory for possible merger processes.
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