Cajamar to merger with Caixa Rural Balears

Costa de Almería

ALMERIA-BASED savings bank Cajamar, has agreed a merger with Caixa Rural Balears, which will make the new entity the sixteenth largest in Spain. The merger will be voted in August, and if all goes ahead as planned, will be completed by the end of this year. The joint entity will have some 45,500 million euros business, 5,100 employees and almost 1,000 offices.

The two savings banks currently have no offices in the same places, which means that all will remain open and employees will keep their jobs. They will continue to provide services for 2.3 million clients in Andalucia, Asturias, Aragon, Balearic Islands, Cantabria, Castilla-La Mancha, Castilla y Leon, Cataluña, Madrid, Valencia, Murcia, Ceuta and Melilla.