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This remains weak by international standards and is negatively affected by the integration of the weaker Banco CEISS. Coverage levels also improved and remain slightly above the sector's average.
Spanish lender Unicaja Banco SA said that the Spanish central bank's restructuring fund FROB had agreed to provide it with as much as EUR241m (USD329.5m) to help it complete its merger with local regional bank Banco Ceiss, despite the insufficient support from Ceiss's shareholders and bondholders for the tie-up.
Instead, they rely on CEISS's data center in Victoria to host the application and support their use of it.
The state aid will enable the bank to cover the compensation to retail investors for the huge losses incurred by Ceiss clients following investments in preference shares.
The restructuring of the Spanish regional bank Banco CEISS, approved by the EuropeanaCommission on 13 May, paves the way to its acquisition by Unicaja Banco.
With this, the two Spanish banks BMN and CEISS would be nationalised through the subscription of ordinary states by the government.
Another four banks -- Mare Nostrum, Banco Caja 3, Liberbank and Ceiss -- deemed not fully capable of surviving a serious economic downturn are due to present restructuring plans before Dec.
The morphology of the fractured samples after tensile testing was observed with a stereo-microscope model Stemi 2000 (CEISS, Germany).
The European Commission (EC) said that it had approved the planned restructuring of Spanish regional bank Banco CEISS and its combination with local lender Unicaja Banco SA.
After giving the green light, on 28 November, to an injection of 37 billion into four nationalised Spanish banks (Bankia, Novagalicia,aCatalunyaCaixa and Banco de Valencia - see Europolitics 4538), it has, in return for this aid, approved the restructuring plans for Banco Mare Nostrum (BMN), Caja3, Banco CEISS and Liberbank, which are in serious trouble.
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- Ceinwen Faulkner Memorial Trust
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