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Earlier today another Spanish savings bank, La Caixa, confirmed talks had taken place with smaller competitor, Caixa Girona, with regards to the possibility of a merger. This news comes at the end of a week that witnessed a string of mergers and action surrounding Spain's troubled savings banks, many of which are exposed to the collapse of the construction and housing market here.
La Caixa is a leading European savings bank - the third largest financial group in Spain by business and results - and owner of holding company Criteria, whilst Caixa Girona is operational mainly in the province of Girona.
There has also been further speculation in the Spanish press of a merger between two other savings banks, Bancaja and Caja Madrid.
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