Politics continue to influence savings banks in Spain, and Banca Cívica is a case study. Two days ago, the bank's president, Yolanda Barcina, expressed publicly her differences with Spain's Deputy Prime Minister about who Banca Cívica should merge with.
The bank's two co-presidents are not in agreement, and who wins tomorrow's Andalusia election (in addition to the bank's sale) will depend on whether the merger between La Caixa and Banca Cívica succeeds. If the PP wins, an agreement with Caixa is possible. And if the PSOE wins, Banca Cívica co-president Antonio Pulido will try his hardest to ensure that deal does not happen. This is one more indication that the financial sector has not been cleaned up and that time continues to run short.
