How a new referrals Spanish financial system
Author: David Y. Chin
The boards of Sa Nostra, CajaMurcia, Caiman Premeds and Jacaranda today approved the signing of a Memorandum of integration in determining the basis for the creation of a consolidated economic group contractual basis with the qualification of Institutional Protection System ( SIP) consisting of the four cases, the entities reported to the Commission National del Mercado de Valor’s (CNMV).
The Board of Directors of the Group, bringing together representatives of the four entities, will have 16 members and be chaired by the president of CajaMurcia, Carlos Egged, while the vice president will be the director general of the Caiman Premeds, Ricardo Pages and Secretary Council shall be the chair of Jacaranda, Antonio Jar. For its part, the president of Sa Nostra, Fernando Alamosa, will chair the Audit Committee.
For its part, the agreement provides that each of the four entities will maintain their legal status, its brand, territorial compromise and retail business, while also preserving the bodies independent of Government and Social Work.
In addition, organizations will share their best financial practices, under the advantages of model-SIP-elected to form the new reference group of Spanish financial system.
In a statement, the four boxes stressed that the figures of assets and business of SIP confirms the strength of the new group, which will “strengthen the financial structure of its member entities, diversify risk and increase their operational capacity.” In addition, they said it will also increase the supply of services to customers and 4-million loan investment will increase in their respective areas of deployment.
On the other hand, stressed that the homogeneous profile of the four boxes that make up this alliance, derived from the roots in the respective areas of influence, as well as branch offices in other areas, “will lead the new group to grow to territorial cohesion and coherence”.
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