The Andalucian savings banks CajaSur and Unicaja have agreed merger terms which will also include Caja Jaén. The move will make the new entity the six largest savings bank in Spain in terms of volume of activity.
The fine details of the merger have yet to be announced, but the intention is to make the process the least traumatic as it relates to duplication of services in some areas.
Unicaja was founded in 1991 through the integration of the savings banks of Ronda, Cádiz, Almería, Málaga and.. Antequera.
CajaSur was founded in 1878 by the Cathedral Chapter of Córdoba and is currently supervised by the Junta de Andalucía.