ECB Pushes Cross-Border Bank Mergers

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The ECB calls for more cross-border banking mergers in an EU where consolidation is almost always done within each country.The vice president of the institution, Vujcic, has put it bluntly before the 10th conference of the European Council on Systemic Risks (ESRB): the banking concentration in the eurozone progresses, but moves in national key or between neighboring countries, and that, in the eyes of Frankfurt, is competitiveness that remains i…

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The vice president of the European Central Bank (ECB), Boris Vujcic, has urged the European banking sector to promote mergers and acquisitions beyond national borders, with the aim of creating what the institution has previously named as ‘European champions’, that improve the banking competitiveness of the continent and be able to rival [...] The entry The ECB appeals to cross-border mergers of banks to improve the competitiveness of the sector …