There is room for integrations among entities in the eurozone

José María Méndez, CEO of CECA, stated that the dance in the European financial system is not over yet. The executive recalled the importance of the consolidation process experienced in Spain, which has transformed 45 savings banks into 11 banking groups and tripled the average balance of the resulting entities. Looking ahead, the executive asserted that “there is room for new cross-border integrations among entities in the eurozone.” Furthermore, Méndez stated that “mortgage delinquency has, in fact, reached its peak,” a scenario partly due to economic improvement and the declining unemployment trend. Regarding the regulatory environment, Méndez described it as “one of the greatest concerns” for managers. “We have a new capital regulation on the table, and this is something that is increasing the costs for entities.”