BARCELONA—The European banking sector should be heading toward consolidation, CaixaBank’s CABK -0.15%decrease; red down pointing triangle finance chief Javier Pano said.
The Spanish lender plans to watch on the sidelines as peers seek deals, having acquired Spain’s Bankia and Portugal’s Banco BPI through stakebuilding in the past decade. Pano helped oversee both the cross-border and domestic transactions, after which CaixaBank emerged as Spain’s largest bank by domestic assets. This gives him first-hand perspective on the potential benefits and pitfalls of dealmaking among banks.
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