Spain's Caixabank, Bankia approve merger deal, sources say

Credit: REUTERS/ALBERT GEA

The boards of Spanish lenders Bankia and Caixabank on Thursday approved the terms of a proposed merger that will create Spain's biggest domestic bank with around 600 billion euros ($710 billion) in assets, sources familiar with the matter said.

MADRID, Sept 17 (Reuters) - The boards of Spanish lenders Bankia BKIA.MC and Caixabank CABK.MC on Thursday approved the terms of a proposed merger that will create Spain's biggest domestic bank with around 600 billion euros ($710 billion) in assets, sources familiar with the matter said.

Caixabank and Bankia declined to comment.

($1 = 0.8450 euros)

(Reporting by Jesús Aguado; editing by Sonya Dowsett)

((jesus.aguado@thomsonreuters.com; +34 91 585 8339; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))

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