1154 GMT - CaixaBank's standalone profitability and capital generation set a high standard for any potential M&A transactions, Citi says in a research note. This comes after Bloomberg reported that the Spanish bank is potentially interested in buying Portugal's Novo Banco. The Portuguese lender is majority owned by private equity firm Lone Star, which is said to be considering an IPO or a disposal to another bank. For CaixaBank, a potential acquisition would double its presence in Portugal, where it owns BPI. "We think (1) CABK's capital constraints (with a currency that hasn't reached its full potential); (2) execution risk; and (3) a still uncertain global macro environment should hold management back in the bidding process," analysts Marta Sanchez Romero and Anand Demble write. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 07:54 ET (11:54 GMT)
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