Long-time observers of European banking may feel they have heard enough about banking alliances. Time and again these have been launched amid great fanfare only to come to little. BSCH’s task is to convince investors that its alliances contain greater substance.
“Before, these investments were financial investments with a little flavour added in terms of meetings and exchange of information,” says José Luis del Valle, BSCH’s finance director. “They were first-generational alliances. Now we are turning them into second-generational alliances with some co-operation that has to be translated into the bottom line.
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