The agreed merger of two Catalan institutions, Caixa Penedes and Caixa Laietana will create a powerful platform for the appearance of the ninth-largest savings bank by assets:  EUR 32 billion. In addition to financial units, the tie-up will involve employment of 4000 people and over 900 offices. According to the governor of Bank of Spain, 1/3 of 45 savings banks could be favorably passed on to the absorption of stronger institutions.