Merger negotiations between Liberbank, S.A. (BME:LBK) and Unicaja Banco, S.A. (BME:UNI) to create the country's fifth biggest lender in terms of total assets are still ongoing, Unicaja's Chairman Manuel Azuaga said in a statement on October 28, 2020. The chairman also said that due diligence was still being carried out and no agreement had been reached as of yet since the lenders hired advisers earlier this month.