BANCA COMMERCIALE ITALIANA (COMIT) has signed an agreement for the takeover of 100% of Argentina's BANCO CAJA DE AHORRO from the insurance group CAJA DE AHORRO Y SEGUROS, for an undisclosed amount. The new acquisition, which will be merged with COMIT's Argentinian subsidiary BANCO SUDAMERIS ARGENTINA, and which will become one of the top ten banks in Argentina, is a mid-sized bank with 84 branches and a balance sheet total of USD 1.2 billion.