Spanish bank branches to close to cut costs -study

MADRID, Dec 1 (Reuters) - Spanish banks will close some of their branches to cut costs, a report for the non-profit making arm of the country's second-largest bank, BBVA (BBVA.MC), said on Monday.

"In a situation in which the growth of the banking business has slowed down considerably, we are going to witness a small fall in the network of bank branches in Spain in order to cope with higher operating costs," researcher Joaquin Maudos said.

While presenting the report for the BBVA Foundation, the Valencia University lecturer added that he forecast banks would consolidate both in Spain and Europe.

"In view of the advantage which consolidation involves in terms of cost-cutting, I do expect not a wave of mergers but more selective international mergers," Maudos said in Madrid. (Reporting by Jesus Aguado; Translating by Sarah Morris, editing by Will Waterman)