Asked about Popular's situation, Luis Maria Linde told Spain's Senate: "It's simple, now is not the time. I haven't come prepared for that."

Popular's shares have fallen over 50 percent during the last week on concern it would not be able to fulfil its stated plan to either find a buyer or raise new capital, and could face being wound down.

(Reporting by Sarah White; Writing by Angus Berwick; Editing by Julien Toyer)