|Caja de Ahorros|
|Enrique Goñi CEO|
Caja de Ahorros de Navarra or Caja Navarra or CAN was a medium-sized savings bank based in the Navarre province of northern Spain with headquarters in Pamplona. The financial institution broke up in 2012 among allegations of irregularities and failure by the relevant control organ of the Government of Navarre to audit the savings bank for several years. On an yearly basis, UPN's regional Government was handed over a copy-paste, two-page long activity report by Caja Navarra, as revealed in 2014.
The bank resulted from the merger of the Caja de Ahorros y Monte de Piedad Municipal de Pamplona (founded by the Pamplona city council in 1872) and the Caja de Ahorros de Navarra (founded by the Provincial Council of Navarre in 1921) on January 17, 2000. Caja Navarra was one of the three banks that merged to become Banca Civica.
The merge came after proposals put forward by like savings banks in the Basque Autonomous Community to form a powerful financial holding within the Basque context failed to materialize. Political objections raised by the Navarrese party in office UPN prevented any moves in that direction.
In Spain, savings banks or cajas are private financial institutions organized as foundations. When they were created, their identifying features were their concern for saving, focus on the poorer classes, concentration in a geographical area, and allocation of a significant part of their profits to social and charity projects. Today their commitment to the community continues. These savings banks devote a percentage of their resources to charity and community projects, in CAN's case 30 percent. On its last stage prior to its 2012 disappearance, Caja Navarra developed under Enrique Goñi as CEO.
A series of decisions made during several years led to the crash of the Caja Navarra as a savings bank, and its conversion into a foundation. In the Navarre political arena, mismanagement and obscurantism accusations emerged early on, even before the eventual fall of the financial institution. A parliamentary investigation panel was established in January 2015 to determine possible responsibilities.
- "La Cámara de Comptos constata que el Gobierno hizo dejación de funciones al no controlar Caja Navarra". Noticias de Navarra. 13 February 2014. Retrieved 14 February 2014.
- "CAN despachaba en dos folios, que repetía cada año, las explicaciones al Gobierno foral sobre su actividad". Noticias de Navarra. 17 June 2014. Retrieved 17 June 2014.
- Corporate Governance. Vol. 7, No. 4, 2007. p. 436.
- Lafferty Retail Banking Insider. Issue: 2008/6. http://www.lafferty.com. April 7, 2008. p. 11.
- Corporate Governance. Vol.7, No.4, 2007.p. 434-445
- Lafferty Retail Banking Insider. Issue: 2008/6. http://www.lafferty.com. April 7, 2008. p. 11
- Euromoney. December 2007. http://www.euromoney.com p. 112
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