|Traded as||BMAD: CABK|
|Key people||Isidre Fainé Casas (Chairman), Juan María Nin (CEO)|
|Products||Universal banking, insurance, investment holdings|
|Profit||€503 million (12M'13)|
|Total assets||€340.190 million (12M'13)|
CaixaBank, S.A. (Catalan pronunciation: [ˌkaʃəˈbaŋ]), formerly Criteria CaixaCorp, is a Catalan financial services company , owned by the savings bank La Caixa with a 72.76% stake. The company consists of the universal banking and insurance activities of the La Caixa group, along with the group's stakes in the oil and gas firm Repsol YPF, the telecommunications company Telefónica and its holdings in several other financial institutions. Isidre Fainé is the Chairman of the company, having replaced Ricard Fornesa Ribó in May 2009, and its CEO is Juan María Nin. It is Spain's third-largest lender by market value and with 6,631 branches to serve its 13.2 million customers, CaixaBank has the most extensive branch network in the Spanish market.Penly, Charles (2013-01-10). "Spain's Shrinking Bank Network Leaves CaixaBank Top-Heavy". http://www.Businessweek.com. BusinessWeek. Retrieved 21 October 2013.
The firm was formed in 2007 as Criteria CaixaCorp, a publicly traded vehicle for La Caixa's shareholdings and investments in both industrial and financial services companies. At the time of its 2007 debut, the Criteria CaixaCorp initial public offering was the largest-ever in Spain. The company was promoted to the IBEX 35 index in January 2008.
A 2011 restructuring of the companies of the group saw Criteria renamed CaixaBank as La Caixa's banking and insurance activities were merged into it. At the same time most of the industrial stakes held by Criteria (including Grupo Port Aventura, Grupo Agbar, Gas Natural and Abertis) were transferred out of the firm to the new entity Criteria CaixaHolding, 100% owned by La Caixa. Caixabank retained stakes in Repsol YPF and Telefónica as well as all of its holdings in other financial services companies.
On 26 March 2012 CaixaBank announced its intention to merge with Banca Cívica, valuing Civica at 977 million euro. The merger is intended to be completed in the 3rd quarter of the year and will create the largest bank in Spain.
On 27 November 2012, CaixaBank announced its plan to buy nationalized bank Banco de Valencia after Spain's bank restructuring fund called FROB injects 4.5 billion euros into Banco de Valencia. The FROB also assumed losses of up to 72.5% for a period of ten years in certain assets held by Banco de Valencia."Caixabank to buy nationalised Banco de Valencia for 1 euro - FROB". http://www.reuters.com. Reuters. 2012-11-27. Retrieved 21 October 2013.
On 26 September 2013, CaixaBank approved the sale of its real estate unit Servihabitat to a joint venture between the bank and private equity fund Texas Pacific Group (TPG) for an intial price of 310 million euros. Caixabank's parent, financial group La Caixa, said it estimated it would bring in 317 million euros in capital gains from the deal."Spain's Caixabank approves real estate unit sale to TPG". http://www.reuters.com. Reuters. 2013-09-26. Retrieved 21 October 2013.
2008-2013 Spanish Financial Crisis
Fund for Orderly Bank Restructuring (FROB), a banking bailout and reconstruction program initiated by the Spanish government in June 2009, facilitated the merger between CaixaBank and Banco de Valencia in 27 November 2012."Caixabank to buy nationalised Banco de Valencia for 1 euro - FROB". http://www.reuters.com. Reuters. 2012-11-27. Retrieved 21 October 2013.
With competitors such as Banco Santander SA with 4,752 Spanish branches, CaixaBank announced it is conducting a "gradual process" of adjusting its branch networks in 9 January 2013. Penly, Charles (2013-01-10). "Spain's Shrinking Bank Network Leaves CaixaBank Top-Heavy". http://www.Businessweek.com. BusinessWeek. Retrieved 21 October 2013.
CaixaBank SA sold 13.1 billion pesos of shares in Grupo Financiero Inbursa SAB to both bolster trading in the Mexican lender controlled by billionaire Carlos Slim and replenish money lost amid Spain's property crash."CaixaBank's $990 Million Inbursa Share Sale Tests Mexico Market". http://www.businessweek.com. BusinessWeek. 2013-06-25. Retrieved 21 October 2013.
Significant declared shareholdings as of March 2012 were:
|Company||% of share capital|
|Banco BPI||30,1% (increased to 49% the 20th of April 2012 )|
|Grupo Financiero Inbursa||20.0%|
|The Bank of East Asia||16.9%|
|Bolsas y Mercados Españoles||5.01%|
- "Annual Report 2011" (PDF). CaixaBank. Retrieved 21 April 2012.
- CaixaBank Group, Integrated Corporate Report 2012
- "Fainé releva hoy a Fornesa en la cúpula de Criteria". El País (in Spanish). 7 May 2009. Retrieved 2009-05-12.
- "A new conquistador". The Economist. 11 October 2007. Retrieved 2008-12-31.
- "Notice from the Technical Advisory Committee of the IBEX Indices concerning Aguas de Barcelona, S.A. and Altadis, S.A.". Sociedad de Bolsas. 29 January 2008. Retrieved 2008-01-29.
- Mallet, Victor (12 May 2011). "Caixabank to float as part of wider revamp". Financial Times. Retrieved 22 October 2011.
- Nicholson, Chris V. (13 May 2011). "La Caixa Moves to Take Banking Arm Public". The New York Times. Retrieved 22 October 2011.
- "CaixaBank becomes Spain's biggest bank by assets". BBC. 2012-03-27.
- "CaixaBank today approves an agreement of intent to merge with Banca Cívica, to create Spain’s leading financial group". Caixabank. 2012-03-26.
- "Presentation of Quarterly Results, 1Q2012". Caixabank. 31 March 2012. Retrieved 21 April 2012.
- "Press release on the acquisition of Itau shares by CaixaBank". BPI. Retrieved 21 April 2012.