Caixabank

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Caixabank, S.A.
TypeSociedad Anónima
Traded asBMADCABK
IndustryFinancial services
Founded2011
HeadquartersBarcelona, Spain
Key peopleIsidre Fainé Casas (Chairman), Juan María Nin (CEO)
ProductsUniversal banking, insurance, investment holdings
Profit€1.19 billion (2011)[1]
Total assets€270 billion (end 2011)[1]
Total equity€24.17 billion (end 2011)[1]
Employees26,993 (end 2011)[1]
Websitewww.caixabank.com
 
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Caixabank, S.A.
TypeSociedad Anónima
Traded asBMADCABK
IndustryFinancial services
Founded2011
HeadquartersBarcelona, Spain
Key peopleIsidre Fainé Casas (Chairman), Juan María Nin (CEO)
ProductsUniversal banking, insurance, investment holdings
Profit€1.19 billion (2011)[1]
Total assets€270 billion (end 2011)[1]
Total equity€24.17 billion (end 2011)[1]
Employees26,993 (end 2011)[1]
Websitewww.caixabank.com

Caixabank, S.A. (Catalan pronunciation: [ˌkaʃəˈbaŋ]), formerly Criteria CaixaCorp, is a financial services company, owned by the savings bank La Caixa with a 61% stake[citation needed]. 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,[2] and its CEO is Juan María Nin.

Contents

History

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.[3] The company was promoted to the IBEX 35 index in January 2008.[4]

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.[5] 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.[6] 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.[7][8]

Holdings

Significant declared shareholdings as of March 2012 were:[9]

Company% of share capital
Banco BPI30,1% (increased to 49% the 20th of April 2012 [10])
Boursorama20.73%
Grupo Financiero Inbursa20.0%
The Bank of East Asia16.9%
Repsol YPF12.8%
Erste Group9.77%
Telefónica5.4%
Bolsas y Mercados Españoles5.01%

References

  1. ^ a b c d "Annual Report 2011" (PDF). CaixaBank. http://www.caixabank.com/deployedfiles/caixabank/Estaticos/PDFs/Info_corporativa/integrated_corporate_report.pdf. Retrieved 21 April 2012.
  2. ^ "Fainé releva hoy a Fornesa en la cúpula de Criteria" (in Spanish). El País. 7 May 2009. http://www.elpais.com/articulo/economia/Faine/releva/hoy/Fornesa/cupula/Criteria/elpepueco/20090507elpepieco_5/Tes. Retrieved 2009-05-12.
  3. ^ "A new conquistador". The Economist. 11 October 2007. http://www.economist.com/finance/displaystory.cfm?story_id=9953349. Retrieved 2008-12-31.
  4. ^ "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. http://www.sbolsas.com/ing/ficheros/documentos/comiteasesor/AC02-08en.pdf. Retrieved 2008-01-29.
  5. ^ Mallet, Victor (12 May 2011). "Caixabank to float as part of wider revamp". Financial Times. http://www.ft.com/cms/s/0/328157a8-7ccf-11e0-994d-00144feabdc0.html#axzz1bWNeoUAK. Retrieved 22 October 2011.
  6. ^ Nicholson, Chris V. (13 May 2011). "La Caixa Moves to Take Banking Arm Public". The New York Times. http://dealbook.nytimes.com/2011/05/13/la-caixa-moves-to-take-banking-arm-public/. Retrieved 22 October 2011.
  7. ^ "CaixaBank becomes Spain's biggest bank by assets". BBC. 2012-03-27. http://www.bbc.co.uk/news/business-17521076.
  8. ^ "CaixaBank today approves an agreement of intent to merge with Banca Cívica, to create Spain’s leading financial group". Caixabank. 2012-03-26. http://press.lacaixa.es/caixabank/press-releases/caixabank-today-approves-an-agreement-of-intent-to-merge-with-banca-civica-to-create-spain-s-leading-financial-group__1775-c-15833__.html.
  9. ^ "Presentation of Quarterly Results, 1Q2012". Caixabank. 31 March 2012. http://www.caixabank.com/deployedfiles/caixabank/Estaticos/PDFs/Informacion_accionistas_inversores/Informacion_Economica_Financiera/Informe_Financer_1T12_ENG_DEF_CNMV.pdf. Retrieved 21 April 2012.
  10. ^ "Press release on the acquisition of Itau shares by CaixaBank". BPI. http://bpi.bancobpi.pt/storage/download/ficheiro.E2C9E097-1AA3-42A3-B7F9-9F2B158C48DB.1.pt.asp?id=76CE7DCC-0C70-4154-8AD4-94AF6D68EDBB. Retrieved 21 April 2012.

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