CaixaBank earns €4.8 bn first nine months of 2021 following Bankia merger

CaixaBank, Spain's largest lender, earned €4.801 bn from January to September 2021 following the merger with Bankia.

In terms of profit adjusted for merger-related expenses, the bank made €2.002 bn over the same months, up from the €726 million a year prior at the height of the pandemic.

CaixaBank is the largest bank in Spain with around 20 million clients (10 million digital), €623.8 billion in assets, and market capitalization of over €20.5 billion. Moreover, it also holds the leading position in the market shares for deposits (24%), loans (26%), and long-term savings (29%). 

Despite the merger, the name CaixaBank was kept, as were the legal headquarters in Valencia, where the bank relocated from Barcelona in 2017 following political tension and economic uncertainty in the wake of the Catalan independence bid. Central headquarters are divided between Barcelona and Madrid.