caixabank

Bank attributes decline to decision to offload its stake in Repsol energy company

Rise attributed to strength of core business, while Banc Sabadell registers 54% fall in gains last year

Largest Catalan bank to cut 7.3% of its staff

Strategic plan 2019-2021 aims to “optimize” network in Spain and prioritize digital banking

Aigües de Barcelona, CaixaBank, Naturgy, Seat and Telefónica come together for pioneering initiative to find ways to improve clients' experience

Madrid regrets "important damage" caused to economy after referendum

Ara newspaper says state authorities and crown put orchestrated pressure on firms to flee the country immediately after October referendum

Ara newspaper says state authorities and crown put orchestrated pressure on firms to flee the country immediately after October referendum

The Catalan financial giant expects the deal to go through at the end of 2018 or start of 2019

Despite suspecting clients were involved in illegal activities, bank did not act with “due diligence”

CaixaBank and Banc Sabadell close 2017 with big turnover, despite crisis between Catalonia and Spain

There is “no risk of losing savings” on the road to independence, argues the Ministry of Economy

CaixaBank, Catalonia's largest financial group and one of the most significant companies in the whole of Spain, reported this Friday net attributable profit of €970 million for the first nine months of 2016, down 2.6% on the same period of 2015, which included a number of one-off impacts associated with the integration of Barclays Bank, SAU. Pre-tax profit amounted to €1,314 million, up 45.2% in comparison to last year.  Impairment losses on financial assets and others totalled €1,177 million, a 33.3% decreased in comparison to last year on account of the reduction in loan-loss provisions.

The Spanish Bank Association (AEB in Spanish) and the Spanish Confederation of Saving Banks (CECA in Spanish) warned about the “risks” of Catalonia’s independence. In an official announcement made this Friday, both associations assured that all banks with a presence in Catalonia “would face severe problems of judicial insecurity” in the event of a Unilateral Declaration of Independence after the 27-S elections. They outlined that “any political decision which would imply breaking the rules in force” would result in “exclusion from the EU and the Eurozone” for Catalonia. The Catalan Finance Minister, Andreu Mas-Colell, described the Spanish government as “being irresponsible” for pushing the banking sector to be against the independence of Catalonia. He regretted that such “a delicate sector” was used as an “artillery weapon”. 

Veremonte has walked out on the BCN World project, the largest holiday resort in Europe based in the Costa Daurada, near Tarragona, as first announced by the Catalan Business Minister, Felip Puig, on Thursday and later confirmed by the company itself. However, Puig has assured that this will not impede the project's continuation as companies such as Melco, Hard Rock, Grup Peralada and Value Retail remain committed to it. Veremonte did not provide any further details about its decision. The investment company was initially leading the initiative and had reached an agreement with La Caixa bank to buy 500 hectares of land in 2012. However, it missed the final deadline last December to do so and the Catalan Government had to jump in to guarantee the project's continuation, reaching an agreement with La Caixa for the land. However, Veremonte was still linked to the initiative through the casino licences' tender, which it bidding for in partnership with Hard Rock and Melco.