Repsol to cease production at oil platform off Tarragona coast, last one in Spain
Company argues dramatic fall in quantity produced at Casablanca offshore drilling rig after four decades
repsol
CaixaBank meets all the new provision requirements and earns €48 million in just one term
Spain’s largest bank presented its results for 2012’s first quarter. Barcelona-based CaixaBank has reduced its profits by 84% compared to the same period last year in order to immediately fulfil all the new financial requirements decreed by the Spanish Government in February. The Catalan bank has allocated €2.44 billion in provisions in the last quarter. CaixaBank’s CEO explained they wanted to concentrate their efforts in this first quarter. Besides, the bank’s President explained that despite Repsol-YPF’s episode in Argentina, they will carry on with their expansion plan in the Americas, with the support of Carlos Slim, opening new branches in Chile, Colombia and the United States.
CatalunyaCaixa earns 448 million euros from the sale of its stake in Repsol
The Catalan savings bank owed the 1.63% of the oil company Repsol. By selling all its stakes, it earned 448 million, which represents a profit of 186 million euros. The financial entity made this operation to increase its core capital, in order to be ready for the banking stress test.