Caixa Bank Spain: A History of Growth and Change

Caixa Bank Spain has a rich history that spans over a century. It was founded in 1904 as a savings bank in Barcelona, Spain.

Caixa Bank Spain's early years were marked by a strong focus on serving the local community, with a network of branches that expanded rapidly across the country. By the 1920s, it had already established itself as one of the largest savings banks in Spain.

The bank's growth continued unabated, and by the 1990s, it had become one of the leading financial institutions in Spain.

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La Caixa ceased to conduct retail banking business in 2011, transferring its banking business entirely to a subsidiary called CaixaBank.

CaixaBank was formed in January 2011, with La Caixa holding a majority of the shares (74%). The new subsidiary took over the office network, client portfolio, assets, and bank capital of La Caixa.

In July 2011, another subsidiary called Criteria CaixaHolding was created, 100% owned by La Caixa, to bring together less attractive stocks such as real estate services and industrial holdings.

CaixaBank acquired Bankpyme's banking and fund management business in September 2011.

CaixaBank integrated Banca Cívica (Civic Bank) into its operations in March 2012, acquiring the entity for 979 million euros.

The "Civic Bank" brand was discarded, and the entity's clients, offices, and assets were transferred to CaixaBank.

The savings banks' logos that gave rise to the integration were maintained in CaixaBank's offices and communications in the territories of influence of each entity.

Banco de Valencia was integrated into CaixaBank in 2013, with the bank maintaining its brand in the provinces of Valencia and Castellón.

The offices of La Caixa and Banco de Valencia in the Region of Murcia were renamed "Banco de Murcia" in 2013, next to the star denoting La Caixa.

Caixa Bank Spain's company structure is a complex entity with a rich history. The bank's roots date back to 1904, when it was founded as a savings bank in Catalonia, Spain.

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The bank has undergone significant changes over the years, including a merger with Banco de Valencia in 2012. This merger created a new entity that would eventually become CaixaBank.

Caixa Bank is headquartered in Valencia, Spain, and has a significant presence in the country's financial sector. The bank operates through various business units, including retail banking, corporate banking, and asset management.

One of the key features of Caixa Bank's company structure is its decentralized organizational model. This model allows for greater autonomy at the regional level, enabling the bank to respond more effectively to local market conditions.

Caixa Bank has a strong commitment to innovation, with a dedicated innovation unit that focuses on developing new technologies and business models. This unit has been instrumental in driving the bank's digital transformation efforts.

The bank has a diverse range of products and services, including consumer and corporate banking, as well as asset management and private banking. Caixa Bank's product offerings are designed to meet the needs of a wide range of customers, from individuals to large corporations.

The Caja de Barcelona was the third largest savings bank in Spain at the time of the 1990 merger. This merger played a significant role in the bank's history.

On 29 January 2008, the Criteria CaixaCorp was included in IBEX 35, a major milestone for the bank.

La Caixa ceased to conduct retail banking business in 2011, transferring its banking business entirely to a subsidiary called CaixaBank, in which the majority of shares are held by La Caixa (74%).

CaixaBank remained at the helm of the banking business and the more financially attractive shares in foreign banks and in Telefónica and Repsol.

The Spanish financial crisis from 2008 to 2013 was a significant event in the country's economic history. In June 2009, the Spanish government initiated the Fund for Orderly Bank Restructuring (FROB), a program aimed at restructuring the banking sector.

CaixaBank, a major Spanish bank, was affected by the crisis. The bank facilitated a merger with Banco de Valencia in November 2012, a move that was a result of the FROB program. CaixaBank had 4,752 Spanish branches, a large network that it later adjusted.

The bank sold 13.1 billion pesos of shares in Grupo Financiero Inbursa SAB to bolster trading in the Mexican lender and replenish lost funds. This move was likely a response to the financial struggles caused by Spain's property crash. CaixaBank announced a gradual process of adjusting its branch networks in January 2013.

In 2014, La Caixa underwent a significant transformation into a banking foundation. This change was a result of the Savings Banks and Banking Foundations Law, which requires savings banks with indirect banking activity to be liquidated and transformed into foundations.

The transformation was approved by the general assembly of La Caixa on May 22, 2014. This marked a major shift in the organization's structure and operations.

The La Caixa Foundation was dissolved and liquidated, with its assets and liabilities transferred to the new La Caixa Banking Foundation. This process was completed on October 16, 2014.

The new foundation was established on June 17, 2014, and was led by President Isidro Fainé, who had previously been the president of CaixaBank.

In 2011, La Caixa underwent a significant restructuring, transferring its banking business to a subsidiary called CaixaBank.

CaixaBank was formed by taking over the banking business of La Caixa, including its office network, client portfolio, assets, and bank capital. La Caixa retained control with a 74% majority stake.

The reorganization allowed La Caixa to focus on its social work project, while CaixaBank took over the retail banking business.

CaixaBank decided to use the La Caixa brand in its offices and commercial relationships, reserving the CaixaBank name for institutional use.

In July 2011, Criteria CaixaHolding was created as a 100% subsidiary of La Caixa, bringing together less attractive assets such as real estate services and industrial holdings.

CaixaBank, being publicly traded, retained control of the banking business, the insurer SegurCaixa, and more financially attractive shares in foreign banks and Telefónica and Repsol.

In September 2011, CaixaBank acquired Bankpyme's banking and fund management business.

The acquisition of Cajasol, including Caja de Guadalajara, Caja Navarra, CajaCanarias, and Caja de Burgos, was completed in March 2012 for 979 million euros.

The acquired entities were integrated into CaixaBank, with the "Civic Bank" brand being discarded and the SIP being liquidated.

CaixaBank maintained the savings banks' logos in the offices and communications of the integrated entities, combining them with its own logo in the territories of influence of each entity.

The integration of Banco de Valencia into CaixaBank became fully effective in July 2013, after the merger deed was registered in the commercial register.

Banco de Valencia's offices in the Region of Murcia regained the name "Banco de Murcia" in 2013, next to the star denoting La Caixa.

CaixaBank Spain has undergone significant restructuring and mergers in recent years.

In January 2011, La Caixa reorganized its group, transferring its banking business to a subsidiary called CaixaBank.

CaixaBank became the new retail banking business, while La Caixa focused on social work projects.

In July 2011, another subsidiary called Criteria CaixaHolding was created, bringing together less attractive stocks like real estate services and industrial holdings.

CaixaBank, which is publicly traded, remained at the helm of the banking business and more financially attractive shares.

In September 2011, CaixaBank acquired Bankpyme's banking and fund management business.

The group acquired the SIP (Institutional Protection Scheme) formed by Cajasol, Caja Navarra, CajaCanarias, and Caja de Burgos for 979 million euros in March 2012.

CaixaBank integrated the SIP, transferring clients, offices, and assets, but maintained the savings banks' logos in their offices and communications.

On June 12, 2013, the General Shareholders' Meeting of Banco de Valencia approved its integration into CaixaBank.

The merger deed was registered on July 19, 2013, making the integration fully effective.

After the absorption of Banco de Valencia, some offices regained the name "Banco de Murcia" next to the La Caixa star.