<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[Calm technology: cuando la innovación busca el bienestar mental]]> https://blog.caixabank.es/?p=23645 2021-04-08T06:12:13.0Z 2021-04-08T06:12:13.0Z <![CDATA[Calm technology: cuando la innovación busca el bienestar mental]]> 0 <![CDATA[Innovation to fuel recovery: Tech response to Covid-19, with Pere Nebot]]> https://blog.caixabank.es/?p=23645 2021-04-08T00:00:00.0Z 2021-04-08T00:00:00.0Z <![CDATA[Innovation to fuel recovery: Tech response to Covid-19, with Pere Nebot]]> In the final chapter of CaixaBank’s Masterclass series in collaboration with The Banker magazine, Pere Nebot, CaixaBank’s CIO, discusses how digitalisation and investing in IT capacities helps banks to be more resilient when unexpected shocks arise. 

Following the outbreak of the Covid-19 pandemic in March 2020, almost 100% of CaixaBank staff had to start working remotely with no previous experience at such a scale. In the last decade, CaixaBank has made significant investments in providing mobility and work-from-home tools to their employees, which proved crucial in order to respond rapidly to the crisis and ultimately enable employees to focus their efforts on staying safe, while continuing to serve customers’ needs. 

Investments in technologies that allow flexibility such as cloud computing, as well as partnerships with world-class technology partners with economies of scale that are more costly for banks to invest in alone, were also a crucial element to help CaixaBank remain resilient, as well as continue to innovate in terms of products and services that meet new customer needs arisen from the pandemic. 

To view the other videos in The Banker Masterclass series “Innovation to fuel recovery”, please visit the links below.

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In the final chapter of CaixaBank’s Masterclass series in collaboration with The Banker magazine, Pere Nebot, CaixaBank’s CIO, discusses how digitalisation and investing in IT capacities helps banks to be more resilient when unexpected shocks arise. 

Following the outbreak of the Covid-19 pandemic in March 2020, almost 100% of CaixaBank staff had to start working remotely with no previous experience at such a scale. In the last decade, CaixaBank has made significant investments in providing mobility and work-from-home tools to their employees, which proved crucial in order to respond rapidly to the crisis and ultimately enable employees to focus their efforts on staying safe, while continuing to serve customers’ needs. 

Investments in technologies that allow flexibility such as cloud computing, as well as partnerships with world-class technology partners with economies of scale that are more costly for banks to invest in alone, were also a crucial element to help CaixaBank remain resilient, as well as continue to innovate in terms of products and services that meet new customer needs arisen from the pandemic. 

To view the other videos in The Banker Masterclass series “Innovation to fuel recovery”, please visit the links below.

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<![CDATA[CaixaBank begins brand unification in its retail branch network following Bankia merger]]> https://blog.caixabank.es/?p=23645 2021-04-05T12:00:00.0Z 2021-04-05T12:00:00.0Z <![CDATA[CaixaBank begins brand unification in its retail branch network following Bankia merger]]> CaixaBank has today started the replacement of the Bankia brand process in retail branches.

The work involves changing the interior and exterior signage of the entire network, as well as the customisation of the ATMs’ image. This process will take place progressively and it is expected to be completed in 9 weeks.

In the Spanish autonomous communities where today, Monday, is a bank holiday, such as Catalonia, the works on the retail branches will begin from tomorrow, Tuesday, the 6th. 

The rebranding started during the past week, once the legal merger had completed, in Bankia’s corporate buildings, including operational headquarters in Madrid and the former Bankia’s headquarters in Valencia, among others.

The undisputed leader in Spain's financial sector

The merged bank, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, has €623.8 billion in total assets in Spain, a volume that will make it the largest bank in the domestic market, with a relevant position at a European level.

The new Group consolidates its leadership in retail banking in Spain, with close to 20 million customers, and occupying the number one position in terms of market share in all key products: deposits (24%), loans (26%) and long-term savings (29%), which includes savings insurance, mutual funds and pension plans.

The bank offers a balanced and diversified geographical presence, with the most extensive and specialised branch network in the sector, and aims to maintain a commitment to the community and to financial inclusion that CaixaBank and Bankia have always demonstrated. The combined entity has a presence in approximately 2,200 municipalities, and it is the only entity with representation in 350 municipalities(1).

The extent of the network's penetration together with its digital capabilities - with 10 million digital customers in Spain - will allow it to continue to improve customer experience.

 

(1): Figure resulting after the integration of both CaixaBank and Bankia’s branch network

 

]]>
CaixaBank has today started the replacement of the Bankia brand process in retail branches.

The work involves changing the interior and exterior signage of the entire network, as well as the customisation of the ATMs’ image. This process will take place progressively and it is expected to be completed in 9 weeks.

In the Spanish autonomous communities where today, Monday, is a bank holiday, such as Catalonia, the works on the retail branches will begin from tomorrow, Tuesday, the 6th. 

The rebranding started during the past week, once the legal merger had completed, in Bankia’s corporate buildings, including operational headquarters in Madrid and the former Bankia’s headquarters in Valencia, among others.

The undisputed leader in Spain's financial sector

The merged bank, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, has €623.8 billion in total assets in Spain, a volume that will make it the largest bank in the domestic market, with a relevant position at a European level.

The new Group consolidates its leadership in retail banking in Spain, with close to 20 million customers, and occupying the number one position in terms of market share in all key products: deposits (24%), loans (26%) and long-term savings (29%), which includes savings insurance, mutual funds and pension plans.

The bank offers a balanced and diversified geographical presence, with the most extensive and specialised branch network in the sector, and aims to maintain a commitment to the community and to financial inclusion that CaixaBank and Bankia have always demonstrated. The combined entity has a presence in approximately 2,200 municipalities, and it is the only entity with representation in 350 municipalities(1).

The extent of the network's penetration together with its digital capabilities - with 10 million digital customers in Spain - will allow it to continue to improve customer experience.

 

(1): Figure resulting after the integration of both CaixaBank and Bankia’s branch network

 

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<![CDATA[CaixaBank's Board of Directors appoints José Ignacio Goirigolzarri as executive chairman]]> https://blog.caixabank.es/?p=23645 2021-03-30T00:00:00.0Z 2021-03-30T00:00:00.0Z <![CDATA[CaixaBank's Board of Directors appoints José Ignacio Goirigolzarri as executive chairman]]>
The new Board of Directors of CaixaBank, Spain’s leading bank, has met for the first time today, following the registration of the deed of its merger with Bankia with the Mercantile Registry on Friday 26 March.

At this first meeting, which took place in Valencia, José Ignacio Goirigolzarri has been appointed as CaixaBank's new executive chairman.

Following the meeting, Gorigolzarri said that “the Bankia and CaixaBank merger operation is an enormously exciting and ambitious project, as its goal is to lead the transformation of the Spanish banking sector and contribute to the development of Spanish companies and wellbeing of families at all times, especially in the current situation”.

The Board of Directors consists of 15 members, 60% of whom are independent. Women represent 40%.

The composition of the new Board of Directors is as follows: José Ignacio Goirigolzarri Tellaeche (chairman), Tomás Muniesa Arantegui (vice-chairman, proprietary, CriteriaCaixa), Gonzalo Gortázar Rotaeche (CEO), Joaquín Ayuso García (independent), Francisco Javier Campo García (independent), Eva Castillo Sanz (independent), Fernando Ulrich (other external director), María Verónica Fisas Vergés (independent), Cristina Garmendia Mendizábal (independent), José Serna Masiá (proprietary, CriteriaCaixa), María Amparo Moraleda Martínez (independent), Eduardo Javier Sanchiz Irazu (independent), Teresa Santero (representing FROB controlling shareholders), John Shepard Reed (independent) and Koro Usarraga Unsain (independent).

New Management Committee

CaixaBank's Board of Directors also approved the new composition of the Management Committee proposed on 18 February.

The new CaixaBank Management Committee will be overseen by Gonzalo Gortázar, as CEO of CaixaBank, and will include: Juan Alcaraz (head of retail, business and private banking); Xavier Coll (chief human resources officer), who will leave his position on 1 January 2022, when David López will succeed him; Jordi Mondéjar (chief risk officer); Iñaki Badiola (director of CIB and international banking); Luis Javier Blas (chief operating officer); Matthias Bulach (head of financial accounting, control and capital); Manuel Galarza (head of control and compliance); María Luisa Martínez (head of communications and institutional relations); Javier Pano (chief financial officer); Marisa Retamosa (head of internal audit); Eugenio Solla (chief sustainability officer); Javier Valle (head of insurance); and Óscar Calderón (board secretary and general counsel).

Ordinary General Shareholders’ Meeting, the 14th of May

Finally, the Board of Directors of CaixaBank has agreed to call the Ordinary General Shareholders' Meeting for the 14th of May 2021, which, should the public health situation allow, will be held in person in Valencia, and which shareholders will also be able to attend online.

 

Download video footage of CaixaBank’s  Board of Directors

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The new Board of Directors of CaixaBank, Spain’s leading bank, has met for the first time today, following the registration of the deed of its merger with Bankia with the Mercantile Registry on Friday 26 March.

At this first meeting, which took place in Valencia, José Ignacio Goirigolzarri has been appointed as CaixaBank's new executive chairman.

Following the meeting, Gorigolzarri said that “the Bankia and CaixaBank merger operation is an enormously exciting and ambitious project, as its goal is to lead the transformation of the Spanish banking sector and contribute to the development of Spanish companies and wellbeing of families at all times, especially in the current situation”.

The Board of Directors consists of 15 members, 60% of whom are independent. Women represent 40%.

The composition of the new Board of Directors is as follows: José Ignacio Goirigolzarri Tellaeche (chairman), Tomás Muniesa Arantegui (vice-chairman, proprietary, CriteriaCaixa), Gonzalo Gortázar Rotaeche (CEO), Joaquín Ayuso García (independent), Francisco Javier Campo García (independent), Eva Castillo Sanz (independent), Fernando Ulrich (other external director), María Verónica Fisas Vergés (independent), Cristina Garmendia Mendizábal (independent), José Serna Masiá (proprietary, CriteriaCaixa), María Amparo Moraleda Martínez (independent), Eduardo Javier Sanchiz Irazu (independent), Teresa Santero (representing FROB controlling shareholders), John Shepard Reed (independent) and Koro Usarraga Unsain (independent).

New Management Committee

CaixaBank's Board of Directors also approved the new composition of the Management Committee proposed on 18 February.

The new CaixaBank Management Committee will be overseen by Gonzalo Gortázar, as CEO of CaixaBank, and will include: Juan Alcaraz (head of retail, business and private banking); Xavier Coll (chief human resources officer), who will leave his position on 1 January 2022, when David López will succeed him; Jordi Mondéjar (chief risk officer); Iñaki Badiola (director of CIB and international banking); Luis Javier Blas (chief operating officer); Matthias Bulach (head of financial accounting, control and capital); Manuel Galarza (head of control and compliance); María Luisa Martínez (head of communications and institutional relations); Javier Pano (chief financial officer); Marisa Retamosa (head of internal audit); Eugenio Solla (chief sustainability officer); Javier Valle (head of insurance); and Óscar Calderón (board secretary and general counsel).

Ordinary General Shareholders’ Meeting, the 14th of May

Finally, the Board of Directors of CaixaBank has agreed to call the Ordinary General Shareholders' Meeting for the 14th of May 2021, which, should the public health situation allow, will be held in person in Valencia, and which shareholders will also be able to attend online.

 

Download video footage of CaixaBank’s  Board of Directors

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<![CDATA[José Ignacio Goirigolzarri and Gonzalo Gortázar convey to staff a message of unity, confidence and responsibility ahead of the triple challenge of 2021: public health, economic recovery and merger integration]]> https://blog.caixabank.es/?p=23645 2021-03-29T13:00:00.0Z 2021-03-29T13:00:00.0Z <![CDATA[José Ignacio Goirigolzarri and Gonzalo Gortázar convey to staff a message of unity, confidence and responsibility ahead of the triple challenge of 2021: public health, economic recovery and merger integration]]>
On the first day of operations following the completion of the legal merger between CaixaBank and Bankia on Friday 26 March, CaixaBank chairman José Ignacio Goirigolzarri and CEO Gonzalo Gortázar met remotely with close to 8,000 of the bank's directors, and last Friday they addressed the staff in a corporate video.

Both executives conveyed to professionals at the entity a message of unity, confidence and responsibility in light of the challenge ahead with the integration, to be carried out alongside the management of the public health and economic crises throughout the 2021 financial year.

“Leading the transformation of the financial sector”

José Ignacio Goirigolzarri expressed his “joy and pride to be forming the country's leading financial group”, although, at the same time, he pointed out that “we must also be aware of our enormous responsibility and the complex environment we face”.

In his first message to the entire staff, Goirigolzarri said that “we must face this new phase with an attitude open to change and transformation. And this attitude is only made possible by remaining intellectually humble and by being determined in our actions and in the implementation, which is what transforms reality and creates value”.

In addition, CaixaBank's executive chairman, pending tomorrow’s ratification by the Board of Directors, also wanted to highlight the importance of the team. “A merger between two large institutions requires a great deal of collaboration, team loyalty and plenty of generosity,” he adds.

In this regard, Goirigolzarri, stressed that “we must work as a single team to achieve the ambitious goal of leading the transformation of our sector, and do so in close collaboration with our customers and society”.

“The whole organisation must be focused on customer service”

For his part, CEO Gonzalo Gortázar celebrated “the culmination of more than six months of preparatory work to make this project a reality” and “warmly welcomed everyone from Bankia to CaixaBank”.

In his speech, Gortázar focused on customers: “The whole organisation must be focused on customer service. Their satisfaction has been, and will continue to be, the key to our success, and we need to help them overcome the enormous challenges they are facing”.

In addition to customers, the CEO repeated that “the key to success lies in us, in the team. We have already become a single team. We make no distinction of being from one bank or the other. Together we have an impressive team, and we will always play as a team, rowing in the same direction. This is how we will reap success after success.”

He closed on an optimistic note: “We must have the utmost confidence in ourselves, in this new, stronger-than-ever, CaixaBank which will allow us to achieve new successes from a position of leadership in the Spanish banking market. This is a tremendous opportunity and we must seize it”.

Welcome kit for 15.918 Bankia professionals

On the other hand, a total of 15,918 Bankia professionals have received a welcome pack today, which includes a video in which several employees share welcome messages, as well as the employee card.

]]>

On the first day of operations following the completion of the legal merger between CaixaBank and Bankia on Friday 26 March, CaixaBank chairman José Ignacio Goirigolzarri and CEO Gonzalo Gortázar met remotely with close to 8,000 of the bank's directors, and last Friday they addressed the staff in a corporate video.

Both executives conveyed to professionals at the entity a message of unity, confidence and responsibility in light of the challenge ahead with the integration, to be carried out alongside the management of the public health and economic crises throughout the 2021 financial year.

“Leading the transformation of the financial sector”

José Ignacio Goirigolzarri expressed his “joy and pride to be forming the country's leading financial group”, although, at the same time, he pointed out that “we must also be aware of our enormous responsibility and the complex environment we face”.

In his first message to the entire staff, Goirigolzarri said that “we must face this new phase with an attitude open to change and transformation. And this attitude is only made possible by remaining intellectually humble and by being determined in our actions and in the implementation, which is what transforms reality and creates value”.

In addition, CaixaBank's executive chairman, pending tomorrow’s ratification by the Board of Directors, also wanted to highlight the importance of the team. “A merger between two large institutions requires a great deal of collaboration, team loyalty and plenty of generosity,” he adds.

In this regard, Goirigolzarri, stressed that “we must work as a single team to achieve the ambitious goal of leading the transformation of our sector, and do so in close collaboration with our customers and society”.

“The whole organisation must be focused on customer service”

For his part, CEO Gonzalo Gortázar celebrated “the culmination of more than six months of preparatory work to make this project a reality” and “warmly welcomed everyone from Bankia to CaixaBank”.

In his speech, Gortázar focused on customers: “The whole organisation must be focused on customer service. Their satisfaction has been, and will continue to be, the key to our success, and we need to help them overcome the enormous challenges they are facing”.

In addition to customers, the CEO repeated that “the key to success lies in us, in the team. We have already become a single team. We make no distinction of being from one bank or the other. Together we have an impressive team, and we will always play as a team, rowing in the same direction. This is how we will reap success after success.”

He closed on an optimistic note: “We must have the utmost confidence in ourselves, in this new, stronger-than-ever, CaixaBank which will allow us to achieve new successes from a position of leadership in the Spanish banking market. This is a tremendous opportunity and we must seize it”.

Welcome kit for 15.918 Bankia professionals

On the other hand, a total of 15,918 Bankia professionals have received a welcome pack today, which includes a video in which several employees share welcome messages, as well as the employee card.

]]>
0
<![CDATA[CaixaBank launches first institutional campaign as the leading bank in the Spanish financial sector]]> https://blog.caixabank.es/?p=23645 2021-03-28T00:00:00.0Z 2021-03-28T00:00:00.0Z <![CDATA[CaixaBank launches first institutional campaign as the leading bank in the Spanish financial sector]]> CaixaBank, the leading bank in Spain, will unveil on 29 March its first institutional publicity campaign following its merger with Bankia. Under the slogan “Being first by your side”, the campaign highlights CaixaBank's position as the leader in the Spanish banking sector following the merger with Bankia, with total assets of €623.8 billion, close to 20 million customers, leading market share for all key products, and the most extensive and specialised branch network in the sector, with a presence in around 2,200 municipalities.

‘CaixaBank and Bankia are merging to become Spain’s leading bank and to be first in serving millions of families. To be first in supporting the self-employed and businesses, in believing in young people and in caring for the elderly. Being first by your side.’ This is the narrative thread of the campaign which, in addition to stressing the position of the leading bank, emphasises that CaixaBank is a customer-oriented bank, one which offers a specialised, segmented banking model, with a range of products and services adapted to the needs of each customer profile. 

True to its values

The campaign underscores the fact that CaixaBank is a different bank, true to its foundational values and origins, and fully aware of the key role it plays in people's lives.

The campaign, developed by Comunica+A, showcases CaixaBank’s closeness to customers, its responsible banking model, and a clear commitment to people’s well-being and the progress of society as a whole.

The entity, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, will be carrying out the campaign across various media: in-branch POS material, television, radio, press, digital media and social networks.

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CaixaBank, the leading bank in Spain, will unveil on 29 March its first institutional publicity campaign following its merger with Bankia. Under the slogan “Being first by your side”, the campaign highlights CaixaBank's position as the leader in the Spanish banking sector following the merger with Bankia, with total assets of €623.8 billion, close to 20 million customers, leading market share for all key products, and the most extensive and specialised branch network in the sector, with a presence in around 2,200 municipalities.

‘CaixaBank and Bankia are merging to become Spain’s leading bank and to be first in serving millions of families. To be first in supporting the self-employed and businesses, in believing in young people and in caring for the elderly. Being first by your side.’ This is the narrative thread of the campaign which, in addition to stressing the position of the leading bank, emphasises that CaixaBank is a customer-oriented bank, one which offers a specialised, segmented banking model, with a range of products and services adapted to the needs of each customer profile. 

True to its values

The campaign underscores the fact that CaixaBank is a different bank, true to its foundational values and origins, and fully aware of the key role it plays in people's lives.

The campaign, developed by Comunica+A, showcases CaixaBank’s closeness to customers, its responsible banking model, and a clear commitment to people’s well-being and the progress of society as a whole.

The entity, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, will be carrying out the campaign across various media: in-branch POS material, television, radio, press, digital media and social networks.

]]>
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<![CDATA[CaixaBank begins replacing signage on Bankia buildings]]> https://blog.caixabank.es/?p=23645 2021-03-27T00:00:00.0Z 2021-03-27T00:00:00.0Z <![CDATA[CaixaBank begins replacing signage on Bankia buildings]]>
Following the legal closing of the merger, CaixaBank, Spain’s leading bank, has initiated the process of replacing the Bankia brand on landmark buildings and throughout the branch network.

Today, part of the brand changes have been carried out on the building that houses Bankia's corporate headquarters in Madrid, at Paseo de la Castellana, 189. Specifically, the north and south façades of the tower, visible from Paseo de la Castellana, have already been fitted with the new signage, the CaixaBank star logo. Installations are expected to be completed tomorrow on the west façade, where, in addition to the star, the CaixaBank sign will be erected.

The adaptation of other Bankia buildings has also been initiated today. The installations will continue over the next seven days.

The rebranding process at the branch network level will be gradual, starting on 5 April and lasting for about nine weeks.

Digital channels (web, mobile and ATMs) will be customised to incorporate CaixaBank's image with Bankia's until full technological integration has been completed. Bankia's commercial website will also remain active until technological integration has been completed, planned for the end of the year. 

Creation of the undisputed leader in the Spanish financial system

The combined entity, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, will have €623.8 billion in total assets in Spain, a volume that will make it the largest bank in the domestic market, with an important position at a European level. 

The new group solidifies its leadership in retail banking in Spain with close to 20 million customers and the largest market share in all key products: deposits (24%), loans (26%) and long-term savings (29%), which includes savings insurance, mutual funds and pension plans.

The bank has a balanced and diversified geographic presence, with the most extensive and specialised branch network in the sector, and the desire to maintain close ties to the community and financial inclusion that CaixaBank and Bankia have always demonstrated. The combined entity will have a presence in approximately 2,200 municipalities, and it will be the only entity with representation in 299 municipalities.

The extent of the network's penetration together with its digital capabilities - 10 million digital customers in Spain - will allow it to continue improving customer experience.

]]>

Following the legal closing of the merger, CaixaBank, Spain’s leading bank, has initiated the process of replacing the Bankia brand on landmark buildings and throughout the branch network.

Today, part of the brand changes have been carried out on the building that houses Bankia's corporate headquarters in Madrid, at Paseo de la Castellana, 189. Specifically, the north and south façades of the tower, visible from Paseo de la Castellana, have already been fitted with the new signage, the CaixaBank star logo. Installations are expected to be completed tomorrow on the west façade, where, in addition to the star, the CaixaBank sign will be erected.

The adaptation of other Bankia buildings has also been initiated today. The installations will continue over the next seven days.

The rebranding process at the branch network level will be gradual, starting on 5 April and lasting for about nine weeks.

Digital channels (web, mobile and ATMs) will be customised to incorporate CaixaBank's image with Bankia's until full technological integration has been completed. Bankia's commercial website will also remain active until technological integration has been completed, planned for the end of the year. 

Creation of the undisputed leader in the Spanish financial system

The combined entity, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, will have €623.8 billion in total assets in Spain, a volume that will make it the largest bank in the domestic market, with an important position at a European level. 

The new group solidifies its leadership in retail banking in Spain with close to 20 million customers and the largest market share in all key products: deposits (24%), loans (26%) and long-term savings (29%), which includes savings insurance, mutual funds and pension plans.

The bank has a balanced and diversified geographic presence, with the most extensive and specialised branch network in the sector, and the desire to maintain close ties to the community and financial inclusion that CaixaBank and Bankia have always demonstrated. The combined entity will have a presence in approximately 2,200 municipalities, and it will be the only entity with representation in 299 municipalities.

The extent of the network's penetration together with its digital capabilities - 10 million digital customers in Spain - will allow it to continue improving customer experience.

]]>
0
<![CDATA[CaixaBank completes legal procedures for merger with Bankia to become the leading bank in Spain]]> https://blog.caixabank.es/?p=23645 2021-03-26T09:00:00.0Z 2021-03-26T09:00:00.0Z <![CDATA[CaixaBank completes legal procedures for merger with Bankia to become the leading bank in Spain]]>
CaixaBank, Spain’s leading bank, has today completed the legal formalities of the merger with Bankia, following the registration of the merger deed with the Commercial Registry. The deal, which involved the creation of the leading entity in the Spanish financial sector, was approved by a large majority at the Extraordinary General Shareholders' Meetings of both CaixaBank and Bankia last December and has obtained all the corresponding authorisations.

The operation thus complies with the timetable established last September to complete the legal merger in the first quarter of 2021 and maintains the objective of completing the operational integration of the two entities before the end of 2021.

CaixaBank, a key organisation in supporting the economy

CaixaBank’s chairman, José Ignacio Goirigolzarri, pending his appointment by the Board of Directors in the coming days, and the CEO, Gonzalo Gortázar, have said that the bank's objective is to continue to be a key player in supporting families and companies, and to become an important contributor to the socio-economic recovery of our country.

For Goirigolzarri, “the merger between CaixaBank and Bankia marks a milestone in the history of the Spanish financial system; a project that we are taking on with tremendous enthusiasm, while remaining aware that overcoming the challenges that lie ahead will be no minor feat”. In this regard, Goirigolzarri added that, “we face this challenge from a position of strength that allows us to be an active part of the solution to the current crisis and, above all, to be the organisation that is closest to our customers and to society”.

For his part, Gortázar stressed that, “the merger of CaixaBank and Bankia makes us the undisputed leader in the financial sector in Spain. A leadership that we will continue to place at the service of our customers and of society as a whole, in line with our foundational origins and our social commitment”. According to Gortázar, “a transformational operation like this is necessary to adapt to a new environment in which conditions have changed as a result of technological disruption and the macroeconomic environment”.

Creation of the undisputed leader in Spain's financial sector

CaixaBank will have close to 20 million customers in Spain and €623.8 billion in total assets, a volume that will make it the largest bank in the domestic market, with a relevant position at a European level, and a market capitalisation of more than €20.5 billion.

CaixaBank will also consolidate its leadership in retail banking in Spain, occupying the number one position in terms of market share in all key products: deposits (24%), loans (26%) and long-term savings (29%), which includes savings insurance, mutual funds and pension plans.

The bank offers a balanced and diversified geographical presence, with the most extensive and specialised branch network in the sector, and aims to maintain a commitment to the community and to financial inclusion that CaixaBank and Bankia have always demonstrated. The combined entity will have a presence in approximately 2,200 municipalities, and it will be the only entity with representation in 299 municipalities.

The extent of the network's penetration together with its digital capabilities - with 10 million digital customers in Spain - will allow it to continue to improve customer experience.

CaixaBank's new shares will be listed on 29 March

On 17 September 2020, the Boards of Directors of both banks approved the exchange ratio of 0.6845 new ordinary CaixaBank shares for each Bankia share. The agreed price includes a 20% premium on the exchange ratio at the close of trading on 3 September, before the market was informed of the negotiations around the proposed transaction. In addition, it represents a 28% premium over the average exchange ratio in the three months prior to the announcement.

Considering the total number of outstanding Bankia shares that could participate in the exchange, the maximum number of CaixaBank shares to be issued to meet the merger exchange amounts to 2,079,209,002 ordinary CaixaBank shares with a nominal value of one euro each.

Bankia shares will cease trading on 26 March at market closing time and the new CaixaBank shares issued as a result of the merger will begin to trade on 29 March. The new shares will give their holders the same rights as the rest of CaixaBank's shareholders.

Customers will not be required to make any arrangements

Despite the legal closing, which was completed today, customer operations will remain virtually unchanged until the migration of each institution's operating platform, a process which is expected to be completed before the end of the year.

Current accounts and savings account documents will be renumbered. This change, however, will not affect direct debits, transfers or payments received. Therefore, it will not be necessary for customers to make any arrangements. Existing contracts for loans and mortgages will also maintain the agreed terms and conditions.

Bankia cards can be used until the user activates the CaixaBank card they will receive at home, following the integration of IT systems.

In addition, as of today, all CaixaBank and Bankia customers will be able to make debit withdrawals with their cards, free of charge, at the more than 14,000 ATMs across the joint network in Spain that both banks will offer after the merger.

Gradual replacement of the Bankia brand

The merged entity will maintain the CaixaBank brand and, having completed the legal merger, the Bankia brand will be replaced at branches and other landmark buildings.

The brand transition process will be gradual, but will begin during the first days of integration, with the process of replacing signage on landmark buildings expected to be completed within the next week. The replacement of signage in branches will also begin at the same time and will continue for several weeks.

Digital channels (web, mobile and ATMs) will be customised to incorporate CaixaBank's image with Bankia's until full technological integration has been completed.

New Board of Directors and new Management Committee

The Board of Directors will consist of 15 members, 60% of whom will be independent. Women make up 40%.

On 3 December 2020, at CaixaBank's Extraordinary General Shareholders' Meeting the appointment of new directors conditional to the merger was approved: José Ignacio Goirigolzarri Tellaeche, Joaquín Ayuso García, Francisco Javier Campo García, Eva Castillo Sanz, Teresa Santero Quintillá and Fernando Ulrich. All of the new directors will join the current CaixaBank directors: Gonzalo Gortázar Rotaeche (CEO), Tomás Muniesa Arantegui (Vice-Chairman), José Serna Masiá, María Verónica Fisas Vergés, Cristina Garmendia Mendizábal, María Amparo Moraleda Martínez, Eduardo Javier Sanchiz Irazu, John Shepard Reed and Koro Usarraga Unsain.

As indicated in the merger plan, the combined entity resulting from the merger will be chaired by José Ignacio Goirigolzarri, current chairman of Bankia, once he is appointed by CaixaBank's new Board of Directors, which is scheduled to meet in the coming days.

The current CEO, Gonzalo Gortázar, will continue as CaixaBank's chief executive, reporting directly to the Board of Directors and overseeing the Management Committee.

In addition, at its meeting on 18 February, the CaixaBank Board of Directors proposed a new composition of the Management Committee. This proposal will have to be approved by the Board of Directors at its first post-merger meeting.

The new CaixaBank Management Committee will be overseen by Gonzalo Gortázar, as CEO of CaixaBank, and will include Juan Alcaraz (head of retail, business and private banking); Xavier Coll (chief human resources officer), who will leave his position on 1 January 2022, when David López will succeed him; Jordi Mondéjar (chief risk officer); Iñaki Badiola (director of CIB and international banking); Luis Javier Blas (chief operating officer); Matthias Bulach (head of financial accounting, control and capital); Manuel Galarza (head of control and compliance); María Luisa Martínez (head of communications and institutional relations); Javier Pano (chief financial officer); Marisa Retamosa (head of internal audit); Eugenio Solla (chief sustainability officer); Javier Valle (head of insurance); and Óscar Calderón (board secretary and general counsel).

The Management Committee also proposed a new Regional Divisions structure which, in turn, will also be submitted for approval to the new Management Committee formed following the merger with Bankia. Under this new regional reorganisation, CaixaBank will be geographically divided into 14 regional divisions.   

 

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CaixaBank, Spain’s leading bank, has today completed the legal formalities of the merger with Bankia, following the registration of the merger deed with the Commercial Registry. The deal, which involved the creation of the leading entity in the Spanish financial sector, was approved by a large majority at the Extraordinary General Shareholders' Meetings of both CaixaBank and Bankia last December and has obtained all the corresponding authorisations.

The operation thus complies with the timetable established last September to complete the legal merger in the first quarter of 2021 and maintains the objective of completing the operational integration of the two entities before the end of 2021.

CaixaBank, a key organisation in supporting the economy

CaixaBank’s chairman, José Ignacio Goirigolzarri, pending his appointment by the Board of Directors in the coming days, and the CEO, Gonzalo Gortázar, have said that the bank's objective is to continue to be a key player in supporting families and companies, and to become an important contributor to the socio-economic recovery of our country.

For Goirigolzarri, “the merger between CaixaBank and Bankia marks a milestone in the history of the Spanish financial system; a project that we are taking on with tremendous enthusiasm, while remaining aware that overcoming the challenges that lie ahead will be no minor feat”. In this regard, Goirigolzarri added that, “we face this challenge from a position of strength that allows us to be an active part of the solution to the current crisis and, above all, to be the organisation that is closest to our customers and to society”.

For his part, Gortázar stressed that, “the merger of CaixaBank and Bankia makes us the undisputed leader in the financial sector in Spain. A leadership that we will continue to place at the service of our customers and of society as a whole, in line with our foundational origins and our social commitment”. According to Gortázar, “a transformational operation like this is necessary to adapt to a new environment in which conditions have changed as a result of technological disruption and the macroeconomic environment”.

Creation of the undisputed leader in Spain's financial sector

CaixaBank will have close to 20 million customers in Spain and €623.8 billion in total assets, a volume that will make it the largest bank in the domestic market, with a relevant position at a European level, and a market capitalisation of more than €20.5 billion.

CaixaBank will also consolidate its leadership in retail banking in Spain, occupying the number one position in terms of market share in all key products: deposits (24%), loans (26%) and long-term savings (29%), which includes savings insurance, mutual funds and pension plans.

The bank offers a balanced and diversified geographical presence, with the most extensive and specialised branch network in the sector, and aims to maintain a commitment to the community and to financial inclusion that CaixaBank and Bankia have always demonstrated. The combined entity will have a presence in approximately 2,200 municipalities, and it will be the only entity with representation in 299 municipalities.

The extent of the network's penetration together with its digital capabilities - with 10 million digital customers in Spain - will allow it to continue to improve customer experience.

CaixaBank's new shares will be listed on 29 March

On 17 September 2020, the Boards of Directors of both banks approved the exchange ratio of 0.6845 new ordinary CaixaBank shares for each Bankia share. The agreed price includes a 20% premium on the exchange ratio at the close of trading on 3 September, before the market was informed of the negotiations around the proposed transaction. In addition, it represents a 28% premium over the average exchange ratio in the three months prior to the announcement.

Considering the total number of outstanding Bankia shares that could participate in the exchange, the maximum number of CaixaBank shares to be issued to meet the merger exchange amounts to 2,079,209,002 ordinary CaixaBank shares with a nominal value of one euro each.

Bankia shares will cease trading on 26 March at market closing time and the new CaixaBank shares issued as a result of the merger will begin to trade on 29 March. The new shares will give their holders the same rights as the rest of CaixaBank's shareholders.

Customers will not be required to make any arrangements

Despite the legal closing, which was completed today, customer operations will remain virtually unchanged until the migration of each institution's operating platform, a process which is expected to be completed before the end of the year.

Current accounts and savings account documents will be renumbered. This change, however, will not affect direct debits, transfers or payments received. Therefore, it will not be necessary for customers to make any arrangements. Existing contracts for loans and mortgages will also maintain the agreed terms and conditions.

Bankia cards can be used until the user activates the CaixaBank card they will receive at home, following the integration of IT systems.

In addition, as of today, all CaixaBank and Bankia customers will be able to make debit withdrawals with their cards, free of charge, at the more than 14,000 ATMs across the joint network in Spain that both banks will offer after the merger.

Gradual replacement of the Bankia brand

The merged entity will maintain the CaixaBank brand and, having completed the legal merger, the Bankia brand will be replaced at branches and other landmark buildings.

The brand transition process will be gradual, but will begin during the first days of integration, with the process of replacing signage on landmark buildings expected to be completed within the next week. The replacement of signage in branches will also begin at the same time and will continue for several weeks.

Digital channels (web, mobile and ATMs) will be customised to incorporate CaixaBank's image with Bankia's until full technological integration has been completed.

New Board of Directors and new Management Committee

The Board of Directors will consist of 15 members, 60% of whom will be independent. Women make up 40%.

On 3 December 2020, at CaixaBank's Extraordinary General Shareholders' Meeting the appointment of new directors conditional to the merger was approved: José Ignacio Goirigolzarri Tellaeche, Joaquín Ayuso García, Francisco Javier Campo García, Eva Castillo Sanz, Teresa Santero Quintillá and Fernando Ulrich. All of the new directors will join the current CaixaBank directors: Gonzalo Gortázar Rotaeche (CEO), Tomás Muniesa Arantegui (Vice-Chairman), José Serna Masiá, María Verónica Fisas Vergés, Cristina Garmendia Mendizábal, María Amparo Moraleda Martínez, Eduardo Javier Sanchiz Irazu, John Shepard Reed and Koro Usarraga Unsain.

As indicated in the merger plan, the combined entity resulting from the merger will be chaired by José Ignacio Goirigolzarri, current chairman of Bankia, once he is appointed by CaixaBank's new Board of Directors, which is scheduled to meet in the coming days.

The current CEO, Gonzalo Gortázar, will continue as CaixaBank's chief executive, reporting directly to the Board of Directors and overseeing the Management Committee.

In addition, at its meeting on 18 February, the CaixaBank Board of Directors proposed a new composition of the Management Committee. This proposal will have to be approved by the Board of Directors at its first post-merger meeting.

The new CaixaBank Management Committee will be overseen by Gonzalo Gortázar, as CEO of CaixaBank, and will include Juan Alcaraz (head of retail, business and private banking); Xavier Coll (chief human resources officer), who will leave his position on 1 January 2022, when David López will succeed him; Jordi Mondéjar (chief risk officer); Iñaki Badiola (director of CIB and international banking); Luis Javier Blas (chief operating officer); Matthias Bulach (head of financial accounting, control and capital); Manuel Galarza (head of control and compliance); María Luisa Martínez (head of communications and institutional relations); Javier Pano (chief financial officer); Marisa Retamosa (head of internal audit); Eugenio Solla (chief sustainability officer); Javier Valle (head of insurance); and Óscar Calderón (board secretary and general counsel).

The Management Committee also proposed a new Regional Divisions structure which, in turn, will also be submitted for approval to the new Management Committee formed following the merger with Bankia. Under this new regional reorganisation, CaixaBank will be geographically divided into 14 regional divisions.   

 

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<![CDATA[Innovation to fuel recovery: Disruptive models, with Benjamí Puigdevall]]> https://blog.caixabank.es/?p=23645 2021-03-24T00:00:00.0Z 2021-03-24T00:00:00.0Z <![CDATA[Innovation to fuel recovery: Disruptive models, with Benjamí Puigdevall]]> In the third Chapter of CaixaBank’s Masterclass series in collaboration with The Banker magazine, Benjamí Puigdevall, CEO of imagin, CaixaBank’s lifestyle platform for young people, discusses how the banking behavior of younger generations has changed during the pandemic.

When imagin was launched as Spain’s first mobile-only bank in 2016, it was specifically designed for the millennial generation as a genuine digital financial experience. Today, the new imagin lifestyle platform launched in 2020 offers primarily an open community with digital content and experiences that provides a disruptive value proposition.

Thanks to its innovative content strategy combined with a wider trend of customers seeking digital services following the outbreak of the Covid-19 pandemic, imagin’s customer base grew by over 500,000 since March to over 3 million users by the end of the year, with over 50% of users connecting with the app over five times per week.

To view the other videos in The Banker Masterclass series “Innovation to fuel recovery”, please visit the links below.

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In the third Chapter of CaixaBank’s Masterclass series in collaboration with The Banker magazine, Benjamí Puigdevall, CEO of imagin, CaixaBank’s lifestyle platform for young people, discusses how the banking behavior of younger generations has changed during the pandemic.

When imagin was launched as Spain’s first mobile-only bank in 2016, it was specifically designed for the millennial generation as a genuine digital financial experience. Today, the new imagin lifestyle platform launched in 2020 offers primarily an open community with digital content and experiences that provides a disruptive value proposition.

Thanks to its innovative content strategy combined with a wider trend of customers seeking digital services following the outbreak of the Covid-19 pandemic, imagin’s customer base grew by over 500,000 since March to over 3 million users by the end of the year, with over 50% of users connecting with the app over five times per week.

To view the other videos in The Banker Masterclass series “Innovation to fuel recovery”, please visit the links below.

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<![CDATA[CaixaBank, recognised by Global Finance for its leadership in supporting businesses during the COVID-19 crisis]]> https://blog.caixabank.es/?p=23645 2021-03-22T00:00:00.0Z 2021-03-22T00:00:00.0Z <![CDATA[CaixaBank, recognised by Global Finance for its leadership in supporting businesses during the COVID-19 crisis]]>
CaixaBank, Spain’s leading retail bank, has received the award " Outstanding Achievement in Treasury Operations during the Covid pandemic in Western Europe 2021" from the US magazine Global Finance. The newly created award is part of the "Best Treasury & Cash Management Banks and Providers Awards", which each year recognise institutions that excel in treasury and cash management. This year, the Jury also wanted to give special recognition to those institutions that have played a crucial role in the economic recovery effort with financing and treasury solutions adapted to the context of the COVID-19 pandemic.

CaixaBank stood out among European institutions for its promotion of financing for businesses and individuals, and its support for the sectors most affected by the pandemic.

From March 2020, when the state of emergency was declared in Spain, until the end of the financial year, CaixaBank approved €83.7 billion in financing for the business sector, in addition to the credit facilities through the Official Credit Institute (ICO), to alleviate the economic effects of the pandemic on the country’s productive fabric.

In addition, since the launch the COVID-19 ICO credit facilities until 31 December 2020, the entity granted 184,814 loans for €12.64 billion. Of the total amount disbursed, 76% was granted to self-employed workers and SMEs.

For its part, CaixaBank's social bank, MicroBank, financed projects with a social impact to the value of €900 million in 2020, representing an increase of 24% over the previous year. It is also the highest figure since the bank was founded in 2007 and coincides with MicroBank's commitment to become a leading social bank and with the initiative undertaken by the bank in a year marked by the COVID-19 pandemic.

The institution also offered discounts on equipment leasing and vehicle leasing quotas to small and medium-sized enterprises (SMEs), and as part of the measures to support small businesses, it approved the rebate on point-of-sale commissions and the launch of a new e-commerce technology solution to help small business owners boost online sales.

In July, CaixaBank also issued a €1 billion COVID-19 social bond in the form of senior preferred debt to mitigate the effects of the pandemic by financing SMEs and micro-enterprises located in the most disadvantaged regions of Spain.19. These regions are in the 30th percentile in terms of GDP per capita, i.e. with less than €19,665, and unemployment rates above 16.69%.

Meanwhile, through appropriate risk management, CaixaBank's NPL ratio fell to 3.3% in 2020 (-30 basis points compared to 2019) and the coverage ratio increased to 67% (+12 percentage points in the year after increasing the provisions). The cost of 12-month risk was placed at 0.75%.

As a result of these efforts, the company has received numerous awards for its social commitment when dealing with the crisis of the pandemic, including “Excellence in Leadership in Western Europe 2020” from the magazine Euromoney, and “Outstanding Crisis Leadership 2020 (Overall category)” from Global Finance.

CaixaBank's support measures when dealing with the Covid-19

Since the COVID-19 crisis began, under the slogan #WithYouMoreThanEver, CaixaBank enabled a broad package of measures with the aim of lessening the economic and social effects and, in this way, respond to the needs of the most affected groups, such as the advance payment of unemployment benefits and furlough benefits to 3.6 million people. These also include rent waivers on homes it owns to 4,800 families and its collaboration with the "la Caixa" Foundation through, among other initiatives, CaixaBank’s volunteer programme and the activity of CaixaBank's Social Action department, developed with a budget provided by the “la Caixa” Foundation.

All of this has been possible thanks to CaixaBank’s leadership in retail banking in Spain, where it is the only bank for nearly one of each four clients. Similarly, the company is leader in digital banking with 7 digital million clients, 67.6% of the total of CaixaBank, thanks to its steady commitment to digital transformation and to the use of new technologies to offer the best customer service anywhere through any channel.

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CaixaBank, Spain’s leading retail bank, has received the award " Outstanding Achievement in Treasury Operations during the Covid pandemic in Western Europe 2021" from the US magazine Global Finance. The newly created award is part of the "Best Treasury & Cash Management Banks and Providers Awards", which each year recognise institutions that excel in treasury and cash management. This year, the Jury also wanted to give special recognition to those institutions that have played a crucial role in the economic recovery effort with financing and treasury solutions adapted to the context of the COVID-19 pandemic.

CaixaBank stood out among European institutions for its promotion of financing for businesses and individuals, and its support for the sectors most affected by the pandemic.

From March 2020, when the state of emergency was declared in Spain, until the end of the financial year, CaixaBank approved €83.7 billion in financing for the business sector, in addition to the credit facilities through the Official Credit Institute (ICO), to alleviate the economic effects of the pandemic on the country’s productive fabric.

In addition, since the launch the COVID-19 ICO credit facilities until 31 December 2020, the entity granted 184,814 loans for €12.64 billion. Of the total amount disbursed, 76% was granted to self-employed workers and SMEs.

For its part, CaixaBank's social bank, MicroBank, financed projects with a social impact to the value of €900 million in 2020, representing an increase of 24% over the previous year. It is also the highest figure since the bank was founded in 2007 and coincides with MicroBank's commitment to become a leading social bank and with the initiative undertaken by the bank in a year marked by the COVID-19 pandemic.

The institution also offered discounts on equipment leasing and vehicle leasing quotas to small and medium-sized enterprises (SMEs), and as part of the measures to support small businesses, it approved the rebate on point-of-sale commissions and the launch of a new e-commerce technology solution to help small business owners boost online sales.

In July, CaixaBank also issued a €1 billion COVID-19 social bond in the form of senior preferred debt to mitigate the effects of the pandemic by financing SMEs and micro-enterprises located in the most disadvantaged regions of Spain.19. These regions are in the 30th percentile in terms of GDP per capita, i.e. with less than €19,665, and unemployment rates above 16.69%.

Meanwhile, through appropriate risk management, CaixaBank's NPL ratio fell to 3.3% in 2020 (-30 basis points compared to 2019) and the coverage ratio increased to 67% (+12 percentage points in the year after increasing the provisions). The cost of 12-month risk was placed at 0.75%.

As a result of these efforts, the company has received numerous awards for its social commitment when dealing with the crisis of the pandemic, including “Excellence in Leadership in Western Europe 2020” from the magazine Euromoney, and “Outstanding Crisis Leadership 2020 (Overall category)” from Global Finance.

CaixaBank's support measures when dealing with the Covid-19

Since the COVID-19 crisis began, under the slogan #WithYouMoreThanEver, CaixaBank enabled a broad package of measures with the aim of lessening the economic and social effects and, in this way, respond to the needs of the most affected groups, such as the advance payment of unemployment benefits and furlough benefits to 3.6 million people. These also include rent waivers on homes it owns to 4,800 families and its collaboration with the "la Caixa" Foundation through, among other initiatives, CaixaBank’s volunteer programme and the activity of CaixaBank's Social Action department, developed with a budget provided by the “la Caixa” Foundation.

All of this has been possible thanks to CaixaBank’s leadership in retail banking in Spain, where it is the only bank for nearly one of each four clients. Similarly, the company is leader in digital banking with 7 digital million clients, 67.6% of the total of CaixaBank, thanks to its steady commitment to digital transformation and to the use of new technologies to offer the best customer service anywhere through any channel.

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