<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[Ciberataques: una amenaza constante. ¿Cómo protegernos?]]> https://blog.caixabank.es/?p=23645 2017-05-25T07:01:29.0Z 2017-05-25T07:01:29.0Z <![CDATA[Ciberataques: una amenaza constante. ¿Cómo protegernos?]]> 0 <![CDATA[CaixaBank launches a money transfer service for iPhones using Siri voice commands]]> https://blog.caixabank.es/?p=23645 2017-05-23T11:00:00.0Z 2017-05-23T11:00:00.0Z <![CDATA[CaixaBank launches a money transfer service for iPhones using Siri voice commands]]> CaixaBank has created a new service that supports money transfers between individuals by issuing a voice command to Siri. The service is only available for iPhones. The feature is now available to all CaixaBank clients via the latest versions of the CaixaBank Pay and imaginBank applications.

CaixaBank customers can now send money to family or friends by simply talking to Siri. The iPhone voice-controlled assistant follows the user’s instructions to fill out the recipient’s information, amount and payment reference, ready for the payment to be confirmed.

This represents one of the first applications of biometrics for electronic payments anywhere in European banking. CaixaBank thus becomes the first Spanish bank to offer voice-activated payment services.

A simple process with full security guarantees

Users start the payment process by issuing the “Send money” command to the iPhone voice-activated assistant. The system will automatically open the CaixaBank application. The user then simply has to state how much money they want to send and to whom, and Siri will prepare the transaction, ready for confirmation.

Next the user needs only to touch the telephone to complete the process, and will have to enter the usual security codes required for electronic transactions. The process thus combines the usability and convenience of voice commands with all the security guarantees provided by CaixaBank systems.

CaixaBank: the latest in payment methods

This new CaixaBank service for iPhone devices, which is available now, extends the innovative peer-to-peer payment services already available via the app. It also drives the integration of payment methods suitable for new environments such as vehicles.

CaixaBank recently became the first financial operator to launch a mobile virtual keyboard, allowing money transfers to be made via messaging applications such as WhatsApp, Facebook Messenger and Telegram. This service is exclusively available to customers of imaginBank, the CaixaBank mobile-only bank.

Leadership in innovation

CaixaBank is considered a major driver of innovation in financial services worldwide, serving 5.4 million online customers and 3.7 million active mobile banking customers.

The bank leads the electronic banking market, with more than 15.6 million cards in circulation and a market share in terms of turnover of 23.3%. It was one of the first banks anywhere in the world to commercially launch contactless payment systems and mobile payment platforms, winning it numerous international accolades.

In 2017 the bank won the Celent Model Bank of the Year award, which seeks to honour the world’s most innovative bank each year. Other recent international accolades won by CaixaBank for its digital banking strategy include the Efma and Accenture awards, as well as the award for World’s Best Technology Project from The Banker for the launch of the mobile-only bank, which sees customers run all operations exclusively via mobile and social network apps.

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CaixaBank has created a new service that supports money transfers between individuals by issuing a voice command to Siri. The service is only available for iPhones. The feature is now available to all CaixaBank clients via the latest versions of the CaixaBank Pay and imaginBank applications.

CaixaBank customers can now send money to family or friends by simply talking to Siri. The iPhone voice-controlled assistant follows the user’s instructions to fill out the recipient’s information, amount and payment reference, ready for the payment to be confirmed.

This represents one of the first applications of biometrics for electronic payments anywhere in European banking. CaixaBank thus becomes the first Spanish bank to offer voice-activated payment services.

A simple process with full security guarantees

Users start the payment process by issuing the “Send money” command to the iPhone voice-activated assistant. The system will automatically open the CaixaBank application. The user then simply has to state how much money they want to send and to whom, and Siri will prepare the transaction, ready for confirmation.

Next the user needs only to touch the telephone to complete the process, and will have to enter the usual security codes required for electronic transactions. The process thus combines the usability and convenience of voice commands with all the security guarantees provided by CaixaBank systems.

CaixaBank: the latest in payment methods

This new CaixaBank service for iPhone devices, which is available now, extends the innovative peer-to-peer payment services already available via the app. It also drives the integration of payment methods suitable for new environments such as vehicles.

CaixaBank recently became the first financial operator to launch a mobile virtual keyboard, allowing money transfers to be made via messaging applications such as WhatsApp, Facebook Messenger and Telegram. This service is exclusively available to customers of imaginBank, the CaixaBank mobile-only bank.

Leadership in innovation

CaixaBank is considered a major driver of innovation in financial services worldwide, serving 5.4 million online customers and 3.7 million active mobile banking customers.

The bank leads the electronic banking market, with more than 15.6 million cards in circulation and a market share in terms of turnover of 23.3%. It was one of the first banks anywhere in the world to commercially launch contactless payment systems and mobile payment platforms, winning it numerous international accolades.

In 2017 the bank won the Celent Model Bank of the Year award, which seeks to honour the world’s most innovative bank each year. Other recent international accolades won by CaixaBank for its digital banking strategy include the Efma and Accenture awards, as well as the award for World’s Best Technology Project from The Banker for the launch of the mobile-only bank, which sees customers run all operations exclusively via mobile and social network apps.

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<![CDATA[Global Finance picks CaixaBank as the Best Bank in Spain for the third consecutive year]]> https://blog.caixabank.es/?p=23645 2017-05-22T12:00:00.0Z 2017-05-22T12:00:00.0Z <![CDATA[Global Finance picks CaixaBank as the Best Bank in Spain for the third consecutive year]]> CaixaBank, the leading financial group in the Spanish market, has been picked as the Best Bank in Spain 2017 by Global Finance, taking the crown for the third consecutive year. The accolade was based on CaixaBank’s achievements in delivering on customer demands amid a challenging market and climate, while outperforming competitors and “laying the foundations for further success”.

The bank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, outclassed competitors in terms of assets growth (total customer funds in the first quarter 2017 stood at 338,053 million, up 11.2%), profitability (with ROTE in the banking and insurance business of 9% at the end of the first quarter 2017), its nationwide footprint, strategic relations, new business development and product innovation.

“This award represents further recognition of our fresh approach to banking, as well as the bank’s leadership. It has deftly navigated the challenges and opportunities that have presented themselves, again demonstrating robust solvency levels, and completing the BPI acquisition to extend its leadership to the entirety of the Iberian market”, said CaixaBank Chairman Jordi Gual.

Meanwhile CaixaBank’s CEO, Gonzalo Gortázar, pointed out that “despite fierce competition in the industry, CaixaBank continues to growth at a considerably faster pace than the market, thanks to its unique commercial capabilities, the finest consultancy provided by a highly capable team, and an extensive service offering tailored to each segment”. 

The choice of CaixaBank as the Best Bank in Spain was based on a survey conducted by Global Finance among financial and banking executives, global analysts and credit rating analysts. A further a survey was also run among Global Finance readers.

Joseph Giarraputo, Editor and Editorial Director of Global Finance, said “the winning banks may not be the biggest or the most veteran, but their energy and adaptability ensures that they stand out on the playing field”.

Global Finance is a New York-based monthly magazine that was founded in 1987. It has a circulation of 50,050 copies (according to BPA) across 180 countries, and a readership of more than 200,000.

The New York magazine will host an awards ceremony as part of the annual meetings of the International Monetary Fund and World Bank in Washington on October 14.

International accolades for CaixaBank

CaixaBank also won the Bank of the Year 2016 title from The Banker, as well as the award for Best Private Banking Provider 2017 from Euromoney.

The bank has likewise attracted awards for innovation, such as the EFMA and Accenture prize for the world’s most innovative bank, and the BAI awards for Innovation in Payment Services and Most Disruptive Innovation in Banking. Global Finance also honoured CaixaBank’s innovation strategy with the Global Finance award for the Best Retail Digital Bank in Western Europe.

The bank also recently won the European Retail Bank of the Year award, for its leadership of innovation in the European sector over the last year.

 

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CaixaBank, the leading financial group in the Spanish market, has been picked as the Best Bank in Spain 2017 by Global Finance, taking the crown for the third consecutive year. The accolade was based on CaixaBank’s achievements in delivering on customer demands amid a challenging market and climate, while outperforming competitors and “laying the foundations for further success”.

The bank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, outclassed competitors in terms of assets growth (total customer funds in the first quarter 2017 stood at 338,053 million, up 11.2%), profitability (with ROTE in the banking and insurance business of 9% at the end of the first quarter 2017), its nationwide footprint, strategic relations, new business development and product innovation.

“This award represents further recognition of our fresh approach to banking, as well as the bank’s leadership. It has deftly navigated the challenges and opportunities that have presented themselves, again demonstrating robust solvency levels, and completing the BPI acquisition to extend its leadership to the entirety of the Iberian market”, said CaixaBank Chairman Jordi Gual.

Meanwhile CaixaBank’s CEO, Gonzalo Gortázar, pointed out that “despite fierce competition in the industry, CaixaBank continues to growth at a considerably faster pace than the market, thanks to its unique commercial capabilities, the finest consultancy provided by a highly capable team, and an extensive service offering tailored to each segment”. 

The choice of CaixaBank as the Best Bank in Spain was based on a survey conducted by Global Finance among financial and banking executives, global analysts and credit rating analysts. A further a survey was also run among Global Finance readers.

Joseph Giarraputo, Editor and Editorial Director of Global Finance, said “the winning banks may not be the biggest or the most veteran, but their energy and adaptability ensures that they stand out on the playing field”.

Global Finance is a New York-based monthly magazine that was founded in 1987. It has a circulation of 50,050 copies (according to BPA) across 180 countries, and a readership of more than 200,000.

The New York magazine will host an awards ceremony as part of the annual meetings of the International Monetary Fund and World Bank in Washington on October 14.

International accolades for CaixaBank

CaixaBank also won the Bank of the Year 2016 title from The Banker, as well as the award for Best Private Banking Provider 2017 from Euromoney.

The bank has likewise attracted awards for innovation, such as the EFMA and Accenture prize for the world’s most innovative bank, and the BAI awards for Innovation in Payment Services and Most Disruptive Innovation in Banking. Global Finance also honoured CaixaBank’s innovation strategy with the Global Finance award for the Best Retail Digital Bank in Western Europe.

The bank also recently won the European Retail Bank of the Year award, for its leadership of innovation in the European sector over the last year.

 

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<![CDATA[CaixaBank sets up an index to support the internationalization of Spanish companies]]> https://blog.caixabank.es/?p=23645 2017-05-08T00:00:00.0Z 2017-05-08T00:00:00.0Z <![CDATA[CaixaBank sets up an index to support the internationalization of Spanish companies]]> CaixaBank has set up the CaixaBank Index for Business Internationalization (ICIE in its Spanish acronym), which evaluates all key decision making factors for Spanish businesses when establishing trade relations or investing in specific countries. The aim is to support companies that plan to drive internationalization, whether via product sales, working with international providers or investments of any kind.

Specifically, the ICIE covers a total of 67 countries, including both advanced and emerging economies, to create a ranking based on how appealing said countries are for Spanish businesses over time.

The ICIE is comprised of five key pillars that represent fundamental issues for internationalization decisions, such as a country’s accessibility, ease of operating in the same, commercial appeal, financial climate and stability.

The result is an index of countries that offer the best conditions for the internationalization of Spanish companies. The ICIE includes a datasheet for each country with a detailed breakdown of each indicator. All of this information is available to CaixaBank clients upon request and free of charge.

Results of the first ICIE

According to the 2016 ICIE, Western European countries offer the best conditions for the internationalization of Spanish companies. As well as being particularly accessible (the countries are nearby and many are EU members), they also perform very well in the other evaluation pillars.

America as a whole is the second easiest region for Spanish companies to drive internationalization, albeit someway behind Western Europe. Topping the American ranking is the USA, which stands in sixth position in the global ranking. Mexico and Brazil, the two largest economies in Latin America, are also high on the index (14th and 16th respectively). In Brazil’s case, despite the current challenges facing the economy, the fact that numerous Spanish companies already operate in the country means it remains relatively attractive.

Pillars of the index

The ICIE is comprised of five major pillars, which in turn are made up of several sub-pillars. Thus, the pillar that represents each country’s market accessibility is itself comprised of aspects such as the connections between the country and Spain, and infrastructure quality.

Meanwhile, the pillar that measures the ease of operating in each country covers the administrative and legal framework that is in place, and the functioning of the labour market. It also factors in existing Spanish investment in the country, as the presence of other Spanish investors is usually conducive to smooth operations with incoming firms.

Another pillar is commercial appeal, which covers any element that may determine how successful Spanish products might be in the country, such as the size of the target market and household purchasing power.

Meanwhile, the financial climate pillar evaluates credit availability and how developed the financial sector is in each country. This helps to determine the capacity of clients and providers to make payments. Likewise, for any business intending to open a production plant or establish a point of sale in the country, said data is indicative of what financial instruments will be available to support treasury management, for example.

Finally, the fifth pillar considers both the institutional and macroeconomic stability of each country. This illustrates any uncertainty surrounding the assessments of the above indicators, and is thus key to ensuring that all business internationalization decisions are coherent with target risk profiles.

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CaixaBank has set up the CaixaBank Index for Business Internationalization (ICIE in its Spanish acronym), which evaluates all key decision making factors for Spanish businesses when establishing trade relations or investing in specific countries. The aim is to support companies that plan to drive internationalization, whether via product sales, working with international providers or investments of any kind.

Specifically, the ICIE covers a total of 67 countries, including both advanced and emerging economies, to create a ranking based on how appealing said countries are for Spanish businesses over time.

The ICIE is comprised of five key pillars that represent fundamental issues for internationalization decisions, such as a country’s accessibility, ease of operating in the same, commercial appeal, financial climate and stability.

The result is an index of countries that offer the best conditions for the internationalization of Spanish companies. The ICIE includes a datasheet for each country with a detailed breakdown of each indicator. All of this information is available to CaixaBank clients upon request and free of charge.

Results of the first ICIE

According to the 2016 ICIE, Western European countries offer the best conditions for the internationalization of Spanish companies. As well as being particularly accessible (the countries are nearby and many are EU members), they also perform very well in the other evaluation pillars.

America as a whole is the second easiest region for Spanish companies to drive internationalization, albeit someway behind Western Europe. Topping the American ranking is the USA, which stands in sixth position in the global ranking. Mexico and Brazil, the two largest economies in Latin America, are also high on the index (14th and 16th respectively). In Brazil’s case, despite the current challenges facing the economy, the fact that numerous Spanish companies already operate in the country means it remains relatively attractive.

Pillars of the index

The ICIE is comprised of five major pillars, which in turn are made up of several sub-pillars. Thus, the pillar that represents each country’s market accessibility is itself comprised of aspects such as the connections between the country and Spain, and infrastructure quality.

Meanwhile, the pillar that measures the ease of operating in each country covers the administrative and legal framework that is in place, and the functioning of the labour market. It also factors in existing Spanish investment in the country, as the presence of other Spanish investors is usually conducive to smooth operations with incoming firms.

Another pillar is commercial appeal, which covers any element that may determine how successful Spanish products might be in the country, such as the size of the target market and household purchasing power.

Meanwhile, the financial climate pillar evaluates credit availability and how developed the financial sector is in each country. This helps to determine the capacity of clients and providers to make payments. Likewise, for any business intending to open a production plant or establish a point of sale in the country, said data is indicative of what financial instruments will be available to support treasury management, for example.

Finally, the fifth pillar considers both the institutional and macroeconomic stability of each country. This illustrates any uncertainty surrounding the assessments of the above indicators, and is thus key to ensuring that all business internationalization decisions are coherent with target risk profiles.

]]>
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<![CDATA[MicroBank microcredits, driving employment]]> https://blog.caixabank.es/?p=23645 2017-05-03T00:00:00.0Z 2017-05-03T00:00:00.0Z <![CDATA[MicroBank microcredits, driving employment]]> Financing granted by MicroBank, the social bank owned in full by CaixaBank, has decisively helped to create 21,321 jobs in 2015, according to a report carried out by the ESADE Business School Social Innovation Institute on the bank's initiative. "Since it was founded in 2007, MicroBank's support by means of small loans has played an important role in generating 155,000 jobs, with significant repercussions on family well-being and economic growth." highlighted Antonio Vila, President of MicroBank.

One of the main conclusions from the Report on the Impact of Microcredits, based on a survey among MicroBank loan beneficiaries for the sixth year running, reveals that this type of financing has made it possible to create jobs, either in processes to set up new businesses or expanding existing firms. In fact, 93% of entrepreneurs being financed continue working in their own company and 29% have taken on another worker since the microcreadit was granted.

Microcredits, boosting economic activity

Microcredits are one of the main instruments for facilitating access to credit, as reflected in the fact that 50% of those surveyed state that they could not have opened or expanded their business without a microcredit. Another 27% believe that they could have done it but with great difficulty.

In addition, the revenue generated by a microbusiness is the main source of income for one person in 30% of cases, whilst it pays two people in 27% of business initiatives. These figures demonstrate the crucial importance of business success not only for the entrepreneur but also for the people immediately around them.

In 30% of cases, the contribution of the entrepreneur's revenue to the family budget is over 75% whilst in another 29% it represents between 50% and 75%. Only in 14% of initiatives does this contribution represent less than 25% of the family budget.

Reasons for opening the business are worth a separate chapter. Entrepreneurship through need (in other words, people who wish to open their own business because they do not have a better option on the job market) represents 20% of MicroBank loan beneficiaries intending to set up a microbusiness in 2015. This refers to entrepreneurs that either did not have a job or feared they might lose it. Entrepreneurs who stated that they went down this road because they had seen a clear business opportunity represent 24% whilst there is also a significant percentage of businessmen who become entrepreneurs to maintain their family business or through vocation.

I always wanted to be my own boss

Optimism for the future

The people who asked for a credit are optimistic about their future. 70% believe that their business will grow quite a lot or moderately in the next few months, whilst 26% state that it will remain stable. Only 1% forecast that sales would drop and they would have to close. Based on their company's current development, 57% state that it is running well and 12% consider it to be running very well.

In addition, a majority of those who expanded an existing business say that their business is doing better than the previous year and only 6% mention that business is not as good.

As a company, we would like to employ more people

Beneficiary profile

The analysis of the entrepreneur profile helps to complete the vision of the type of customer who signs up for a microcredit for financing. Men represent 50% of the total, compared to 31% women. The other 19% corresponds to loans granted to legal persons.

The majority group is made up of entrepreneurs between 36 and 49 years old, making up 42% of the sample, followed by the 26 to 35-year-old age range, representing 20% of the total. The beneficiary of a MicroBank loan has an average age of 40 years old.

The majority of people receiving a microcredit have secondary studies (42%), followed by further education (32%) that has increased compared to data from previous reports. The proportion of entrepreneurs with no qualifications remains very low and does not exceed 1%.

Regarding geographic origin, as in previous reports, 75% of the total are Spanish. Far behind them, 17% are from South and Central America and 6% from other European countries. Asians and Africans barely make up 1%.

65% of the total were already self-employed before the microcredit was granted and 19% were on a salary. The proportion of entrepreneurs who were previously unemployed stands at 15%, a lower percentage than recorded in previous reports, possibly related to economic recovery.

Granting microcredits, as well as the network of over 5,000 CaixaBank branches, involves entities that provide knowledge for the people receiving the loans, as well as advice and monitoring on the projects. To date, MicroBank has signed agreements with 566 social entities all over Spain that keep an eye on feasibility for the financed projects. Collaborating social entities might be any type of organisation with experience in economic or social assistance actions intended to strengthen setting up microbusinesses, promote self-employment and provide incentives for entrepreneurial business.

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Financing granted by MicroBank, the social bank owned in full by CaixaBank, has decisively helped to create 21,321 jobs in 2015, according to a report carried out by the ESADE Business School Social Innovation Institute on the bank's initiative. "Since it was founded in 2007, MicroBank's support by means of small loans has played an important role in generating 155,000 jobs, with significant repercussions on family well-being and economic growth." highlighted Antonio Vila, President of MicroBank.

One of the main conclusions from the Report on the Impact of Microcredits, based on a survey among MicroBank loan beneficiaries for the sixth year running, reveals that this type of financing has made it possible to create jobs, either in processes to set up new businesses or expanding existing firms. In fact, 93% of entrepreneurs being financed continue working in their own company and 29% have taken on another worker since the microcreadit was granted.

Microcredits, boosting economic activity

Microcredits are one of the main instruments for facilitating access to credit, as reflected in the fact that 50% of those surveyed state that they could not have opened or expanded their business without a microcredit. Another 27% believe that they could have done it but with great difficulty.

In addition, the revenue generated by a microbusiness is the main source of income for one person in 30% of cases, whilst it pays two people in 27% of business initiatives. These figures demonstrate the crucial importance of business success not only for the entrepreneur but also for the people immediately around them.

In 30% of cases, the contribution of the entrepreneur's revenue to the family budget is over 75% whilst in another 29% it represents between 50% and 75%. Only in 14% of initiatives does this contribution represent less than 25% of the family budget.

Reasons for opening the business are worth a separate chapter. Entrepreneurship through need (in other words, people who wish to open their own business because they do not have a better option on the job market) represents 20% of MicroBank loan beneficiaries intending to set up a microbusiness in 2015. This refers to entrepreneurs that either did not have a job or feared they might lose it. Entrepreneurs who stated that they went down this road because they had seen a clear business opportunity represent 24% whilst there is also a significant percentage of businessmen who become entrepreneurs to maintain their family business or through vocation.

I always wanted to be my own boss

Optimism for the future

The people who asked for a credit are optimistic about their future. 70% believe that their business will grow quite a lot or moderately in the next few months, whilst 26% state that it will remain stable. Only 1% forecast that sales would drop and they would have to close. Based on their company's current development, 57% state that it is running well and 12% consider it to be running very well.

In addition, a majority of those who expanded an existing business say that their business is doing better than the previous year and only 6% mention that business is not as good.

As a company, we would like to employ more people

Beneficiary profile

The analysis of the entrepreneur profile helps to complete the vision of the type of customer who signs up for a microcredit for financing. Men represent 50% of the total, compared to 31% women. The other 19% corresponds to loans granted to legal persons.

The majority group is made up of entrepreneurs between 36 and 49 years old, making up 42% of the sample, followed by the 26 to 35-year-old age range, representing 20% of the total. The beneficiary of a MicroBank loan has an average age of 40 years old.

The majority of people receiving a microcredit have secondary studies (42%), followed by further education (32%) that has increased compared to data from previous reports. The proportion of entrepreneurs with no qualifications remains very low and does not exceed 1%.

Regarding geographic origin, as in previous reports, 75% of the total are Spanish. Far behind them, 17% are from South and Central America and 6% from other European countries. Asians and Africans barely make up 1%.

65% of the total were already self-employed before the microcredit was granted and 19% were on a salary. The proportion of entrepreneurs who were previously unemployed stands at 15%, a lower percentage than recorded in previous reports, possibly related to economic recovery.

Granting microcredits, as well as the network of over 5,000 CaixaBank branches, involves entities that provide knowledge for the people receiving the loans, as well as advice and monitoring on the projects. To date, MicroBank has signed agreements with 566 social entities all over Spain that keep an eye on feasibility for the financed projects. Collaborating social entities might be any type of organisation with experience in economic or social assistance actions intended to strengthen setting up microbusinesses, promote self-employment and provide incentives for entrepreneurial business.

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<![CDATA[CaixaBank posts profit of €403 million (+47.9%) while growing lending and customer funds by 11% following the integration of BPI]]> https://blog.caixabank.es/?p=23645 2017-04-28T07:00:00.0Z 2017-04-28T07:00:00.0Z <![CDATA[CaixaBank posts profit of €403 million (+47.9%) while growing lending and customer funds by 11% following the integration of BPI]]>
  • The CaixaBank Group now leads the Iberian financial market after incorporating a further 2 million customers, €23,328 million, gross, in loans and advances to customers and €34,037 million in customer funds.
  • Net interest income up 13.1% to reach €1,153 million. Meanwhile, fee and commission income totals €588 million (+20.3%) and recurring expenses on a like-for-like basis remain stable (+1%) thanks to the ongoing efforts to pare back costs.
  • Commercial activity at CaixaBank remains extremely healthy, with sharp growth in the insurance and asset management business. CaixaBank is the market leader when it comes to all the main retail products and services, as well as in payroll deposits (share of 25.9%).
  • CaixaBank’s business model relies heavily on technology and digitalisation: 90% of processes now digitalised, 97% of signatures now digital and 26,511 smart PC’s up and running.
  • The NPL ratio is now 6.7% following the incorporation of BPI, while the coverage ratio improves to 49% (47% at year-end 2016).
  • Impairment losses on financial assets and other charges to provisions stand at €619 million (+51.1%), following the recognition in the quarter of €152 million associated with early retirements, among other non-recurring impacts and €154 million in write-downs on exposure to the SAREB.
  • The CaixaBank Group has a fully-loaded Common Equity Tier 1 (CET1) of 11.5%, comfortably within the target band of 11-12% envisaged in the Strategic Plan. The impact on capital of the acquisition of BPI had already been covered in 2016 through the sale of treasury shares.
  • Profitability up 65 basis points quarter on quarter to 6.2% (3.7% in the first quarter of 2016), with 0% ROTE from the banking and insurance business and earnings of €557 million, excluding the non-core real estate, equity investments and BPI businesses.
  • Since the 1 February 2017, CaixaBank has been reporting its 84.5% stake in BPI under the full consolidation method. The Portuguese bank contributed €50 million to CaixaBank’s earnings in the last two months. The income statement also includes a positive net impact of €159 million. Considering that the future restructuring costs are estimated at approximately €155 million attributable to the Group, it is therefore estimated that the transaction will have a neutral overall impact.
  • CaixaBank, a leading financial institution headed and run by Jordi Gual (chairman) and Gonzalo Gortázar (CEO), reported net attributable profit of €403 million in the first quarter of 2017, up 47.9% year on year.

    During the quarter, the CaixaBank Group effectively has become the leading bank in the Iberian financial sector, with a business volume of €565,987 million and 15.8 million customers. Following the integration of BPI, the Bank has gained a further 2 million customers, €34,037 million in customer funds and €23,328 million in loans and advances to customers, gross.

    The change in the first quarter was largely due to the full consolidation of the results of BPI from February 2017 onwards, which naturally impacted the main headings of CaixaBank’s income statement.

    The Bank reported strong commercial activity in the quarter, enabling it to boost its income generating capacity (gross income of €1,893 million). This performance was fuelled by the integration of BPI, which has driven up net interest income by 13.1%, fee and commission income by 20.3%, customer lending by 11.3% and customer funds by 11.2%.

    Profitability at the CaixaBank Group was up 65 basis points quarter on quarter to 6.2% (3.7% in the first quarter of 2016), while ROTE from the banking and insurance business was 9.0% and profit totalled €557 million.

    Commercial activity remains extremely healthy at CaixaBank, which is the market leader across all the main retail products and services, including payroll deposits (share of 25.9%). It also leads the way when it comes to online banking and mobile banking in Spain, with 5.4 million and 3.7 million customers, respectively. CaixaBank’s business model relies heavily on technology and digitalisation: 90% of processes now digitalised, 97% of signatures now digital and 26,511 smart PC’s up and running.

    Net interest income climbs to €1,153 million (+13.1%)

    Against a backdrop of rock-bottom interest rates, net interest income totalled €1,153 million (+13.1% year on year) following the integration of business from BPI, which contributed growth of 6.8%. At CaixaBank, net interest income gained 6.3% largely in response to sound management of retail activity, with a sharp reduction in the cost of maturity deposits (-55bp) and a drop in income due to diminishing returns on the loan portfolio and the fixed income portfolio, in turn due to the drop in market interest rates.

    Fee and commission income totalled €588 million. The change here (+20.3%) was due to the income deriving from CaixaBank’s own commercial activity (+11.6%) as well as BPI’s contribution to CaixaBank’s results (+8.7%).

    The change in recurring administrative expenses, depreciation and amortisation (up 9.8% to €1,101 million) was largely due to the integration of BPI (1.0% on a like-for-like basis) and also the ongoing drive to streamline and contain costs. Also affecting performance in the period were the early retirements and the labour agreements aimed at streamlining the workforce.

    Pre-impairment income amounted to €792 million (-13.8%), mainly due to lower levels of income generation on financial assets –in 2016 it included the materialisation of unrealised capital gains on fixed-income assets– and also on the investee portfolio, where the change was partly due to the sale of 2% of BPI’s stake in BFA (€-97 million) and other perimeter changes.

    Customer funds and lending up 11%

    Total customer funds stood at €338,053 million, up 11.2% in 2017 following the integration of BPI. Customer deposits at CaixaBank remained stable in the quarter, which saw 2.8% growth in demand deposits and a 19.4% drop in term deposits.

     Loans and advances to customers, gross, totalled €227,934 million, up 11.3% in the quarter following the integration of BPI. Stripping out this impact, both the total portfolio and the performing portfolio at CaixaBank remained stable.

    Meanwhile, figures for the different segments at CaixaBank revealed: (i) positive growth in new loans for home purchases (+11.5%), consumer loans (+32%) and loans to businesses (+46.9%), which helped to offset the deleveraging process affecting Loans to individuals – other, and (ii) the reduced weighting of financing to real estate developers within the total loan portfolio (3.9% at 31 March 2017) in response to sound management of distressed assets.

    Turning to commercial activity, highlights during the period included the sharp growth seen in the insurance and asset management businesses. CaixaBanks’s assets under management totalled €84,693 million (+3.4% in 2017) following the success of the campaigns rolled out, the extensive range of products on offer and the ongoing market recovery. As in previous years, assets under management through investment funds, portfolios and SIVACs gained a sizeable €58,896 million (+3.9% in 2017), while pension plans also performed well (+2.3% in 2017) to reach €25,797 million.

    CaixaBank is the market leader when it comes to investment fund participants and assets under management, with a share of 18.2%, and also pension plans, with a share of 23.2%.

    The Group has an NPL ratio of 6.7%

    The CaixaBank Group’s NPL ratio was 6.7% (6.9% at 31 December 2016) following the integration of BPI, while the NPL coverage ratio improved to 49% (47% at year-end 2016). Non-performing loans, excluding the incorporation of balances following the acquisition of BPI, were down €127 million in the quarter (down €1,798 million in the last twelve months), showing the improving quality of the loan portfolio.

    Impairment losses on financial assets and other charges to provisions stood at €619 million (+51.1%), following the recognition in the quarter of €152 million associated with early retirements and €154 million in write-downs on exposure to the SAREB.

    The portfolio of net foreclosed real estate assets available for sale amounted to €6,285 million, with a coverage ratio of 59%.

    Following the trend seen in recent periods, the first quarter of 2017 saw fewer additions to the portfolio of foreclosed assets along with consistently high levels of asset sales, with €1,719 million in proceeds over the last twelve months (sales and rentals) and positive proceeds on sales since the fourth quarter of 2015. The margin of proceeds on sales to net book value was 15% in the first quarter of 2017.

    Real estate assets held for rent amounted to €3,088 million, net of provisions. The portfolio has an occupancy rate of 90%.

    Full consolidation of the 84.5% stake in BPI

    In accordance with applicable accounting law, 7 February 2017 has been set as the effective assumption of control date and the total stake in BPI (84.5%) has been reported under the full consolidation method since 1 February, having been previously reported under the equity method (45.5%). In the last two months (February and March), BPI has contributed €50 million to CaixaBank’s total earnings.

    Meanwhile, the net result of measuring BPI’s assets and liabilities at fair value as of the effective takeover date, as a result of the business combination, was €256 million. After reporting a net attributable loss of €97 million following BPI’s sale of 2% of BFA, the Group’s consolidated income statement includes a positive net impact in the quarter of €159 million.

    This net result will allow the Group to meet future restructuring costs, which were estimated at €155 million net attributable to the Group (€250 million gross) in the announcement of the takeover bid. It is therefore estimated that the acquisition will have a neutral overall impact on the financial statements.

    The impact on capital of the acquisition of Portuguese bank BPI (-108bp) had already been covered in advance in 2016 through the sale of treasury shares totalling €1,322 million. Following the acquisition, the CaixaBank Group had a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.5% at 31 March 2017, within the 11-12% band envisaged in the 2015-2018 Strategic Plan.

    Meanwhile, fully-loaded total capital was 15.1%, exceeding the 14.5% target established in the Strategic Plan. This ratio improved in the quarter (+67bp) following the placement of €1,000 million in subordinated bonds on the institutional market.

    Welfare Projects: Budget of €510 million

    In the first quarter of 2017, the ”la Caixa” Banking Foundation reached various milestones in all three of its priority areas of action: social work, research and the dissemination of culture and knowledge. The Foundation’s budget has been raised from the €500 million allowance of the past nine years to €510 million this year round, as a further show of its ongoing commitment to its foundational pursuits.

    This increase is envisaged in the 2016-2019 Strategic Plan of the Banking Foundation, which directly manages and oversees Welfare Projects and pools together at CriteriaCaixa all the shareholdings of the ”la Caixa” Group, including CaixaBank.

    Under this plan, ground-breaking social programmes intended to bring about change from the backbone of the Foundation’s work. Key initiatives here include CaixaProinfancia, which aims to tackle problem of child poverty. Between January and March of this year, the programme has already reached out to approximately 37,000 vulnerable children. The scope of the initiative has now been expanded to reach new cities, including Burgos and Valladolid. 

    Over 5,000 job opportunities

    Job market inclusion is another of the strategic pursuits of Welfare Projects, and here Incorpora is the flagship initiative. This project has effectively provided a total of 5,327 jobs in the first quarter to people at risk or facing job market exclusion, thanks to the collaboration and support of 2,685 companies.

    Welfare Projects also has a specific initiative up and running to help prison inmates nearing the end of their sentence to re-join society and find a job: Reincorpora. The Spanish Minister of Home Affairs, Juan Ignacio Zoido, and the chairman of the ”la Caixa” Banking Foundation, Isidro Fainé, have recently signed a deal to renew this programme over 2017, which will mean devising job market insertion plans for 1,500 inmates at a cost of €4.1 million.

    Within the framework of the Volunteering programme of ”la Caixa”, a further milestone was reached in the quarter: Social Outreach Week, which managed to mobilise 11,222 employees from CaixaBank and the Banking Foundation. Through this pioneering solidarity initiative, our employees took part as volunteers in over 3,700 activities at 1,500 different entities and organisations from all across Spain.

    Providing easier access to housing is another strategic priority under the Strategic Plan. Through different initiatives, the ”la Caixa” Group already has upwards of 33,000 flats available. These homes, with monthly rents starting at €85, are available all over Spain for low-income people and households.

    On the subject of healthcare, Welfare Projects have extended its aid programme for people with advanced illnesses to a total of 115 hospitals and 129 home care support units. Between January and March, over 5,700 patients received psychological and social support.

    Similarly, the ”la Caixa” Banking Foundation and the Telefónica Foundation are continuing to work together on their joint ProFuturo project. During the first quarter, a delegation visited the refugee camps in Lebanon with the aim of setting up the project there.

    The eduCaixa programme has now reached out to over 670,000 pupils from a total of 4,154 Spanish schools. The initiative offers innovative, practical and easy-access educational resources, with programmes designed to hone entrepreneurial skills, boost careers in science and disseminate art and culture.

    Turning to international projects and ventures, highlights for the quarter include the success of the fund-raising campaign for the Child Vaccination Programme, through CaixaBank’s Private Banking arm. In the first quarter, 94 companies made a combined contribution of €128,000, three times the amount raised a year ago. Meanwhile, 580 Private Banking customers have contributed a total of €170,000 between them, ten times the amount obtained in 2016.

    Commitment to cutting-edge research and cultural outreach

    The Banking Foundation’s ongoing commitment to research is focused on health and other challenges facing the human race, such as climate change and social change. It pursues these objectives through three lines of action: offering grants to promising young scientists; providing aid to research centres and projects; and transferring research results to society. 

    Key highlights in the quarter in the realm of research included the start-up of a ground-breaking study for the early detection of Alzheimer’s in people with Down syndrome, in partnership with Hospital de la Santa Creu i Sant Pau; helping the Catalan Institute of Oncology devise more effective treatments for lung tumours; the presentation of a trial headed by IrsiCaixa for a therapeutic vaccine against HIV, which has enabled five people to control the virus without having to undergo treatment; championing a project on brain health alongside Instituto Guttman and, last but not least, unveiling the new incarnation of Instituto de Salud Global de Barcelona. 

    Meanwhile, the Talking Brains. Programmed to talk exhibition was opened at CosmoCaixa and the Social Observatory of ”la Caixa” has published a second dossier on Youth unemployment and poverty, a structural problem?

    In the cultural sphere, the main milestone for the quarter was the unveiling of CaixaForum Seville, the work of architect Guillermo Vázquez Consuegra. Spanning 7,500 square metres, the building is now the third largest CaixaForum venue behind Barcelona and Madrid.  

    Notable exhibitions opened between January and March include The Pillars of Europe. The Middle Ages at the British Museum (CaixaForum Barcelona), Ramon Casas. A much-yearned modernity (CaixaForum Madrid), Ming. The Golden Empire (CaixaForum Zaragoza) and Gabriel Casas. Photography, information and modernity, 1929-1939 (CaixaForum Palma).

    ]]>
  • The CaixaBank Group now leads the Iberian financial market after incorporating a further 2 million customers, €23,328 million, gross, in loans and advances to customers and €34,037 million in customer funds.
  • Net interest income up 13.1% to reach €1,153 million. Meanwhile, fee and commission income totals €588 million (+20.3%) and recurring expenses on a like-for-like basis remain stable (+1%) thanks to the ongoing efforts to pare back costs.
  • Commercial activity at CaixaBank remains extremely healthy, with sharp growth in the insurance and asset management business. CaixaBank is the market leader when it comes to all the main retail products and services, as well as in payroll deposits (share of 25.9%).
  • CaixaBank’s business model relies heavily on technology and digitalisation: 90% of processes now digitalised, 97% of signatures now digital and 26,511 smart PC’s up and running.
  • The NPL ratio is now 6.7% following the incorporation of BPI, while the coverage ratio improves to 49% (47% at year-end 2016).
  • Impairment losses on financial assets and other charges to provisions stand at €619 million (+51.1%), following the recognition in the quarter of €152 million associated with early retirements, among other non-recurring impacts and €154 million in write-downs on exposure to the SAREB.
  • The CaixaBank Group has a fully-loaded Common Equity Tier 1 (CET1) of 11.5%, comfortably within the target band of 11-12% envisaged in the Strategic Plan. The impact on capital of the acquisition of BPI had already been covered in 2016 through the sale of treasury shares.
  • Profitability up 65 basis points quarter on quarter to 6.2% (3.7% in the first quarter of 2016), with 0% ROTE from the banking and insurance business and earnings of €557 million, excluding the non-core real estate, equity investments and BPI businesses.
  • Since the 1 February 2017, CaixaBank has been reporting its 84.5% stake in BPI under the full consolidation method. The Portuguese bank contributed €50 million to CaixaBank’s earnings in the last two months. The income statement also includes a positive net impact of €159 million. Considering that the future restructuring costs are estimated at approximately €155 million attributable to the Group, it is therefore estimated that the transaction will have a neutral overall impact.
  • CaixaBank, a leading financial institution headed and run by Jordi Gual (chairman) and Gonzalo Gortázar (CEO), reported net attributable profit of €403 million in the first quarter of 2017, up 47.9% year on year.

    During the quarter, the CaixaBank Group effectively has become the leading bank in the Iberian financial sector, with a business volume of €565,987 million and 15.8 million customers. Following the integration of BPI, the Bank has gained a further 2 million customers, €34,037 million in customer funds and €23,328 million in loans and advances to customers, gross.

    The change in the first quarter was largely due to the full consolidation of the results of BPI from February 2017 onwards, which naturally impacted the main headings of CaixaBank’s income statement.

    The Bank reported strong commercial activity in the quarter, enabling it to boost its income generating capacity (gross income of €1,893 million). This performance was fuelled by the integration of BPI, which has driven up net interest income by 13.1%, fee and commission income by 20.3%, customer lending by 11.3% and customer funds by 11.2%.

    Profitability at the CaixaBank Group was up 65 basis points quarter on quarter to 6.2% (3.7% in the first quarter of 2016), while ROTE from the banking and insurance business was 9.0% and profit totalled €557 million.

    Commercial activity remains extremely healthy at CaixaBank, which is the market leader across all the main retail products and services, including payroll deposits (share of 25.9%). It also leads the way when it comes to online banking and mobile banking in Spain, with 5.4 million and 3.7 million customers, respectively. CaixaBank’s business model relies heavily on technology and digitalisation: 90% of processes now digitalised, 97% of signatures now digital and 26,511 smart PC’s up and running.

    Net interest income climbs to €1,153 million (+13.1%)

    Against a backdrop of rock-bottom interest rates, net interest income totalled €1,153 million (+13.1% year on year) following the integration of business from BPI, which contributed growth of 6.8%. At CaixaBank, net interest income gained 6.3% largely in response to sound management of retail activity, with a sharp reduction in the cost of maturity deposits (-55bp) and a drop in income due to diminishing returns on the loan portfolio and the fixed income portfolio, in turn due to the drop in market interest rates.

    Fee and commission income totalled €588 million. The change here (+20.3%) was due to the income deriving from CaixaBank’s own commercial activity (+11.6%) as well as BPI’s contribution to CaixaBank’s results (+8.7%).

    The change in recurring administrative expenses, depreciation and amortisation (up 9.8% to €1,101 million) was largely due to the integration of BPI (1.0% on a like-for-like basis) and also the ongoing drive to streamline and contain costs. Also affecting performance in the period were the early retirements and the labour agreements aimed at streamlining the workforce.

    Pre-impairment income amounted to €792 million (-13.8%), mainly due to lower levels of income generation on financial assets –in 2016 it included the materialisation of unrealised capital gains on fixed-income assets– and also on the investee portfolio, where the change was partly due to the sale of 2% of BPI’s stake in BFA (€-97 million) and other perimeter changes.

    Customer funds and lending up 11%

    Total customer funds stood at €338,053 million, up 11.2% in 2017 following the integration of BPI. Customer deposits at CaixaBank remained stable in the quarter, which saw 2.8% growth in demand deposits and a 19.4% drop in term deposits.

     Loans and advances to customers, gross, totalled €227,934 million, up 11.3% in the quarter following the integration of BPI. Stripping out this impact, both the total portfolio and the performing portfolio at CaixaBank remained stable.

    Meanwhile, figures for the different segments at CaixaBank revealed: (i) positive growth in new loans for home purchases (+11.5%), consumer loans (+32%) and loans to businesses (+46.9%), which helped to offset the deleveraging process affecting Loans to individuals – other, and (ii) the reduced weighting of financing to real estate developers within the total loan portfolio (3.9% at 31 March 2017) in response to sound management of distressed assets.

    Turning to commercial activity, highlights during the period included the sharp growth seen in the insurance and asset management businesses. CaixaBanks’s assets under management totalled €84,693 million (+3.4% in 2017) following the success of the campaigns rolled out, the extensive range of products on offer and the ongoing market recovery. As in previous years, assets under management through investment funds, portfolios and SIVACs gained a sizeable €58,896 million (+3.9% in 2017), while pension plans also performed well (+2.3% in 2017) to reach €25,797 million.

    CaixaBank is the market leader when it comes to investment fund participants and assets under management, with a share of 18.2%, and also pension plans, with a share of 23.2%.

    The Group has an NPL ratio of 6.7%

    The CaixaBank Group’s NPL ratio was 6.7% (6.9% at 31 December 2016) following the integration of BPI, while the NPL coverage ratio improved to 49% (47% at year-end 2016). Non-performing loans, excluding the incorporation of balances following the acquisition of BPI, were down €127 million in the quarter (down €1,798 million in the last twelve months), showing the improving quality of the loan portfolio.

    Impairment losses on financial assets and other charges to provisions stood at €619 million (+51.1%), following the recognition in the quarter of €152 million associated with early retirements and €154 million in write-downs on exposure to the SAREB.

    The portfolio of net foreclosed real estate assets available for sale amounted to €6,285 million, with a coverage ratio of 59%.

    Following the trend seen in recent periods, the first quarter of 2017 saw fewer additions to the portfolio of foreclosed assets along with consistently high levels of asset sales, with €1,719 million in proceeds over the last twelve months (sales and rentals) and positive proceeds on sales since the fourth quarter of 2015. The margin of proceeds on sales to net book value was 15% in the first quarter of 2017.

    Real estate assets held for rent amounted to €3,088 million, net of provisions. The portfolio has an occupancy rate of 90%.

    Full consolidation of the 84.5% stake in BPI

    In accordance with applicable accounting law, 7 February 2017 has been set as the effective assumption of control date and the total stake in BPI (84.5%) has been reported under the full consolidation method since 1 February, having been previously reported under the equity method (45.5%). In the last two months (February and March), BPI has contributed €50 million to CaixaBank’s total earnings.

    Meanwhile, the net result of measuring BPI’s assets and liabilities at fair value as of the effective takeover date, as a result of the business combination, was €256 million. After reporting a net attributable loss of €97 million following BPI’s sale of 2% of BFA, the Group’s consolidated income statement includes a positive net impact in the quarter of €159 million.

    This net result will allow the Group to meet future restructuring costs, which were estimated at €155 million net attributable to the Group (€250 million gross) in the announcement of the takeover bid. It is therefore estimated that the acquisition will have a neutral overall impact on the financial statements.

    The impact on capital of the acquisition of Portuguese bank BPI (-108bp) had already been covered in advance in 2016 through the sale of treasury shares totalling €1,322 million. Following the acquisition, the CaixaBank Group had a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.5% at 31 March 2017, within the 11-12% band envisaged in the 2015-2018 Strategic Plan.

    Meanwhile, fully-loaded total capital was 15.1%, exceeding the 14.5% target established in the Strategic Plan. This ratio improved in the quarter (+67bp) following the placement of €1,000 million in subordinated bonds on the institutional market.

    Welfare Projects: Budget of €510 million

    In the first quarter of 2017, the ”la Caixa” Banking Foundation reached various milestones in all three of its priority areas of action: social work, research and the dissemination of culture and knowledge. The Foundation’s budget has been raised from the €500 million allowance of the past nine years to €510 million this year round, as a further show of its ongoing commitment to its foundational pursuits.

    This increase is envisaged in the 2016-2019 Strategic Plan of the Banking Foundation, which directly manages and oversees Welfare Projects and pools together at CriteriaCaixa all the shareholdings of the ”la Caixa” Group, including CaixaBank.

    Under this plan, ground-breaking social programmes intended to bring about change from the backbone of the Foundation’s work. Key initiatives here include CaixaProinfancia, which aims to tackle problem of child poverty. Between January and March of this year, the programme has already reached out to approximately 37,000 vulnerable children. The scope of the initiative has now been expanded to reach new cities, including Burgos and Valladolid. 

    Over 5,000 job opportunities

    Job market inclusion is another of the strategic pursuits of Welfare Projects, and here Incorpora is the flagship initiative. This project has effectively provided a total of 5,327 jobs in the first quarter to people at risk or facing job market exclusion, thanks to the collaboration and support of 2,685 companies.

    Welfare Projects also has a specific initiative up and running to help prison inmates nearing the end of their sentence to re-join society and find a job: Reincorpora. The Spanish Minister of Home Affairs, Juan Ignacio Zoido, and the chairman of the ”la Caixa” Banking Foundation, Isidro Fainé, have recently signed a deal to renew this programme over 2017, which will mean devising job market insertion plans for 1,500 inmates at a cost of €4.1 million.

    Within the framework of the Volunteering programme of ”la Caixa”, a further milestone was reached in the quarter: Social Outreach Week, which managed to mobilise 11,222 employees from CaixaBank and the Banking Foundation. Through this pioneering solidarity initiative, our employees took part as volunteers in over 3,700 activities at 1,500 different entities and organisations from all across Spain.

    Providing easier access to housing is another strategic priority under the Strategic Plan. Through different initiatives, the ”la Caixa” Group already has upwards of 33,000 flats available. These homes, with monthly rents starting at €85, are available all over Spain for low-income people and households.

    On the subject of healthcare, Welfare Projects have extended its aid programme for people with advanced illnesses to a total of 115 hospitals and 129 home care support units. Between January and March, over 5,700 patients received psychological and social support.

    Similarly, the ”la Caixa” Banking Foundation and the Telefónica Foundation are continuing to work together on their joint ProFuturo project. During the first quarter, a delegation visited the refugee camps in Lebanon with the aim of setting up the project there.

    The eduCaixa programme has now reached out to over 670,000 pupils from a total of 4,154 Spanish schools. The initiative offers innovative, practical and easy-access educational resources, with programmes designed to hone entrepreneurial skills, boost careers in science and disseminate art and culture.

    Turning to international projects and ventures, highlights for the quarter include the success of the fund-raising campaign for the Child Vaccination Programme, through CaixaBank’s Private Banking arm. In the first quarter, 94 companies made a combined contribution of €128,000, three times the amount raised a year ago. Meanwhile, 580 Private Banking customers have contributed a total of €170,000 between them, ten times the amount obtained in 2016.

    Commitment to cutting-edge research and cultural outreach

    The Banking Foundation’s ongoing commitment to research is focused on health and other challenges facing the human race, such as climate change and social change. It pursues these objectives through three lines of action: offering grants to promising young scientists; providing aid to research centres and projects; and transferring research results to society. 

    Key highlights in the quarter in the realm of research included the start-up of a ground-breaking study for the early detection of Alzheimer’s in people with Down syndrome, in partnership with Hospital de la Santa Creu i Sant Pau; helping the Catalan Institute of Oncology devise more effective treatments for lung tumours; the presentation of a trial headed by IrsiCaixa for a therapeutic vaccine against HIV, which has enabled five people to control the virus without having to undergo treatment; championing a project on brain health alongside Instituto Guttman and, last but not least, unveiling the new incarnation of Instituto de Salud Global de Barcelona. 

    Meanwhile, the Talking Brains. Programmed to talk exhibition was opened at CosmoCaixa and the Social Observatory of ”la Caixa” has published a second dossier on Youth unemployment and poverty, a structural problem?

    In the cultural sphere, the main milestone for the quarter was the unveiling of CaixaForum Seville, the work of architect Guillermo Vázquez Consuegra. Spanning 7,500 square metres, the building is now the third largest CaixaForum venue behind Barcelona and Madrid.  

    Notable exhibitions opened between January and March include The Pillars of Europe. The Middle Ages at the British Museum (CaixaForum Barcelona), Ramon Casas. A much-yearned modernity (CaixaForum Madrid), Ming. The Golden Empire (CaixaForum Zaragoza) and Gabriel Casas. Photography, information and modernity, 1929-1939 (CaixaForum Palma).

    ]]>
    0
    <![CDATA[A different bank. By Gonzalo Gortázar, CEO of CaixaBank]]> https://blog.caixabank.es/?p=23645 2017-04-26T00:00:00.0Z 2017-04-26T00:00:00.0Z <![CDATA[A different bank. By Gonzalo Gortázar, CEO of CaixaBank]]> The economic crisis of recent years has affected everyone. Citizens were the most affected, but the financial sector has also suffered the rigours of the recession, worsened by a deterioration of its public image.

    Each financial entity has faced this crisis in order to overcome it and recover the trust of society. I wish to recall what CaixaBank has done during these years and how we continue to contribute to society today to continue improving its well-being. It is our commitment, present in our foundational values.

    Faithful to our vocation, during the crisis, the Caixa Group made available a collection of more than 33,500 homes to families under a social support lease scheme. A significant part of these homes are the result of the over 22,000 dations in payment made. It is a way to affront a specific problem, assuming as one’s own the complex situation that may be experienced by a customer during a moment in his/her life, offering socially responsible solutions.

    Our presence in the territory through our branches extends to 93% of municipalities with over 5,000 inhabitants, providing coverage to 98.7% of the Spanish population. In times in which many people no longer have a branch, CaixaBank continues to pledge for a mixed model, converting us into one of the most innovative banks in the world in terms of on-line services, without forgetting in-person banking, renewed in our new branch models.

    Furthermore, our net contribution to resolving the crisis amounts to €4,100 million. It arises from contributions to the Deposit Guarantee Fund and the European Resolution Fund, the refund of public aid received at the time by Banca Cívica and the contribution to Sareb. In a complicated environment in which most of society perceives that the entire Spanish banking sector required public support, it is important to point out that entities such as CaixaBank not only does not require it, rather that we contribute with equity to resolve the problem.

    CaixaBank is, of course, different and I can provide another example: the almost 15,000 employees that have devoted hours of their free time to working as volunteers, collaborating with the ”la Caixa” Foundation’s social projects. A foundation that is also fed by CaixaBank’s dividend to contribute more significantly to change disadvantaged sectors of society for the best, through an annual budget of €500 million.

    The banking sector will only be profitable in a sustainable manner if society perceives that it generates value. At CaixaBank, we are convinced that we will continue contributing value to our customers, shareholders and to society in general, because our social commitment goes beyond not only the social project undertaken by our shareholder the ”la Caixa” Banking Foundation, but also due to the different way in which we carry out our financial activities.

    ]]>
    The economic crisis of recent years has affected everyone. Citizens were the most affected, but the financial sector has also suffered the rigours of the recession, worsened by a deterioration of its public image.

    Each financial entity has faced this crisis in order to overcome it and recover the trust of society. I wish to recall what CaixaBank has done during these years and how we continue to contribute to society today to continue improving its well-being. It is our commitment, present in our foundational values.

    Faithful to our vocation, during the crisis, the Caixa Group made available a collection of more than 33,500 homes to families under a social support lease scheme. A significant part of these homes are the result of the over 22,000 dations in payment made. It is a way to affront a specific problem, assuming as one’s own the complex situation that may be experienced by a customer during a moment in his/her life, offering socially responsible solutions.

    Our presence in the territory through our branches extends to 93% of municipalities with over 5,000 inhabitants, providing coverage to 98.7% of the Spanish population. In times in which many people no longer have a branch, CaixaBank continues to pledge for a mixed model, converting us into one of the most innovative banks in the world in terms of on-line services, without forgetting in-person banking, renewed in our new branch models.

    Furthermore, our net contribution to resolving the crisis amounts to €4,100 million. It arises from contributions to the Deposit Guarantee Fund and the European Resolution Fund, the refund of public aid received at the time by Banca Cívica and the contribution to Sareb. In a complicated environment in which most of society perceives that the entire Spanish banking sector required public support, it is important to point out that entities such as CaixaBank not only does not require it, rather that we contribute with equity to resolve the problem.

    CaixaBank is, of course, different and I can provide another example: the almost 15,000 employees that have devoted hours of their free time to working as volunteers, collaborating with the ”la Caixa” Foundation’s social projects. A foundation that is also fed by CaixaBank’s dividend to contribute more significantly to change disadvantaged sectors of society for the best, through an annual budget of €500 million.

    The banking sector will only be profitable in a sustainable manner if society perceives that it generates value. At CaixaBank, we are convinced that we will continue contributing value to our customers, shareholders and to society in general, because our social commitment goes beyond not only the social project undertaken by our shareholder the ”la Caixa” Banking Foundation, but also due to the different way in which we carry out our financial activities.

    ]]>
    0
    <![CDATA[Jordi Gual and Gonzalo Gortázar say BPI establishes CaixaBank as the leading bank in the Iberian Peninsula in terms of assets and customers, with business volume of 564 billion euros]]> https://blog.caixabank.es/?p=23645 2017-04-06T10:00:00.0Z 2017-04-06T10:00:00.0Z <![CDATA[Jordi Gual and Gonzalo Gortázar say BPI establishes CaixaBank as the leading bank in the Iberian Peninsula in terms of assets and customers, with business volume of 564 billion euros]]> The CaixaBank Annual General Meeting today approved the bank’s 2016 management and results. CaixaBank secured support from the majority of shareholders, who backed a number of resolutions proposed by the Board of Directors, including the ratification and appointment of Jordi Gual, José Serna, Koro Usarraga, Alejandro García-Bragado and Natalia Aznárez as directors, and likewise the appointment of Ignacio Garralda. 

    During their speeches to shareholders, Jordi Gual and Gonzalo Gortázar commended CaixaBank’s outstanding business model, which has seen the bank emerge stronger from Spain’s financial crisis. According to the CaixaBank Chairman, “being an investor, employee or customer of our bank is to champion a fresh approach to banking”.

    In his first speech at an Annual General Meeting as CaixaBank Chairman, Jordi Gual declared that despite a highly challenging climate in 2016, “the bank yet again demonstrated its strength, and further enhanced its leading position”. This was made possible “by the hard work of our human team - a critical aspect for the bank, and who we hereby thank for their dedication - and a business model that proves its worth each and every day”.

    The financial system is underpinning the economic recovery

    The CaixaBank Chairman opened his speech by offering an overview of the global macroeconomic climate, as well as prospects for 2017. “The global economy posted similar growth in 2016 to that of the previous year, with signs of expansion gaining traction towards the end of the year, which we expect to extend into 2017”, said Gual. 

    Gual announced that the bank expects the pace of Spanish economic growth to ease due to certain temporary factors losing impetus. Nonetheless, “we believe GDP growth will stand close to 3%” he said.

    The CaixaBank Chairman emphasised that the financial system “has clearly underpinned the economic recovery. New credit operations are showing an upbeat trend, particularly for home purchases and consumption, and we expect this positivity to continue in 2017”. 

    Satisfaction with the bank’s commercial success, the acquisition of BPI and progress in the 2015-2018 Strategic Plan

    The Chairman of CaixaBank said “our commercial strength represents a competitive advantage that we will harness to further expand our footprint and market shares, even amid a climate fraught with difficulties. Our model has again demonstrated that it works” Gual emphasized.

    The bank’s firmly established leadership in Spain has now spread to the entire Iberian Peninsula. In the words of Jordi Gual, “we are delighted to have successfully completed the acquisition of BPI, which is the 80th acquisition in the bank’s history, and establishes us as the leading Iberian bank in terms of assets, business volume and branches. BPI represents a project that will generate sustainable value for our shareholders and BPI shareholders alike”.

    Regarding the 2015-2018 Strategic Plan, the CaixaBank Chairman said he was satisfied with the progress secured in the key strategic aspects, saying that the plan remained in place for the next two years.

    “The priorities for the second half of the 2015-2018 Strategic Plan include driving revenue diversification, as well as optimising the insurance and asset management businesses”, said Jordi Gual.

    "These strategic priorities never lose sight of our commitment to social engagement, nor our determination to conduct responsible business at all times”, he added. “We remain committed to strengthening this engagement via initiatives to boost financial inclusion and provide housing assistance, as well as running corporate volunteering initiatives”.

     Absolute commitment to dividends

     Jordi Gual also offered an overview of CaixaBank’s stock performance and dividend policy. Despite equity markets performing poorly in the first half of 2016, the stock gained 3.6% value in the full year, outperforming the Spanish and European banking industries as a whole. The stock’s performance was even stronger in the first quarter of 2017, up 28.3%, which is 11 percentage points more than the Spanish banking industry as a whole.

    According to the Chairman of CaixaBank, “one key driver behind this standout performance has been our dividend policy”, which offers a higher dividend yield than the average for banks in Spain and the Eurozone.

    “Our commitment to the dividend is absolute, and will remain so”, said Gual. He added that the intention of bringing forward the June dividend and making a single payment of 6 cents in April, would put “total remuneration in 2016 at 13 cents per share, meaning a cash dividend representing 54% of profit (known as cash payout), in line with the targets envisaged in the Strategic Plan, indicating a ratio of at least 50%”.

    AGM

    CaixaBank, the best positioned bank in the new climate

    In his speech, the CaixaBank CEO, Gonzalo Gortázar, examined the hallmarks of the CaixaBank business model: a nationwide footprint with extensive capillary reach, a specific and customised range of products, leadership in innovation and digitisation, and engagement with the community.

    According to Gortázar, “no major overhauls are required at CaixaBank. In fact, we mainly need to keep doing what we do best: attracting customers and providing the finest service via our excellent branch network as well as other channels, and unlocking the value of our outstanding competitive position”.

    The bank’s priorities “must focus on service quality and a global understanding of customer requirements, as well as driving digital transformation, remaining steadfast in our social engagement, and to particularly support the management and development of our great team”.

    Gonzalo Gortázar pointed out that “CaixaBank is the best positioned bank in the face of changing market conditions”, with prospects of higher interest rates, lower unemployment, a need for savings in society, rising purchasing power for households, and a credit recovery.

    Entrenched results growth over the last five years

    The CEO of CaixaBank examined various aspects of the bank’s performance in 2016. In terms of commercial performance, CaixaBank’s growth significantly outperformed the market. In long-term savings products, such as investment funds, pension plans and savings insurance, “our market shares stand at around 18.5%, 23% and 25% respectively, each posting growth of 3%. These activities combined represented a volume of 120 billion euros in December. As for the business performance, customer funds grew by 7.3 billion euros”, said Gonzalo Gortázar.

    Regarding results in the year, the CEO first pointed out a positive trend for revenue and secondly a decline in costs. “Since 2011, factoring in costs at acquired banks, we have managed to drive down recurrent costs by 18%. This represents a major exercise in discipline and control across the organisation, securing very good results. We must and will continue in this line”, said Gortázar.

    He specifically underscored the robust growth seen in group results over the last 5 years, rising from profit of 230 million euros in 2012 to 1 billion euros at year-end 2016.

     From the leading bank in Spain to the leader in the Iberian Peninsula

    Gonzalo Gortázar also dedicated a considerable section of his speech to the culmination of the BPI acquisition; “we embark with great optimism and determination on a new era, which will focus on driving forward the BPI project”.

    According to Gortázar, “the acquisition makes both business and financial sense; the two banks are naturally complimentary. The operation sees us advance from being the leading bank in Spain to the leading bank in the Iberian Peninsula, with business volume of 564 billion euros” said Gonzalo Gortázar.

    The CEO also announced that “work is already underway, on a partnership basis, on a “100-day Plan” that aims to shape a more efficient model, as well as to identify reasonable and quick means of improving operations and services at the bank, driving down costs, and above all lifting revenue. The new operations should get underway within two months, and we are highly confident that the forecast annual synergies of 120 million euros will be comfortably secured”.

    Gortázar also stated that he was “impressed by the diligence, capability and spirit of partnership demonstrated by the teams at BPI. We are convinced that BPI is the best bank in the country, and also offers the greatest potential”.

    The CaixaBank CEO also praised the “outstanding attitude” demonstrated by CaixaBank throughout the financial crisis, during which it remained steadfastly committed to supporting financial inclusion. It has accepted more than 22,400 payments in kind since 2009, with the same families remaining in the property as tenants in 60% of cases, and often benefitting from a subsidised rent. The bank has also offered 33,500 social rent homes, and helped to relieve the financial crisis with total contributions of 4.1 billion euros

    Tributes to Isidro Fainé

    During their speeches, both Jordi Gual and Gonzalo Gortázar extended their thanks to Isidro Fainé for his leadership, sense of foresight and dedicated service, acknowledging his critical contribution to driving growth, modernisation and internationalisation at “la Caixa” and subsequently CaixaBank.

    The CaixaBank Chairman and CEO both praised his extraordinary contributions, stating their conviction that Fainé, as Chairman of the Banking Foundation and CriteriaCaixa, will continue his outstanding work to support Welfare Projects and affiliated initiatives.

    ]]>
    The CaixaBank Annual General Meeting today approved the bank’s 2016 management and results. CaixaBank secured support from the majority of shareholders, who backed a number of resolutions proposed by the Board of Directors, including the ratification and appointment of Jordi Gual, José Serna, Koro Usarraga, Alejandro García-Bragado and Natalia Aznárez as directors, and likewise the appointment of Ignacio Garralda. 

    During their speeches to shareholders, Jordi Gual and Gonzalo Gortázar commended CaixaBank’s outstanding business model, which has seen the bank emerge stronger from Spain’s financial crisis. According to the CaixaBank Chairman, “being an investor, employee or customer of our bank is to champion a fresh approach to banking”.

    In his first speech at an Annual General Meeting as CaixaBank Chairman, Jordi Gual declared that despite a highly challenging climate in 2016, “the bank yet again demonstrated its strength, and further enhanced its leading position”. This was made possible “by the hard work of our human team - a critical aspect for the bank, and who we hereby thank for their dedication - and a business model that proves its worth each and every day”.

    The financial system is underpinning the economic recovery

    The CaixaBank Chairman opened his speech by offering an overview of the global macroeconomic climate, as well as prospects for 2017. “The global economy posted similar growth in 2016 to that of the previous year, with signs of expansion gaining traction towards the end of the year, which we expect to extend into 2017”, said Gual. 

    Gual announced that the bank expects the pace of Spanish economic growth to ease due to certain temporary factors losing impetus. Nonetheless, “we believe GDP growth will stand close to 3%” he said.

    The CaixaBank Chairman emphasised that the financial system “has clearly underpinned the economic recovery. New credit operations are showing an upbeat trend, particularly for home purchases and consumption, and we expect this positivity to continue in 2017”. 

    Satisfaction with the bank’s commercial success, the acquisition of BPI and progress in the 2015-2018 Strategic Plan

    The Chairman of CaixaBank said “our commercial strength represents a competitive advantage that we will harness to further expand our footprint and market shares, even amid a climate fraught with difficulties. Our model has again demonstrated that it works” Gual emphasized.

    The bank’s firmly established leadership in Spain has now spread to the entire Iberian Peninsula. In the words of Jordi Gual, “we are delighted to have successfully completed the acquisition of BPI, which is the 80th acquisition in the bank’s history, and establishes us as the leading Iberian bank in terms of assets, business volume and branches. BPI represents a project that will generate sustainable value for our shareholders and BPI shareholders alike”.

    Regarding the 2015-2018 Strategic Plan, the CaixaBank Chairman said he was satisfied with the progress secured in the key strategic aspects, saying that the plan remained in place for the next two years.

    “The priorities for the second half of the 2015-2018 Strategic Plan include driving revenue diversification, as well as optimising the insurance and asset management businesses”, said Jordi Gual.

    "These strategic priorities never lose sight of our commitment to social engagement, nor our determination to conduct responsible business at all times”, he added. “We remain committed to strengthening this engagement via initiatives to boost financial inclusion and provide housing assistance, as well as running corporate volunteering initiatives”.

     Absolute commitment to dividends

     Jordi Gual also offered an overview of CaixaBank’s stock performance and dividend policy. Despite equity markets performing poorly in the first half of 2016, the stock gained 3.6% value in the full year, outperforming the Spanish and European banking industries as a whole. The stock’s performance was even stronger in the first quarter of 2017, up 28.3%, which is 11 percentage points more than the Spanish banking industry as a whole.

    According to the Chairman of CaixaBank, “one key driver behind this standout performance has been our dividend policy”, which offers a higher dividend yield than the average for banks in Spain and the Eurozone.

    “Our commitment to the dividend is absolute, and will remain so”, said Gual. He added that the intention of bringing forward the June dividend and making a single payment of 6 cents in April, would put “total remuneration in 2016 at 13 cents per share, meaning a cash dividend representing 54% of profit (known as cash payout), in line with the targets envisaged in the Strategic Plan, indicating a ratio of at least 50%”.

    AGM

    CaixaBank, the best positioned bank in the new climate

    In his speech, the CaixaBank CEO, Gonzalo Gortázar, examined the hallmarks of the CaixaBank business model: a nationwide footprint with extensive capillary reach, a specific and customised range of products, leadership in innovation and digitisation, and engagement with the community.

    According to Gortázar, “no major overhauls are required at CaixaBank. In fact, we mainly need to keep doing what we do best: attracting customers and providing the finest service via our excellent branch network as well as other channels, and unlocking the value of our outstanding competitive position”.

    The bank’s priorities “must focus on service quality and a global understanding of customer requirements, as well as driving digital transformation, remaining steadfast in our social engagement, and to particularly support the management and development of our great team”.

    Gonzalo Gortázar pointed out that “CaixaBank is the best positioned bank in the face of changing market conditions”, with prospects of higher interest rates, lower unemployment, a need for savings in society, rising purchasing power for households, and a credit recovery.

    Entrenched results growth over the last five years

    The CEO of CaixaBank examined various aspects of the bank’s performance in 2016. In terms of commercial performance, CaixaBank’s growth significantly outperformed the market. In long-term savings products, such as investment funds, pension plans and savings insurance, “our market shares stand at around 18.5%, 23% and 25% respectively, each posting growth of 3%. These activities combined represented a volume of 120 billion euros in December. As for the business performance, customer funds grew by 7.3 billion euros”, said Gonzalo Gortázar.

    Regarding results in the year, the CEO first pointed out a positive trend for revenue and secondly a decline in costs. “Since 2011, factoring in costs at acquired banks, we have managed to drive down recurrent costs by 18%. This represents a major exercise in discipline and control across the organisation, securing very good results. We must and will continue in this line”, said Gortázar.

    He specifically underscored the robust growth seen in group results over the last 5 years, rising from profit of 230 million euros in 2012 to 1 billion euros at year-end 2016.

     From the leading bank in Spain to the leader in the Iberian Peninsula

    Gonzalo Gortázar also dedicated a considerable section of his speech to the culmination of the BPI acquisition; “we embark with great optimism and determination on a new era, which will focus on driving forward the BPI project”.

    According to Gortázar, “the acquisition makes both business and financial sense; the two banks are naturally complimentary. The operation sees us advance from being the leading bank in Spain to the leading bank in the Iberian Peninsula, with business volume of 564 billion euros” said Gonzalo Gortázar.

    The CEO also announced that “work is already underway, on a partnership basis, on a “100-day Plan” that aims to shape a more efficient model, as well as to identify reasonable and quick means of improving operations and services at the bank, driving down costs, and above all lifting revenue. The new operations should get underway within two months, and we are highly confident that the forecast annual synergies of 120 million euros will be comfortably secured”.

    Gortázar also stated that he was “impressed by the diligence, capability and spirit of partnership demonstrated by the teams at BPI. We are convinced that BPI is the best bank in the country, and also offers the greatest potential”.

    The CaixaBank CEO also praised the “outstanding attitude” demonstrated by CaixaBank throughout the financial crisis, during which it remained steadfastly committed to supporting financial inclusion. It has accepted more than 22,400 payments in kind since 2009, with the same families remaining in the property as tenants in 60% of cases, and often benefitting from a subsidised rent. The bank has also offered 33,500 social rent homes, and helped to relieve the financial crisis with total contributions of 4.1 billion euros

    Tributes to Isidro Fainé

    During their speeches, both Jordi Gual and Gonzalo Gortázar extended their thanks to Isidro Fainé for his leadership, sense of foresight and dedicated service, acknowledging his critical contribution to driving growth, modernisation and internationalisation at “la Caixa” and subsequently CaixaBank.

    The CaixaBank Chairman and CEO both praised his extraordinary contributions, stating their conviction that Fainé, as Chairman of the Banking Foundation and CriteriaCaixa, will continue his outstanding work to support Welfare Projects and affiliated initiatives.

    ]]>
    0
    <![CDATA[CaixaBank wins the Celent Model Bank of the Year award for the world’s best digital transformation strategy]]> https://blog.caixabank.es/?p=23645 2017-04-04T13:00:00.0Z 2017-04-04T13:00:00.0Z <![CDATA[CaixaBank wins the Celent Model Bank of the Year award for the world’s best digital transformation strategy]]> CaixaBank has won the Model Bank 2017 award from US consultancy firm Celent, an annual accolade that honours the world’s most innovative bank. Celent, a subsidiary of the international firm Oliver Wyman, specialises in research in the use of information technology in the global financial industry.

    The award recognises R&D projects that have a significant bearing on an organization’s business, seeking those that demonstrate the highest degree of innovation, technological achievement, and excellence in implementation. The panel of judges specifically picked out CaixaBank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, for “demonstrating a true digital transformation process” in three major categories: improving the customer experience, products, and innovation projects.

    User experience, innovative products, and emerging technology

    Celent first emphasised CaixaBank’s achievements in terms of customer experience, particularly applauding its new website, which serves more than 5 million customers. It likewise pointed to other initiatives such as the exclusive “My Finances” service, which harnesses big data to provide customers with income and spending information, giving them a detailed understanding of their financial positions; and the new mobile-only banking model harnessed by imaginBank, which is aimed at the millennial generation and provides banking services exclusively via a mobile app and social networks.

    Celent also commended some of CaixaBank’s outstanding products, such as its innovative services in payment methods, account management and digital correspondence, via applications and services such as CaixaBank Pay, MailBox and Mi Hucha.

    Finally, Celent distinguished CaixaBank’s engagement with emerging technologies, including deployment of the imaginBank chatbot, the first such chatbot in the Spanish banking industry; and the annual app programming marathon, imaginChallenge, aimed at driving shared innovation and co-creation.

    CaixaBank collected the award at the Innovation and Insight (I & I) Day, Celent’s foremost annual event held in Boston. In excess of 150 projects were submitted to the 2017 Celent awards from more than 100 banks in 30 countries around the world.

    CaixaBank’s leadership in innovation

    CaixaBank is considered a leading innovator in financial services worldwide, serving 5.3 million online customers and 3.7 million active mobile banking customers.

    The bank leads the electronic banking market, with more than 15.2 million cards in circulation and a market share in terms of turnover of 22.9%. It was one of the first banks anywhere in the world to commercially launch contactless payment systems and mobile payment platforms, winning it numerous international awards.

    In 2016 the bank was distinguished as “Global Innovator 2016” by Efma and Accenture, for the world’s best innovation strategy during the year from any bank, as well as the “World’s Best Technology Project” from The Banker for the launch of the mobile-only bank imaginBank. CaixaBank was also rated as the best provider of mobile banking services in Europe, and the second best worldwide, according to analysts at Forrester Research. CaixaBank is well-established as a global leader in innovation and new technologies.

    CaixaBank is not only the leading operator in emerging channels in quantitative terms, but also in qualitative terms, topping the AQMetrix European rankings for service quality provided to customers.

    ]]>
    CaixaBank has won the Model Bank 2017 award from US consultancy firm Celent, an annual accolade that honours the world’s most innovative bank. Celent, a subsidiary of the international firm Oliver Wyman, specialises in research in the use of information technology in the global financial industry.

    The award recognises R&D projects that have a significant bearing on an organization’s business, seeking those that demonstrate the highest degree of innovation, technological achievement, and excellence in implementation. The panel of judges specifically picked out CaixaBank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, for “demonstrating a true digital transformation process” in three major categories: improving the customer experience, products, and innovation projects.

    User experience, innovative products, and emerging technology

    Celent first emphasised CaixaBank’s achievements in terms of customer experience, particularly applauding its new website, which serves more than 5 million customers. It likewise pointed to other initiatives such as the exclusive “My Finances” service, which harnesses big data to provide customers with income and spending information, giving them a detailed understanding of their financial positions; and the new mobile-only banking model harnessed by imaginBank, which is aimed at the millennial generation and provides banking services exclusively via a mobile app and social networks.

    Celent also commended some of CaixaBank’s outstanding products, such as its innovative services in payment methods, account management and digital correspondence, via applications and services such as CaixaBank Pay, MailBox and Mi Hucha.

    Finally, Celent distinguished CaixaBank’s engagement with emerging technologies, including deployment of the imaginBank chatbot, the first such chatbot in the Spanish banking industry; and the annual app programming marathon, imaginChallenge, aimed at driving shared innovation and co-creation.

    CaixaBank collected the award at the Innovation and Insight (I & I) Day, Celent’s foremost annual event held in Boston. In excess of 150 projects were submitted to the 2017 Celent awards from more than 100 banks in 30 countries around the world.

    CaixaBank’s leadership in innovation

    CaixaBank is considered a leading innovator in financial services worldwide, serving 5.3 million online customers and 3.7 million active mobile banking customers.

    The bank leads the electronic banking market, with more than 15.2 million cards in circulation and a market share in terms of turnover of 22.9%. It was one of the first banks anywhere in the world to commercially launch contactless payment systems and mobile payment platforms, winning it numerous international awards.

    In 2016 the bank was distinguished as “Global Innovator 2016” by Efma and Accenture, for the world’s best innovation strategy during the year from any bank, as well as the “World’s Best Technology Project” from The Banker for the launch of the mobile-only bank imaginBank. CaixaBank was also rated as the best provider of mobile banking services in Europe, and the second best worldwide, according to analysts at Forrester Research. CaixaBank is well-established as a global leader in innovation and new technologies.

    CaixaBank is not only the leading operator in emerging channels in quantitative terms, but also in qualitative terms, topping the AQMetrix European rankings for service quality provided to customers.

    ]]>
    0
    <![CDATA[CaixaBank, Global Payments, Samsung, Visa and Arval set up an innovation hub to create the payment methods of tomorrow]]> https://blog.caixabank.es/?p=23645 2017-03-30T12:00:00.0Z 2017-03-30T12:00:00.0Z <![CDATA[CaixaBank, Global Payments, Samsung, Visa and Arval set up an innovation hub to create the payment methods of tomorrow]]> CaixaBank, Global Payments Inc., Visa, Samsung and Arval have joined forces to set up the Payment Innovation Hub, Spain's first innovation hub for commerce and payment methods. The hub is among the first where multiple industry leaders from around the world will research and develop innovative payment solutions together.

    The project was announced today in Barcelona at an event attended by Juan Alcaraz, Chairman of CaixaBank Payments and Managing Director of CaixaBank; Frank Young, Senior Vice President, Global Product and Innovation of Global Payments; Victor Kim, EMEA Director of Samsung Pay; Bertrand Sava, Regional Managing Director Southern Europe of Visa Europe; and Christophe Conegero, New Business General Manager of Arval.

    The objective behind the Payment Innovation Hub is to present society with the best possible user experiences in purchases and commerce, both online and offline. The centre, which will be located in Barcelona, will specialise in research into new commerce solutions to cater to emergent consumer habits.

    By setting up the hub, these partners will work together on projects to generate synergies and promote co-creation and learning, building on their experience at the forefront of innovation in their respective industries. The hub will also be open to collaboration with third party research companies (start-ups, SMEs and major corporations) and institutions, in order to jointly shape the payment technology solutions of tomorrow.

    Investments of 5 million euros have been earmarked over the next 3 years to get the hub up and running.

     

    A multipurpose space for a multidisciplinary team

    A dedicated and multidisciplinary R&D team will operate at the Payment Innovation Hub, combining purely tech professionals with specialists in market analysis, business development and marketing. Any other partners deemed necessary may also be brought in for specific projects, whether these be individuals or start-ups.

    Three areas of research have been identified:

    ·         Automobiles: Research into solutions for connected cars.

    ·         Home: Innovation for domestic applications, particularly regarding the Internet of Things (IoT).

    ·         Commerce: Projects aimed at driving the shopping experience, both online at brick-and-mortar stories.

     

    A space designed for innovation

    The hub will have its own custom designed offices, conceived as a space conducive to brainstorming, creativity and shared innovation, with all the infrastructure and resources that these require.

    The office will be comprised of meeting rooms and workspaces. The innovation lab will be the hub’s nerve centre, where projects will be put through their paces in conditions that simulate real life situations. The facility will be equipped with all the tools required to measure technological behaviour, usability, and customer response.

    The Payment Innovation Hub will also feature a space for outreach and training, which will include conference rooms and host regular masterclasses, as well as an area dedicated to showcasing and testing the latest technological developments.

     

    Industry leaders come together to work as a team

    The aim is to build and establish a world-leading hub of innovation in payment technology solutions. Indeed, the partner companies behind the initiative are among the most innovative anywhere in the world in their areas of specialisation.

    The aim is to build and establish a world-leading hub of innovation in payment technology solutions. Indeed, the partner companies behind the initiative are among the most innovative anywhere in the world in their areas of specialisation.

    CaixaBank is the Spanish market leader in payment methods, with 15.3 million cards in circulation, a market share by turnover of 23.1%, and more than 335,000 POS terminals deployed, of which 90% are contactless. In 2016 CaixaBank cards recorded turnover at merchants of 33.457 billion euros (up 14.3% against 2015), and 5.196 billion euros in online purchases.

    Payment Innovation Hub

    Furthermore, via its subsidiary Comercia Global Payments, CaixaBank has a market share of close to 27% in POS terminals. 

    In 2016 the number of transactions at merchants using the bank’s POS terminals grew 17%, standing at 1.119 billion operations, with turnover of 40.881 billion euros, up 14% against 2015.

    CaixaBank has garnered international accolades in recent years for being the first bank in the world to implement certain key innovation initiatives in payment methods. Its engagement with innovation dates back to the late 70s and early 80s when the first ATMs and cards were deployed in Spain.

    Such projects include the bank’s partnership with Visa in one of Europe’s first commercial rollouts of contactless systems. CaixaBank now has more than 9.5 million contactless cards in circulation, which posted turnover of 7.123 billion in 2016. The system’s success has paved the way for other pioneering projects, such as the Visa contactless wristband, a wearable device that allows users to carry their debit or credit cards at their wrist. The bank was also one of the first in Europe to launch mobile payments and among the first anywhere in the world to strike a deal with Samsung to support the Samsung Pay mobile payment service.

    Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology services that delivers innovative solutions driven by customer needs globally. Headquartered in Atlanta, Georgia with more than 8,500 employees worldwide, Global Payments is a member of the S&P 500 with nearly 2.5 million merchant locations, close to 11 billion transactions processed and $550B in volume settled. The company is present in 30 countries throughout North America, Europe, the Asia-pacific region and Brazil.

    With nearly 50 years of expertise, Global Payments’ broad range of payment solutions support a variety of in-person, online, and mobile business needs. Global Payments has been a leader in developing mobile contactless solutions like SamsungPay and in piloting the innovative solutions that turn a Samsung smartphone into a payment acceptance device in partnership with Visa. Global Payments is focused on providing next generation commerce solutions, and our market leading software assets provide payment services to a wide variety of industries including restaurants education, gaming and ecommerce verticals, as we align with CaixaBank to serve the needs of customers in Spain and across Europe.

     

    The Samsung Pay mobile payment system is well known for its ease of use, security and availability, and is supported at any establishment that accepts contactless payment. To complete a transaction with Samsung Pay, users simply need to slide up on their compatible smartphone and scan their fingerprint to pay.

    For some months Samsung Pay has also supported loyalty cards, giving users easy and direct access to partner programs (stores, service stations, car parks, and so on), where they will find exclusive offers, discounts or could win prizes, all via any compatible Samsung Galaxy smartphone. Samsung Pay is built on a vast ecosystem of international partnerships and supports credit and debit cards from more than 500 major international and regional banks.

    Visa operates the world’s largest retail payments network and has helped to transform commerce for nearly 60 years, providing merchants and consumers with a convenient and secure way to pay and be paid. Today, as the payments industry shifts from plastic to digital and new entrants join traditional stakeholders in payments, Visa’s mission is to ensure that every Internet-connected device, appliance or wearable can become a secure place for commerce, regardless of where they are and what device they are using. 

    In Europe, Visa is helping to advance this mission through a number of its own recent initiatives. In February 2017, the Visa Innovation Center London opened, based in Paddington Basin and the largest of Visa’s global network of innovation centres. It offers Visa and its clients and partners a dedicated area to engage, experience and collaborate using the Visa Developer Platform, which provides self-serve access to some of Visa’s most popular payment capabilities. The Payment Innovation Hub will offer yet another opportunity for Visa to collaborate with industry leaders on concepts and solutions that are at the forefront of today’s payment innovation.

    Visa also announced the extension of mobile payments into more than 12 European countries by end of 2017 through the Visa Token Service. Pioneered by Visa in 2015, the Visa Token Service is the technology that underpins popular mobile payment services including Apple Pay and Android Pay, providing consumers a secure way to load and access their payment account on a mobile device. The technology sits at the heart of Visa’s IoT (Internet of Things) vision, enabling secure and convenient commerce on any connected device, such as phones, tablets, wearable devices, even automobiles and appliances.

    As one of the world’s foremost operators in mobility solutions, and part of the BNP Paribas Group, Arval has always been committed to sustainable mobility and forward-looking use of digital environments, harnessing innovative technology.

    The spirit of innovation and enterprise is built into Arval’s DNA. As such, in 2013 Arval began developing a proprietary and comprehensive telematic solution, called Arval Active Link, which was subsequently launched in 2015, putting trailblazing technology at the service of clients and prospective clients, and delivering concrete solutions to social and environmental trends.

    This first foray into connectivity and innovation is paving the way to the mobility solutions of tomorrow. A wide range of initiatives are in progress, seeking to refresh and update existing tools, while also building new promising solutions and services for clients and prospective clients. This work is already ongoing, but exploring new horizons is always best performed in partnership with leading businesses in their respective markets, allowing us to share perspectives and learn from each other, while gaining insights into and shaping the mobility of tomorrow.

    The robust relationship between CaixaBank and Arval is a powerful example of this, after the two joined forces in 2011 to offer a vehicle rentals solution that proved a great success.

    Arval’s strategy and investments are consistent with the emphasis placed on digital transformation as envisaged in the BNP Paribas business development plan.

    The combination of these two aspects makes Arval a natural partner for this new innovation centre, providing the opportunity to work with 4 major players and to drive discovery, experience and learning.

    Arval specialises in mobility solutions and is a fully owned subsidiary of BNP Paribas. Arval provides comprehensive solutions to major corporations, SMEs and professionals, helping them to optimise workforce mobility and outsource the risks associated with fleet management, while benefitting from expert advice and outstanding service quality. The company has a workforce in excess of 6,400 and operates in 28 countries, with a total leased fleet of 1,028,142 vehicles in Europe, establishing itself as the European market leader (December 2016).

    Arval is a founding member of the Element-Arval Global Alliance, the largest strategic partnership in the fleet management industry, and the world leader with 3 million vehicles in 50 countries. Within BNP Paribas, Arval belongs to the retail banking core activity.

    Arval has been operational in Spain since 1996, where it employs more than 500 people. In excess of 89,000 vehicles are currently leased in Spain, making it the leading operator in the country. The company has been awarded ISO 14001 and 39001 certifications in Spain.

    ]]>
    CaixaBank, Global Payments Inc., Visa, Samsung and Arval have joined forces to set up the Payment Innovation Hub, Spain's first innovation hub for commerce and payment methods. The hub is among the first where multiple industry leaders from around the world will research and develop innovative payment solutions together.

    The project was announced today in Barcelona at an event attended by Juan Alcaraz, Chairman of CaixaBank Payments and Managing Director of CaixaBank; Frank Young, Senior Vice President, Global Product and Innovation of Global Payments; Victor Kim, EMEA Director of Samsung Pay; Bertrand Sava, Regional Managing Director Southern Europe of Visa Europe; and Christophe Conegero, New Business General Manager of Arval.

    The objective behind the Payment Innovation Hub is to present society with the best possible user experiences in purchases and commerce, both online and offline. The centre, which will be located in Barcelona, will specialise in research into new commerce solutions to cater to emergent consumer habits.

    By setting up the hub, these partners will work together on projects to generate synergies and promote co-creation and learning, building on their experience at the forefront of innovation in their respective industries. The hub will also be open to collaboration with third party research companies (start-ups, SMEs and major corporations) and institutions, in order to jointly shape the payment technology solutions of tomorrow.

    Investments of 5 million euros have been earmarked over the next 3 years to get the hub up and running.

     

    A multipurpose space for a multidisciplinary team

    A dedicated and multidisciplinary R&D team will operate at the Payment Innovation Hub, combining purely tech professionals with specialists in market analysis, business development and marketing. Any other partners deemed necessary may also be brought in for specific projects, whether these be individuals or start-ups.

    Three areas of research have been identified:

    ·         Automobiles: Research into solutions for connected cars.

    ·         Home: Innovation for domestic applications, particularly regarding the Internet of Things (IoT).

    ·         Commerce: Projects aimed at driving the shopping experience, both online at brick-and-mortar stories.

     

    A space designed for innovation

    The hub will have its own custom designed offices, conceived as a space conducive to brainstorming, creativity and shared innovation, with all the infrastructure and resources that these require.

    The office will be comprised of meeting rooms and workspaces. The innovation lab will be the hub’s nerve centre, where projects will be put through their paces in conditions that simulate real life situations. The facility will be equipped with all the tools required to measure technological behaviour, usability, and customer response.

    The Payment Innovation Hub will also feature a space for outreach and training, which will include conference rooms and host regular masterclasses, as well as an area dedicated to showcasing and testing the latest technological developments.

     

    Industry leaders come together to work as a team

    The aim is to build and establish a world-leading hub of innovation in payment technology solutions. Indeed, the partner companies behind the initiative are among the most innovative anywhere in the world in their areas of specialisation.

    The aim is to build and establish a world-leading hub of innovation in payment technology solutions. Indeed, the partner companies behind the initiative are among the most innovative anywhere in the world in their areas of specialisation.

    CaixaBank is the Spanish market leader in payment methods, with 15.3 million cards in circulation, a market share by turnover of 23.1%, and more than 335,000 POS terminals deployed, of which 90% are contactless. In 2016 CaixaBank cards recorded turnover at merchants of 33.457 billion euros (up 14.3% against 2015), and 5.196 billion euros in online purchases.

    Payment Innovation Hub

    Furthermore, via its subsidiary Comercia Global Payments, CaixaBank has a market share of close to 27% in POS terminals. 

    In 2016 the number of transactions at merchants using the bank’s POS terminals grew 17%, standing at 1.119 billion operations, with turnover of 40.881 billion euros, up 14% against 2015.

    CaixaBank has garnered international accolades in recent years for being the first bank in the world to implement certain key innovation initiatives in payment methods. Its engagement with innovation dates back to the late 70s and early 80s when the first ATMs and cards were deployed in Spain.

    Such projects include the bank’s partnership with Visa in one of Europe’s first commercial rollouts of contactless systems. CaixaBank now has more than 9.5 million contactless cards in circulation, which posted turnover of 7.123 billion in 2016. The system’s success has paved the way for other pioneering projects, such as the Visa contactless wristband, a wearable device that allows users to carry their debit or credit cards at their wrist. The bank was also one of the first in Europe to launch mobile payments and among the first anywhere in the world to strike a deal with Samsung to support the Samsung Pay mobile payment service.

    Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology services that delivers innovative solutions driven by customer needs globally. Headquartered in Atlanta, Georgia with more than 8,500 employees worldwide, Global Payments is a member of the S&P 500 with nearly 2.5 million merchant locations, close to 11 billion transactions processed and $550B in volume settled. The company is present in 30 countries throughout North America, Europe, the Asia-pacific region and Brazil.

    With nearly 50 years of expertise, Global Payments’ broad range of payment solutions support a variety of in-person, online, and mobile business needs. Global Payments has been a leader in developing mobile contactless solutions like SamsungPay and in piloting the innovative solutions that turn a Samsung smartphone into a payment acceptance device in partnership with Visa. Global Payments is focused on providing next generation commerce solutions, and our market leading software assets provide payment services to a wide variety of industries including restaurants education, gaming and ecommerce verticals, as we align with CaixaBank to serve the needs of customers in Spain and across Europe.

     

    The Samsung Pay mobile payment system is well known for its ease of use, security and availability, and is supported at any establishment that accepts contactless payment. To complete a transaction with Samsung Pay, users simply need to slide up on their compatible smartphone and scan their fingerprint to pay.

    For some months Samsung Pay has also supported loyalty cards, giving users easy and direct access to partner programs (stores, service stations, car parks, and so on), where they will find exclusive offers, discounts or could win prizes, all via any compatible Samsung Galaxy smartphone. Samsung Pay is built on a vast ecosystem of international partnerships and supports credit and debit cards from more than 500 major international and regional banks.

    Visa operates the world’s largest retail payments network and has helped to transform commerce for nearly 60 years, providing merchants and consumers with a convenient and secure way to pay and be paid. Today, as the payments industry shifts from plastic to digital and new entrants join traditional stakeholders in payments, Visa’s mission is to ensure that every Internet-connected device, appliance or wearable can become a secure place for commerce, regardless of where they are and what device they are using. 

    In Europe, Visa is helping to advance this mission through a number of its own recent initiatives. In February 2017, the Visa Innovation Center London opened, based in Paddington Basin and the largest of Visa’s global network of innovation centres. It offers Visa and its clients and partners a dedicated area to engage, experience and collaborate using the Visa Developer Platform, which provides self-serve access to some of Visa’s most popular payment capabilities. The Payment Innovation Hub will offer yet another opportunity for Visa to collaborate with industry leaders on concepts and solutions that are at the forefront of today’s payment innovation.

    Visa also announced the extension of mobile payments into more than 12 European countries by end of 2017 through the Visa Token Service. Pioneered by Visa in 2015, the Visa Token Service is the technology that underpins popular mobile payment services including Apple Pay and Android Pay, providing consumers a secure way to load and access their payment account on a mobile device. The technology sits at the heart of Visa’s IoT (Internet of Things) vision, enabling secure and convenient commerce on any connected device, such as phones, tablets, wearable devices, even automobiles and appliances.

    As one of the world’s foremost operators in mobility solutions, and part of the BNP Paribas Group, Arval has always been committed to sustainable mobility and forward-looking use of digital environments, harnessing innovative technology.

    The spirit of innovation and enterprise is built into Arval’s DNA. As such, in 2013 Arval began developing a proprietary and comprehensive telematic solution, called Arval Active Link, which was subsequently launched in 2015, putting trailblazing technology at the service of clients and prospective clients, and delivering concrete solutions to social and environmental trends.

    This first foray into connectivity and innovation is paving the way to the mobility solutions of tomorrow. A wide range of initiatives are in progress, seeking to refresh and update existing tools, while also building new promising solutions and services for clients and prospective clients. This work is already ongoing, but exploring new horizons is always best performed in partnership with leading businesses in their respective markets, allowing us to share perspectives and learn from each other, while gaining insights into and shaping the mobility of tomorrow.

    The robust relationship between CaixaBank and Arval is a powerful example of this, after the two joined forces in 2011 to offer a vehicle rentals solution that proved a great success.

    Arval’s strategy and investments are consistent with the emphasis placed on digital transformation as envisaged in the BNP Paribas business development plan.

    The combination of these two aspects makes Arval a natural partner for this new innovation centre, providing the opportunity to work with 4 major players and to drive discovery, experience and learning.

    Arval specialises in mobility solutions and is a fully owned subsidiary of BNP Paribas. Arval provides comprehensive solutions to major corporations, SMEs and professionals, helping them to optimise workforce mobility and outsource the risks associated with fleet management, while benefitting from expert advice and outstanding service quality. The company has a workforce in excess of 6,400 and operates in 28 countries, with a total leased fleet of 1,028,142 vehicles in Europe, establishing itself as the European market leader (December 2016).

    Arval is a founding member of the Element-Arval Global Alliance, the largest strategic partnership in the fleet management industry, and the world leader with 3 million vehicles in 50 countries. Within BNP Paribas, Arval belongs to the retail banking core activity.

    Arval has been operational in Spain since 1996, where it employs more than 500 people. In excess of 89,000 vehicles are currently leased in Spain, making it the leading operator in the country. The company has been awarded ISO 14001 and 39001 certifications in Spain.

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