<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[Cuando las start-ups transforman tu negocio. El caso de éxito de Sorigué]]> https://blog.caixabank.es/?p=23645 2018-02-20T07:00:44.0Z 2018-02-20T07:00:44.0Z <![CDATA[Cuando las start-ups transforman tu negocio. El caso de éxito de Sorigué]]> 0 <![CDATA[CaixaBank launches its series of international “Diversity Talks” in Turkey]]> https://blog.caixabank.es/?p=23645 2018-02-14T17:30:00.0Z 2018-02-14T17:30:00.0Z <![CDATA[CaixaBank launches its series of international “Diversity Talks” in Turkey]]> CaixaBank, the leading retail banking operator in Spain, has hosted the first of its international “Diversity Talks” debates in Turkey. The programme is designed to foster discussion regarding diversity and business management. The event has focused specifically on the position of women in the Turkish financial industry.

Top executives from Turkey’s leading banks have taken part in the discussion, including Isbank, Ziraat Bank, Garanti Bank, Akbank, Yapi Kredi, Denizbank, QNB Finansbank, Turk Ekonomi Bankasi, ING Bank Turkey, Kuveytturk Katilim Bankasi, Turkiye Finans Katilim Bankasi and Citibank Turkey. Representing CaixaBank has been Maria Victoria Matia, EVP international banking, and Marta García Ojea, head of the bank’s representative office in Turkey.

Diversity as a key aspect of international banking

CaixaBank has pioneered diversity in Europe, establishing a specialist team to coordinate cross-organisation projects that encompass multiple aspects: cultural diversity, gender diversity, functional diversity and generational diversity.

In international banking, diversity is not only an excellent approach to human resources management, but also a key aspect of the business model. CaixaBank’s international network specialises in providing consultancy to Spanish companies undertaking projects overseas, which means that specialist insight into international banking is just as important as understanding cultural diversity.

CaixaBank currently has an international network comprised of 26 operating branches and representative offices in 18 countries. The bank has established multicultural teams of diverse origin, which implement specific projects to provide close support to clients, focusing on the specific requirements of each region. Gender diversity is particularly important: 42% of managerial positions in CaixaBank’s international network are held by women.

About CaixaBank

CaixaBank is leader in retail banking in Spain, with a 26.7% share among individual customers who make it their main bank. The bank, headed by chairman Jordi Gual, and led by CEO, Gonzalo Gortázar, has around 16 million customers in Spain and Portugal, with 5,379 branches, the largest commercial network in the Iberian peninsula.

It also leads the way in online banking and mobile banking, with 55% digital clients and 4.3 million customers, respectively. It also fully owns VidaCaixa and CaixaBank AM, leading insurance and management companies in Spain, respectively, allowing the bank to maintain a position of leadership in insurance products, plans and funds, with a market share of 21.3%.

Additionally, CaixaBank holds an 84.5% stake in BPI, the fifth largest bank in Portugal by assets, with a penetration among individual customers of 13.7%.

The entity stands out among its peers for its involvement in and unwavering commitment to society. CaixaBank’s approach to operating in the banking business is based on corporate values of quality, trust and social commitment. For this reason it is considered to be one of the world's most sustainable banks by the Dow Jones Sustainability Index and is included in the CDP 2017 A List, which recognises the leading companies in the fight against climate change.

CaixaBank has been named “Best Bank in Spain 2017” by the UK magazine Euromoney for the fourth consecutive year. This year, Euromoney named CaixaBank, the "Best Private Bank in Spain" for the fourth time in a row and New York magazine Global Finance also recognised the entity as the "Best Bank in Spain 2017", “Best Digital Bank in Western Europe for 2017” and “Best Bank in Social Media in the World for 2017”.

 

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CaixaBank, the leading retail banking operator in Spain, has hosted the first of its international “Diversity Talks” debates in Turkey. The programme is designed to foster discussion regarding diversity and business management. The event has focused specifically on the position of women in the Turkish financial industry.

Top executives from Turkey’s leading banks have taken part in the discussion, including Isbank, Ziraat Bank, Garanti Bank, Akbank, Yapi Kredi, Denizbank, QNB Finansbank, Turk Ekonomi Bankasi, ING Bank Turkey, Kuveytturk Katilim Bankasi, Turkiye Finans Katilim Bankasi and Citibank Turkey. Representing CaixaBank has been Maria Victoria Matia, EVP international banking, and Marta García Ojea, head of the bank’s representative office in Turkey.

Diversity as a key aspect of international banking

CaixaBank has pioneered diversity in Europe, establishing a specialist team to coordinate cross-organisation projects that encompass multiple aspects: cultural diversity, gender diversity, functional diversity and generational diversity.

In international banking, diversity is not only an excellent approach to human resources management, but also a key aspect of the business model. CaixaBank’s international network specialises in providing consultancy to Spanish companies undertaking projects overseas, which means that specialist insight into international banking is just as important as understanding cultural diversity.

CaixaBank currently has an international network comprised of 26 operating branches and representative offices in 18 countries. The bank has established multicultural teams of diverse origin, which implement specific projects to provide close support to clients, focusing on the specific requirements of each region. Gender diversity is particularly important: 42% of managerial positions in CaixaBank’s international network are held by women.

About CaixaBank

CaixaBank is leader in retail banking in Spain, with a 26.7% share among individual customers who make it their main bank. The bank, headed by chairman Jordi Gual, and led by CEO, Gonzalo Gortázar, has around 16 million customers in Spain and Portugal, with 5,379 branches, the largest commercial network in the Iberian peninsula.

It also leads the way in online banking and mobile banking, with 55% digital clients and 4.3 million customers, respectively. It also fully owns VidaCaixa and CaixaBank AM, leading insurance and management companies in Spain, respectively, allowing the bank to maintain a position of leadership in insurance products, plans and funds, with a market share of 21.3%.

Additionally, CaixaBank holds an 84.5% stake in BPI, the fifth largest bank in Portugal by assets, with a penetration among individual customers of 13.7%.

The entity stands out among its peers for its involvement in and unwavering commitment to society. CaixaBank’s approach to operating in the banking business is based on corporate values of quality, trust and social commitment. For this reason it is considered to be one of the world's most sustainable banks by the Dow Jones Sustainability Index and is included in the CDP 2017 A List, which recognises the leading companies in the fight against climate change.

CaixaBank has been named “Best Bank in Spain 2017” by the UK magazine Euromoney for the fourth consecutive year. This year, Euromoney named CaixaBank, the "Best Private Bank in Spain" for the fourth time in a row and New York magazine Global Finance also recognised the entity as the "Best Bank in Spain 2017", “Best Digital Bank in Western Europe for 2017” and “Best Bank in Social Media in the World for 2017”.

 

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<![CDATA[Hong Kong and Taiwan: a window on the mainland Chinese market]]> https://blog.caixabank.es/?p=23645 2018-02-09T00:00:00.0Z 2018-02-09T00:00:00.0Z <![CDATA[Hong Kong and Taiwan: a window on the mainland Chinese market]]> I've been living in Hong Kong for a year, running the CaixaBank representation office in the region. Among other things, the job involves frequent trips to the nearby island of Taiwan. During this short period of time, I have had the chance to get to know at first hand a modern, cosmopolitan region which at the same time manages to preserve ancient traditions. It is a perfect fusion of East and West, which gives it a unique, unsurpassable character. It is also one of the safest, most orderly cities in the world.

Good geographical location and efficient transport networks

Hong Kong has a total of 7.2 million inhabitants, crammed into just 1,100 km2, making it the most densely-populated city in east Asia. Strategically located at the mouth of the Pearl River, the area with the highest concentration of exporting companies in mainland China and also close to the south-east Asian countries of ASEAN (the Association of Southeast Asian Nations). Moreover, Hong Kong has the best, most efficient airport on the continent and the biggest free port. Taiwan, on the other hand, has an area of 35,980 km2 and is the third most densely-populated city in east Asia, with 23.5 million inhabitants. Its geographical location, about 160 kilometres off the east coast of the People's Republic of China and midway between Japan and Hong Kong, makes it one of the busiest places in the world in terms of maritime traffic. For example, the port of Kaohsiung is the twelfth most important in the world for container traffic.

Hong Kong is a window into the mainland Chinese market

Hong Kong's economic development is based on the capital market. The country has some of the largest currency reserves in the world, with 349,124 million dollars in March 2016, according to IMF figures. Economic activity is concentrated on the central island of Hong Kong, world famous as a financial hub with around 110 international players. The service sector accounts for nearly 93% of the GDP, with China as its main commercial partner, providing 49% of imports. The USA is the only non-Asian country with a place among the top five suppliers. With regard to re-exportation (products imported to Hong Kong, but forwarded to other countries for consumption), the number one destination is once again mainland China.

On the other hand, Hong Kong is number one for speed and simplicity in setting up a new company, according to the publication Doing Business, as well as having an attractive tax rate, no duties on most products, an environment allowing free circulation of capital and a strategic location close to mainland China and the ASEAN countries. In addition, signature of the free trade treaty between Hong Kong and ASEAN is expected in October 2017, giving it access to a new market with 629 million inhabitants.

In the case of Taiwan, the economy is essentially based on foreign trade. For this reason, exports and imports account for about 97% of its GDP. Taiwan is a highly industrialised region, with marked specialisation by areas: the electronic and technology industry is concentrated in the north, precision machinery in the centre and petrochemicals and heavy industry in the south.

Taiwan is the third-most important destination country for foreign investment

Taiwan has a trade surplus with the United States, China and the European Union and, in recent years, there has been an increasing trade surplus with the neighbouring ASEAN countries.

Asia as a whole, excluding the middle east, is the destination for 6% of Spanish exports. In 2016, Hong Kong was the fifth Asian market for Spanish products, behind China, Japan, South Korea and India, and ahead of Singapore, Taiwan, Indonesia and the Philippines. The balance of trade is markedly favourable to Spain, with Spanish exports of 951 million euros according to 2016 figures. The most important sectors are consumer goods (39.39%), and manufactured and capital goods (36.69%); also important are agro-food (22.18%) and drinks (1.74%).

The balance of trade between Spain and Hong Kong is highly favourable to Spain

However, there are also major investments in Spain by Hong Kong and its area of influence. As well as purchases of homes and investments in football teams, there are significant interests in the agro-food sector. In relation to this, the Chinese government has launched the “One Belt, One Road” initiative, a modern recreation of the ancient Silk Road, with the aim of reinforcing trade between China and Europe through improvements in infrastructure and logistics. One of the most recent investments under this initiative is the purchase of Noatum Holding Ports, the leading port operator in Spain, by the Hong Kong concern Cosco Shipping Ports Ltd.

Trading relations between Taiwan and Spain have historically been characterised by a marked imbalance in favour of the former. Spanish exports to Taiwan represent a total of 485 million euros, compared to a volume of imports from Taiwan of 1,031 million euros, according to the latest Icex figures. This is a figure Spanish businesses should take into account as Taiwan is an increasingly worthwhile place for the rest of the world to invest. In fact, according to the Doing Business Report, Taiwan today is the third-most important destination country for foreign investment. Recently, five major concerns, among them the pharmaceutical company S-Cubed and General Electric, have been planning investments on the island worth 336 million dollars.

In my opinion, both Hong Kong and Taiwan offer excellent opportunities for doing business with the south-east Asian region, a market that is gaining increasing international weight due to increasing domestic demand and purchasing power. Naturally, it is always advisable for companies to come and get to know the place for themselves to make their own assessment of the potential and opportunities it might offer them, something the CaixaBank branch in Hong Kong can help with.

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I've been living in Hong Kong for a year, running the CaixaBank representation office in the region. Among other things, the job involves frequent trips to the nearby island of Taiwan. During this short period of time, I have had the chance to get to know at first hand a modern, cosmopolitan region which at the same time manages to preserve ancient traditions. It is a perfect fusion of East and West, which gives it a unique, unsurpassable character. It is also one of the safest, most orderly cities in the world.

Good geographical location and efficient transport networks

Hong Kong has a total of 7.2 million inhabitants, crammed into just 1,100 km2, making it the most densely-populated city in east Asia. Strategically located at the mouth of the Pearl River, the area with the highest concentration of exporting companies in mainland China and also close to the south-east Asian countries of ASEAN (the Association of Southeast Asian Nations). Moreover, Hong Kong has the best, most efficient airport on the continent and the biggest free port. Taiwan, on the other hand, has an area of 35,980 km2 and is the third most densely-populated city in east Asia, with 23.5 million inhabitants. Its geographical location, about 160 kilometres off the east coast of the People's Republic of China and midway between Japan and Hong Kong, makes it one of the busiest places in the world in terms of maritime traffic. For example, the port of Kaohsiung is the twelfth most important in the world for container traffic.

Hong Kong is a window into the mainland Chinese market

Hong Kong's economic development is based on the capital market. The country has some of the largest currency reserves in the world, with 349,124 million dollars in March 2016, according to IMF figures. Economic activity is concentrated on the central island of Hong Kong, world famous as a financial hub with around 110 international players. The service sector accounts for nearly 93% of the GDP, with China as its main commercial partner, providing 49% of imports. The USA is the only non-Asian country with a place among the top five suppliers. With regard to re-exportation (products imported to Hong Kong, but forwarded to other countries for consumption), the number one destination is once again mainland China.

On the other hand, Hong Kong is number one for speed and simplicity in setting up a new company, according to the publication Doing Business, as well as having an attractive tax rate, no duties on most products, an environment allowing free circulation of capital and a strategic location close to mainland China and the ASEAN countries. In addition, signature of the free trade treaty between Hong Kong and ASEAN is expected in October 2017, giving it access to a new market with 629 million inhabitants.

In the case of Taiwan, the economy is essentially based on foreign trade. For this reason, exports and imports account for about 97% of its GDP. Taiwan is a highly industrialised region, with marked specialisation by areas: the electronic and technology industry is concentrated in the north, precision machinery in the centre and petrochemicals and heavy industry in the south.

Taiwan is the third-most important destination country for foreign investment

Taiwan has a trade surplus with the United States, China and the European Union and, in recent years, there has been an increasing trade surplus with the neighbouring ASEAN countries.

Asia as a whole, excluding the middle east, is the destination for 6% of Spanish exports. In 2016, Hong Kong was the fifth Asian market for Spanish products, behind China, Japan, South Korea and India, and ahead of Singapore, Taiwan, Indonesia and the Philippines. The balance of trade is markedly favourable to Spain, with Spanish exports of 951 million euros according to 2016 figures. The most important sectors are consumer goods (39.39%), and manufactured and capital goods (36.69%); also important are agro-food (22.18%) and drinks (1.74%).

The balance of trade between Spain and Hong Kong is highly favourable to Spain

However, there are also major investments in Spain by Hong Kong and its area of influence. As well as purchases of homes and investments in football teams, there are significant interests in the agro-food sector. In relation to this, the Chinese government has launched the “One Belt, One Road” initiative, a modern recreation of the ancient Silk Road, with the aim of reinforcing trade between China and Europe through improvements in infrastructure and logistics. One of the most recent investments under this initiative is the purchase of Noatum Holding Ports, the leading port operator in Spain, by the Hong Kong concern Cosco Shipping Ports Ltd.

Trading relations between Taiwan and Spain have historically been characterised by a marked imbalance in favour of the former. Spanish exports to Taiwan represent a total of 485 million euros, compared to a volume of imports from Taiwan of 1,031 million euros, according to the latest Icex figures. This is a figure Spanish businesses should take into account as Taiwan is an increasingly worthwhile place for the rest of the world to invest. In fact, according to the Doing Business Report, Taiwan today is the third-most important destination country for foreign investment. Recently, five major concerns, among them the pharmaceutical company S-Cubed and General Electric, have been planning investments on the island worth 336 million dollars.

In my opinion, both Hong Kong and Taiwan offer excellent opportunities for doing business with the south-east Asian region, a market that is gaining increasing international weight due to increasing domestic demand and purchasing power. Naturally, it is always advisable for companies to come and get to know the place for themselves to make their own assessment of the potential and opportunities it might offer them, something the CaixaBank branch in Hong Kong can help with.

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<![CDATA[Euromoney names CaixaBank the best private banking operator in Spain for the fourth consecutive year]]> https://blog.caixabank.es/?p=23645 2018-02-06T12:00:00.0Z 2018-02-06T12:00:00.0Z <![CDATA[Euromoney names CaixaBank the best private banking operator in Spain for the fourth consecutive year]]> CaixaBank has been named as the best private banking operator in Spain in the Euromoney Private Banking Survey 2018. CaixaBank claimed the top spot for the fourth consecutive year, based on 2,395 surveys conducted by Euromoney among institutions, high net worth managers and family office managers around the world, who identified CaixaBank as one of the most prominent private banking operators thanks to the quality of its services and business model.

CaixaBank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, also topped the rankings in 9 other categories: net-worth-specific services, and the subcategory of services for high net worth clients; asset management; commercial banking capabilities; family office services; research and asset allocation advice; philanthropic advice; SRA/social impact investing; succession planning advice and trusts; and innovation technology-client experience.

Jordi Gual, Chairman of CaixaBank, stated that this recognition “reflects the service excellence that we seek to provide to our clients, as well as our meticulous and fully personalised approach to consulting, run by a highly qualified team of managers”.

Meanwhile, Gonzalo Gortázar, CaixaBank CEO, pointed out that “CaixaBank’s strategic commitment to financial consulting based on the highest standards of quality and regulatory compliance has seen us shore up our leading position in medium- and long-term savings, securing growth of 5.5% in private banking assets under management during 2017, rising to €63,203 million, and expanding client numbers by 6.3% to 58,491”.

CaixaBank Private Banking, a segment in consistent growth

CaixaBank Private Banking, the CaixaBank business specialising in estates worth more than half a million euros, combines the general service provided by the bank's more than 5,000 branches with specialised consulting from a 500-strong team of experts at 46 private banking offices across Spain, and likewise harnesses technology, via the wall and videocalls, to ensure that consulting is available from any location.

CaixaBank recently set up a new independent consulting service based on new MIFID II regulations, called CaixaBank Wealth. This specialist unit is comprised of 7 wealth management professionals with extensive experience and expertise in all areas of financial markets, who provide service to the Private Banking business.

Wealth managers will be entrusted with crafting and implementing investment strategies, under the framework of a consulting agreement that establishes the parameters for relations with the bank. Said managers will also be able to compile an aggregated overview of a client’s positions, including assets held at other banks, and conduct overall risk analyses and evaluate the distribution of assets.

Furthermore, CaixaBank Private Banking has the support of the Altium team, entrusted with managing estates worth in excess of 10 million euros. Together with Private Banking managers, this team provides a full range of truly sophisticated estate management services. The team is present in Barcelona, the Basque Country, Navarra, Andalusia and Madrid, thus providing coverage across Spain.

Winning the Euromoney prize for the fourth consecutive year is evidence of the bank’s prestigious standing in the private banking segment, while endorsing a management model founded on the bank’s core values: quality, trust, and social engagement.

About Euromoney

Euromoney is a London-based financial magazine that is highly influential in capital markets. Founded in 1969, it is a globally renown publication specialising in international banking and finance news. The publication has a readership of over 145,000, including leading global figures from the worlds of finance, business, and government.

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CaixaBank has been named as the best private banking operator in Spain in the Euromoney Private Banking Survey 2018. CaixaBank claimed the top spot for the fourth consecutive year, based on 2,395 surveys conducted by Euromoney among institutions, high net worth managers and family office managers around the world, who identified CaixaBank as one of the most prominent private banking operators thanks to the quality of its services and business model.

CaixaBank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, also topped the rankings in 9 other categories: net-worth-specific services, and the subcategory of services for high net worth clients; asset management; commercial banking capabilities; family office services; research and asset allocation advice; philanthropic advice; SRA/social impact investing; succession planning advice and trusts; and innovation technology-client experience.

Jordi Gual, Chairman of CaixaBank, stated that this recognition “reflects the service excellence that we seek to provide to our clients, as well as our meticulous and fully personalised approach to consulting, run by a highly qualified team of managers”.

Meanwhile, Gonzalo Gortázar, CaixaBank CEO, pointed out that “CaixaBank’s strategic commitment to financial consulting based on the highest standards of quality and regulatory compliance has seen us shore up our leading position in medium- and long-term savings, securing growth of 5.5% in private banking assets under management during 2017, rising to €63,203 million, and expanding client numbers by 6.3% to 58,491”.

CaixaBank Private Banking, a segment in consistent growth

CaixaBank Private Banking, the CaixaBank business specialising in estates worth more than half a million euros, combines the general service provided by the bank's more than 5,000 branches with specialised consulting from a 500-strong team of experts at 46 private banking offices across Spain, and likewise harnesses technology, via the wall and videocalls, to ensure that consulting is available from any location.

CaixaBank recently set up a new independent consulting service based on new MIFID II regulations, called CaixaBank Wealth. This specialist unit is comprised of 7 wealth management professionals with extensive experience and expertise in all areas of financial markets, who provide service to the Private Banking business.

Wealth managers will be entrusted with crafting and implementing investment strategies, under the framework of a consulting agreement that establishes the parameters for relations with the bank. Said managers will also be able to compile an aggregated overview of a client’s positions, including assets held at other banks, and conduct overall risk analyses and evaluate the distribution of assets.

Furthermore, CaixaBank Private Banking has the support of the Altium team, entrusted with managing estates worth in excess of 10 million euros. Together with Private Banking managers, this team provides a full range of truly sophisticated estate management services. The team is present in Barcelona, the Basque Country, Navarra, Andalusia and Madrid, thus providing coverage across Spain.

Winning the Euromoney prize for the fourth consecutive year is evidence of the bank’s prestigious standing in the private banking segment, while endorsing a management model founded on the bank’s core values: quality, trust, and social engagement.

About Euromoney

Euromoney is a London-based financial magazine that is highly influential in capital markets. Founded in 1969, it is a globally renown publication specialising in international banking and finance news. The publication has a readership of over 145,000, including leading global figures from the worlds of finance, business, and government.

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<![CDATA[CaixaBank posts a net attributable profit of €1,684 million (+60.9%), its best ever annual performance]]> https://blog.caixabank.es/?p=23645 2018-02-02T00:00:00.0Z 2018-02-02T00:00:00.0Z <![CDATA[CaixaBank posts a net attributable profit of €1,684 million (+60.9%), its best ever annual performance]]>
  • Net interest income was up 14.2% to €4,746 million; fee and commission income totalled €2,499 million (+19.5%); and income and expense arising from insurance and reinsurance contracts climbed 51.9% to €472 million. 
  • Gross revenues amounted to €8,222 million. The 5.1% increase year on year was down to increased generation of core revenues (up 18% on 2016 to €7,887 million) and the integration of BPI.  
  • Of this revenue, 96% originated from core banking activity, following the drop in activity in trading revenuess (-66.7%) and the reduced contribution from equity investments (-21%). 
  • Loans and advances to customers, gross, stood at €223,951 million (+9.3% in 2017). At CaixaBank, the performing portfolio was up 0.4% excluding the reduction of €1,043 million in financing to CriteriaCaixa and the change in lending to the public sector. 
  • In the last year, the non-performing loan (NPL) ratio has shed 84 basis points to reach 6%, illustrating the improvements seen in credit quality. In the same period, non-performing loans were down €1,668 million at CaixaBank. 
  • Total liquid assets stood at €72,775 million. The Group’s liquidity position strengthened in the course of the year, as shown by its Liquidity Coverage Ratio (LCR) of 202%, well clear of the minimum requirement of 100% from 1 January 2018 onward. 
  • The CaixaBank Group has a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.7%, within the 11-12% target band envisioned in the 2015-18 Strategic Plan, and almost 3 percentage points higher than the fully loaded supervisory requirement of 8.75%.
  • The CaixaBank Group, the number one retail bank in Spain with Jordi Gual as Chairman and Gonzalo Gortázar as CEO, reported net attributable profit of €1,684 million in 2017 (+60.9% year on year), making it CaixaBank's best ever annual performance. Profit at CaixaBank in Spain came to €1,508 million, up 44.1% on 2016.

    The annual improvement came in response to intensive commercial activity at CaixaBank and also the full consolidation of the results of BPI from February onward, which impacted the main headings of CaixaBank’s income statement by contributing a total of €176 million to the Group’s results.

    Gross income amounted to €8,222 million (+5.1%) as core income from the banking business increased (net interest income, fee and commission income and income from the insurance business), which gained 18% at the Group and 8% at CaixaBank, and also because of the incorporation of BPI. Of this income, 96% originates from core banking activity, following the drop in activity on financial transactions (-66.7%) and the reduced contribution from equity investments (-21%).

    Profitability at the CaixaBank Group has gained 280 basis points since December and was 8.4% at year-end (close to the 9%-11% target band envisaged in the Strategic Plan), while recurring ROTE from the banking and insurance business ended the year at 11.2%, showing a result of €1,748 million.

    CaixaBank has cemented its leading position in the Spanish retail market. It is now the main bank for 26.7% of customers (+100 basis points in the last 12 months) and ranks first in salary deposits (market share of 26.3%), investment funds (16.7%), pension plans (23.5%) and savings insurance (26.4%).

    It also leads the way in online banking and mobile banking, with 55% digital clients and 4.3 million customers, respectively. CaixaBank’s business model relies heavily on technology and digitalisation, with 32,200 smart PCs up and running and 98% of digital signatures in 2017.

    Net interest income of €4,746 million (+14.2%)

    Against a backdrop of rock-bottom interest rates, net interest income totalled €4,746 million (+14.2% year on year), driven by the integration of business from BPI, which contributed growth of 9.1%. At CaixaBank, net interest income was up 5.1%, largely in response to sound management of retail activity, with a sharp drop in the cost of maturity deposits. Income performance was affected by the falling returns on the loan portfolio and the fixed income portfolio, which were in turn down to the drop in market interest rates.

    Meanwhile, fee and commission income amounted to €2,499 million. The change here (+19.5%) was driven by the contribution made by BPI (+13.2%) and income generated from commercial activity at CaixaBank (+6.3%), showing an increase in transactions and activity due to the strength of the asset management and research businesses.

    Recurring administrative expenses, depreciation and amortisation totalled €4,467 million (+11.8%), largely in response to the integration of BPI, although they remain steady on a like-for-like basis (+1% on 2016 and +0.2% in staff expenses). In 2017, a total of €110 million in extraordinary costs was booked in connection with BPI.

    Income from equity investments totalled €653 million (-21%), reflecting, among other factors, the lower dividend pay-out at Telefónica, changes in the scope of consolidation and BPI’s move to sell 2% of its stake in BFA (€-97 million attributed), which was reported in January before the effective takeover. Earnings were down in the fourth quarter on BPI’s investment in Angola.

    Gains/(losses) on financial assets and liabilities and others fell to €282 million (-66.7%). In 2016, this figure included €165 million resulting from the Visa Europe Ltd. deal, as well as the materialisation of capital gains on available-for-sale fixed-income securities.

    Customer funds at CaixaBank up 3.5%

    Total customer funds at the Group were €349,458 million, up 15.2% (€+45,563) in 2017 following the integration of BPI (+11.5%; €34,963 million). Meanwhile, customer funds at CaixaBank gained 3.5% in 2017 (€+10,600 million) and remained stable in the last quarter (-0.2%).

    At CaixaBank, loans and advances, gross, were down 1.9% while the performing portfolio shed 1.2% in 2017. If we exclude the drop in lending to CriteriaCaixa due to the process of prudential deconsolidation (€1,043 million in the first quarter of 2017) and the change in lending to the public sector, the performing portfolio remained stable (+0.4%).

    Meanwhile, loans to businesses and consumer loans both performed well, gaining 16% and 15%, respectively.

    On the commercial front at CaixaBank, the period saw sharp growth in the insurance and asset management business. Assets under management reached €88,018 million, up 7.5% in the year and 1.3% in the quarter.

    Following the trend observed in recent years, assets under management in investment funds, portfolios and SICAVs made sizeable gains to reach €61,077 million (+7.8% in the year), while pension plans also performed well (+6.8% in the year) to reach €26,941 million.

    CaixaBank remains the leader in assets under management through insurance products, plans and funds, with a market share of 21.3%.

    The Group’s NPL ratio falls to 6%

    The CaixaBank Group’s NPL ratio was 6% (6.9% at 31 December 2016), well below the average for the sector, while the NPL coverage ratio improved to 50% (47% at year-end 2016).

    At the Group, non-performing loans fell to €14,305 million. At CaixaBank, they amounted to €13,086 million, down €1,668 million in 2017 and €837 in the quarter, which included the sale of loan portfolios.

    Meanwhile, loan-loss provisions totalled €799 million. The annual change (+154.2%) here came partly in response to the release of €676 million in provisions on the loan portfolio in the fourth quarter of 2016 following the development of internal models compliant with the terms of Circular 4/2016. Excluding this effect, the annual performance would have been -19.3%.

    Other charges to provisions came to €912 million and includes, among other impacts, the recognition of €455 million in connection with early retirements (€152 million and €303 million in the first and second quarter of the year, respectively), €154 million in write-downs on exposure to the SAREB in the first quarter.

    Sales of real estate assets total €1,610 million (+20%)

    The portfolio of net foreclosed real estate assets available for sale in Spain fell to €5,878 million (down €-378 million in 2017). The coverage ratio was 58%.

    Total sales of real estate assets in 2017 amounted to €1,610 million euros (up 20% year on year), with positive proceeds reported since the fourth quarter of 2015. Proceeds from asset sales to net book value stood at 20% in 2017 (+14 percentage points year on year).

    Real estate assets held for rent dropped to €3,030 million net of provisions (€-48 million in 2017). The portfolio has an occupancy rate of 88%.

    Strong boost to liquidity throughout the year

    Total liquid assets came to €72,775 million. The Group’s liquidity position strengthened over the course of the year, as shown by its Liquidity Coverage Ratio (LCR) of 202%, well clear of the minimum requirement of 100% from 1 January 2018 onward.

    The CaixaBank Group had a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.7% at 31 December, within the target band envisioned in the 2015-2018 Strategic Plan (11%-12%), and almost 3 percentage points clear of the supervisory requirement of 8.75%. Excluding the impact of the integration of BPI, the ratio gained 60 basis points in the year on the back of solid capital generation, but shed 26 basis points due to market conditions and other factors.

    Meanwhile, fully-loaded total capital was 15.7%, exceeding the 14.5% target envisaged in the Strategic Plan. The ratio was further strengthened during the year with a €1,000 million issue of AT1 and several issues of subordinated debt totalling €2,000 million placed between February and July.

     Welfare Projects: over 11 million beneficiaries

    The ”la Caixa” Banking Foundation, governed by Isidro Fainé, accomplished various milestones in 2017 across all three of its priority areas of action: social work, research and the dissemination of culture and knowledge. These results are a direct product of the 2016-2019 Strategic Plan, which envisions upwards of €2,000 million in investment in this four-year period under the motto “Changing the present. Building the future”.

    In 2017, ”la Caixa” Welfare Projects increased its budget to €510 million, marking an improvement on the €500 million in the previous nine years. Globally, the Banking Foundation, which directly oversees Welfare Projects and uses CriteriaCaixa to pool together all of the ”la Caixa” Group's shareholdings, including CaixaBank, championed nearly 50,000 initiatives in 2017, benefitting over 11 million individuals.

    Flagship social projects here include CaixaProinfancia, which for ten years has been fostering the social inclusion of vulnerable children and extending its support to their family members. In 2017, this initiative reached out to over 62,000 children from households at risk of exclusion.

    Job creation on the rise

    In addition to the fight against child poverty, the Strategic Plan views job creation as a further priority of the Banking Foundation. Its job opportunities programme, Incorpora, has just celebrated its tenth anniversary. The initiative offered over 30,600 jobs to vulnerable individuals over the course of 2017, compared to the 28,920 jobs reported in the previous year. This has largely been made possible by the 10,000-plus companies now collaborating on the programme.

    Turning to healthcare, the Banking Foundation has already set up its Comprehensive Care Programme for People with Advanced Diseases at 123 different healthcare centres. In 2017, a total of 24,094 patients and 29,555 family members received psychological and social care and support.

    Providing easier access to housing is another strategic priority under the Strategic Plan. The ”la Caixa” Banking Foundation already has upwards of 32,000 flats available to low-income individuals and families, with monthly rents starting at just €85.

    Elderly people have traditionally been a priority for Welfare Projects ever since the inception, over a century ago, of “la Caixa” as a pensions and old-age savings institution. In 2017, a total of 821,532 participants lent their support to numerous social, cultural, healthcare and technological initiatives championing active and healthy ageing.

    In addition, we have the hugely successful milk collection campaign Milk moustache for all kids, which is aimed at vulnerable families and is supported by food banks across all of Spain. Now in its third year, the initiative has so far collected 1.2 million litres of milk.

    The Banking Foundation views education as a key driver of individual and collective progress. Training therefore remains one of its key priorities. Here, the eduCaixa programme has reached out to over 2.4 million pupils from a total of 8,300 Spanish schools. Different types of grants and scholarships are also handed out as part of this drive to improve levels of education.

    Meanwhile, the ”la Caixa” Banking Foundation and the Telefónica Foundation are continuing to work together on their joint ProFuturo project. The initiative, inspired by Pope Francis, seeks to promote the digital education of children, teenagers and adults from the most underprivileged regions of Africa, Latin America, the Middle East and South-East Asia.

    In 2017, the Banking Foundation stepped up its international collaboration with internationally renowned entities, including Bill & Melinda Gates Foundation to promote child vaccination in developing countries; UNICEF with the aim of reducing child deaths caused by pneumonia; and UNHCR to improve living conditions for refugees.

    Following the agreement reached with Portuguese bank BPI, the ”la Caixa” Banking Foundation has recently announced the expansion of Welfare Projects to Portugal, where it intends to channel up to 50 million euros a year by rolling out the Foundation’s most emblematic projects in the country.

    Research Essentials

    The 2016-2019 Strategic Plan is firmly committed to medical research and is looking to triple the budget in this realm to €90 million by the end of the four-year plan horizon. To better visualise this commitment, a campaign was launched in 2017 to raise awareness of the importance of research in improving the well-being of people and to recognise the efforts of scientists who dedicate their lives to fighting disease and protecting one of our most valued assets: our own health. They are the Essentials.

    The Foundation has also deepened its commitment to scientific progress through its ongoing support for research into Alzheimer’s, AIDS, neurodegenerative diseases and cardiovascular conditions.

    A total of 6 million people visited the different cultural, scientific and educational programmes and events organised across all of Spain by ”la Caixa” Welfare Projects in 2017, up 13% year on year.  These impressive figures have been reached while maintaining unrivalled levels of cultural and scientific outreach –another priority under the Strategic Plan.

    At CaixaForum, Barcelona, the exhibition titled Andy Warhol. Mechanical Art was the most visited event during the year. Turning to CosmoCaixa, the Science Museum of Welfare Projects in Barcelona, highlights for the year included the unveiling of T. rex, the fossil of a dinosaur that inhabited the Earth some 67 million years ago. Meanwhile, at CaixaForum Madrid the most popular exhibition was Ramon Casas. A much-yearned modernity.

     

    ]]>
  • Net interest income was up 14.2% to €4,746 million; fee and commission income totalled €2,499 million (+19.5%); and income and expense arising from insurance and reinsurance contracts climbed 51.9% to €472 million. 
  • Gross revenues amounted to €8,222 million. The 5.1% increase year on year was down to increased generation of core revenues (up 18% on 2016 to €7,887 million) and the integration of BPI.  
  • Of this revenue, 96% originated from core banking activity, following the drop in activity in trading revenuess (-66.7%) and the reduced contribution from equity investments (-21%). 
  • Loans and advances to customers, gross, stood at €223,951 million (+9.3% in 2017). At CaixaBank, the performing portfolio was up 0.4% excluding the reduction of €1,043 million in financing to CriteriaCaixa and the change in lending to the public sector. 
  • In the last year, the non-performing loan (NPL) ratio has shed 84 basis points to reach 6%, illustrating the improvements seen in credit quality. In the same period, non-performing loans were down €1,668 million at CaixaBank. 
  • Total liquid assets stood at €72,775 million. The Group’s liquidity position strengthened in the course of the year, as shown by its Liquidity Coverage Ratio (LCR) of 202%, well clear of the minimum requirement of 100% from 1 January 2018 onward. 
  • The CaixaBank Group has a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.7%, within the 11-12% target band envisioned in the 2015-18 Strategic Plan, and almost 3 percentage points higher than the fully loaded supervisory requirement of 8.75%.
  • The CaixaBank Group, the number one retail bank in Spain with Jordi Gual as Chairman and Gonzalo Gortázar as CEO, reported net attributable profit of €1,684 million in 2017 (+60.9% year on year), making it CaixaBank's best ever annual performance. Profit at CaixaBank in Spain came to €1,508 million, up 44.1% on 2016.

    The annual improvement came in response to intensive commercial activity at CaixaBank and also the full consolidation of the results of BPI from February onward, which impacted the main headings of CaixaBank’s income statement by contributing a total of €176 million to the Group’s results.

    Gross income amounted to €8,222 million (+5.1%) as core income from the banking business increased (net interest income, fee and commission income and income from the insurance business), which gained 18% at the Group and 8% at CaixaBank, and also because of the incorporation of BPI. Of this income, 96% originates from core banking activity, following the drop in activity on financial transactions (-66.7%) and the reduced contribution from equity investments (-21%).

    Profitability at the CaixaBank Group has gained 280 basis points since December and was 8.4% at year-end (close to the 9%-11% target band envisaged in the Strategic Plan), while recurring ROTE from the banking and insurance business ended the year at 11.2%, showing a result of €1,748 million.

    CaixaBank has cemented its leading position in the Spanish retail market. It is now the main bank for 26.7% of customers (+100 basis points in the last 12 months) and ranks first in salary deposits (market share of 26.3%), investment funds (16.7%), pension plans (23.5%) and savings insurance (26.4%).

    It also leads the way in online banking and mobile banking, with 55% digital clients and 4.3 million customers, respectively. CaixaBank’s business model relies heavily on technology and digitalisation, with 32,200 smart PCs up and running and 98% of digital signatures in 2017.

    Net interest income of €4,746 million (+14.2%)

    Against a backdrop of rock-bottom interest rates, net interest income totalled €4,746 million (+14.2% year on year), driven by the integration of business from BPI, which contributed growth of 9.1%. At CaixaBank, net interest income was up 5.1%, largely in response to sound management of retail activity, with a sharp drop in the cost of maturity deposits. Income performance was affected by the falling returns on the loan portfolio and the fixed income portfolio, which were in turn down to the drop in market interest rates.

    Meanwhile, fee and commission income amounted to €2,499 million. The change here (+19.5%) was driven by the contribution made by BPI (+13.2%) and income generated from commercial activity at CaixaBank (+6.3%), showing an increase in transactions and activity due to the strength of the asset management and research businesses.

    Recurring administrative expenses, depreciation and amortisation totalled €4,467 million (+11.8%), largely in response to the integration of BPI, although they remain steady on a like-for-like basis (+1% on 2016 and +0.2% in staff expenses). In 2017, a total of €110 million in extraordinary costs was booked in connection with BPI.

    Income from equity investments totalled €653 million (-21%), reflecting, among other factors, the lower dividend pay-out at Telefónica, changes in the scope of consolidation and BPI’s move to sell 2% of its stake in BFA (€-97 million attributed), which was reported in January before the effective takeover. Earnings were down in the fourth quarter on BPI’s investment in Angola.

    Gains/(losses) on financial assets and liabilities and others fell to €282 million (-66.7%). In 2016, this figure included €165 million resulting from the Visa Europe Ltd. deal, as well as the materialisation of capital gains on available-for-sale fixed-income securities.

    Customer funds at CaixaBank up 3.5%

    Total customer funds at the Group were €349,458 million, up 15.2% (€+45,563) in 2017 following the integration of BPI (+11.5%; €34,963 million). Meanwhile, customer funds at CaixaBank gained 3.5% in 2017 (€+10,600 million) and remained stable in the last quarter (-0.2%).

    At CaixaBank, loans and advances, gross, were down 1.9% while the performing portfolio shed 1.2% in 2017. If we exclude the drop in lending to CriteriaCaixa due to the process of prudential deconsolidation (€1,043 million in the first quarter of 2017) and the change in lending to the public sector, the performing portfolio remained stable (+0.4%).

    Meanwhile, loans to businesses and consumer loans both performed well, gaining 16% and 15%, respectively.

    On the commercial front at CaixaBank, the period saw sharp growth in the insurance and asset management business. Assets under management reached €88,018 million, up 7.5% in the year and 1.3% in the quarter.

    Following the trend observed in recent years, assets under management in investment funds, portfolios and SICAVs made sizeable gains to reach €61,077 million (+7.8% in the year), while pension plans also performed well (+6.8% in the year) to reach €26,941 million.

    CaixaBank remains the leader in assets under management through insurance products, plans and funds, with a market share of 21.3%.

    The Group’s NPL ratio falls to 6%

    The CaixaBank Group’s NPL ratio was 6% (6.9% at 31 December 2016), well below the average for the sector, while the NPL coverage ratio improved to 50% (47% at year-end 2016).

    At the Group, non-performing loans fell to €14,305 million. At CaixaBank, they amounted to €13,086 million, down €1,668 million in 2017 and €837 in the quarter, which included the sale of loan portfolios.

    Meanwhile, loan-loss provisions totalled €799 million. The annual change (+154.2%) here came partly in response to the release of €676 million in provisions on the loan portfolio in the fourth quarter of 2016 following the development of internal models compliant with the terms of Circular 4/2016. Excluding this effect, the annual performance would have been -19.3%.

    Other charges to provisions came to €912 million and includes, among other impacts, the recognition of €455 million in connection with early retirements (€152 million and €303 million in the first and second quarter of the year, respectively), €154 million in write-downs on exposure to the SAREB in the first quarter.

    Sales of real estate assets total €1,610 million (+20%)

    The portfolio of net foreclosed real estate assets available for sale in Spain fell to €5,878 million (down €-378 million in 2017). The coverage ratio was 58%.

    Total sales of real estate assets in 2017 amounted to €1,610 million euros (up 20% year on year), with positive proceeds reported since the fourth quarter of 2015. Proceeds from asset sales to net book value stood at 20% in 2017 (+14 percentage points year on year).

    Real estate assets held for rent dropped to €3,030 million net of provisions (€-48 million in 2017). The portfolio has an occupancy rate of 88%.

    Strong boost to liquidity throughout the year

    Total liquid assets came to €72,775 million. The Group’s liquidity position strengthened over the course of the year, as shown by its Liquidity Coverage Ratio (LCR) of 202%, well clear of the minimum requirement of 100% from 1 January 2018 onward.

    The CaixaBank Group had a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.7% at 31 December, within the target band envisioned in the 2015-2018 Strategic Plan (11%-12%), and almost 3 percentage points clear of the supervisory requirement of 8.75%. Excluding the impact of the integration of BPI, the ratio gained 60 basis points in the year on the back of solid capital generation, but shed 26 basis points due to market conditions and other factors.

    Meanwhile, fully-loaded total capital was 15.7%, exceeding the 14.5% target envisaged in the Strategic Plan. The ratio was further strengthened during the year with a €1,000 million issue of AT1 and several issues of subordinated debt totalling €2,000 million placed between February and July.

     Welfare Projects: over 11 million beneficiaries

    The ”la Caixa” Banking Foundation, governed by Isidro Fainé, accomplished various milestones in 2017 across all three of its priority areas of action: social work, research and the dissemination of culture and knowledge. These results are a direct product of the 2016-2019 Strategic Plan, which envisions upwards of €2,000 million in investment in this four-year period under the motto “Changing the present. Building the future”.

    In 2017, ”la Caixa” Welfare Projects increased its budget to €510 million, marking an improvement on the €500 million in the previous nine years. Globally, the Banking Foundation, which directly oversees Welfare Projects and uses CriteriaCaixa to pool together all of the ”la Caixa” Group's shareholdings, including CaixaBank, championed nearly 50,000 initiatives in 2017, benefitting over 11 million individuals.

    Flagship social projects here include CaixaProinfancia, which for ten years has been fostering the social inclusion of vulnerable children and extending its support to their family members. In 2017, this initiative reached out to over 62,000 children from households at risk of exclusion.

    Job creation on the rise

    In addition to the fight against child poverty, the Strategic Plan views job creation as a further priority of the Banking Foundation. Its job opportunities programme, Incorpora, has just celebrated its tenth anniversary. The initiative offered over 30,600 jobs to vulnerable individuals over the course of 2017, compared to the 28,920 jobs reported in the previous year. This has largely been made possible by the 10,000-plus companies now collaborating on the programme.

    Turning to healthcare, the Banking Foundation has already set up its Comprehensive Care Programme for People with Advanced Diseases at 123 different healthcare centres. In 2017, a total of 24,094 patients and 29,555 family members received psychological and social care and support.

    Providing easier access to housing is another strategic priority under the Strategic Plan. The ”la Caixa” Banking Foundation already has upwards of 32,000 flats available to low-income individuals and families, with monthly rents starting at just €85.

    Elderly people have traditionally been a priority for Welfare Projects ever since the inception, over a century ago, of “la Caixa” as a pensions and old-age savings institution. In 2017, a total of 821,532 participants lent their support to numerous social, cultural, healthcare and technological initiatives championing active and healthy ageing.

    In addition, we have the hugely successful milk collection campaign Milk moustache for all kids, which is aimed at vulnerable families and is supported by food banks across all of Spain. Now in its third year, the initiative has so far collected 1.2 million litres of milk.

    The Banking Foundation views education as a key driver of individual and collective progress. Training therefore remains one of its key priorities. Here, the eduCaixa programme has reached out to over 2.4 million pupils from a total of 8,300 Spanish schools. Different types of grants and scholarships are also handed out as part of this drive to improve levels of education.

    Meanwhile, the ”la Caixa” Banking Foundation and the Telefónica Foundation are continuing to work together on their joint ProFuturo project. The initiative, inspired by Pope Francis, seeks to promote the digital education of children, teenagers and adults from the most underprivileged regions of Africa, Latin America, the Middle East and South-East Asia.

    In 2017, the Banking Foundation stepped up its international collaboration with internationally renowned entities, including Bill & Melinda Gates Foundation to promote child vaccination in developing countries; UNICEF with the aim of reducing child deaths caused by pneumonia; and UNHCR to improve living conditions for refugees.

    Following the agreement reached with Portuguese bank BPI, the ”la Caixa” Banking Foundation has recently announced the expansion of Welfare Projects to Portugal, where it intends to channel up to 50 million euros a year by rolling out the Foundation’s most emblematic projects in the country.

    Research Essentials

    The 2016-2019 Strategic Plan is firmly committed to medical research and is looking to triple the budget in this realm to €90 million by the end of the four-year plan horizon. To better visualise this commitment, a campaign was launched in 2017 to raise awareness of the importance of research in improving the well-being of people and to recognise the efforts of scientists who dedicate their lives to fighting disease and protecting one of our most valued assets: our own health. They are the Essentials.

    The Foundation has also deepened its commitment to scientific progress through its ongoing support for research into Alzheimer’s, AIDS, neurodegenerative diseases and cardiovascular conditions.

    A total of 6 million people visited the different cultural, scientific and educational programmes and events organised across all of Spain by ”la Caixa” Welfare Projects in 2017, up 13% year on year.  These impressive figures have been reached while maintaining unrivalled levels of cultural and scientific outreach –another priority under the Strategic Plan.

    At CaixaForum, Barcelona, the exhibition titled Andy Warhol. Mechanical Art was the most visited event during the year. Turning to CosmoCaixa, the Science Museum of Welfare Projects in Barcelona, highlights for the year included the unveiling of T. rex, the fossil of a dinosaur that inhabited the Earth some 67 million years ago. Meanwhile, at CaixaForum Madrid the most popular exhibition was Ramon Casas. A much-yearned modernity.

     

    ]]>
    0
    <![CDATA[CaixaBank international families]]> https://blog.caixabank.es/?p=23645 2018-01-30T00:00:00.0Z 2018-01-30T00:00:00.0Z <![CDATA[CaixaBank international families]]> Starting a new life in a different country is an adventure that involves change and adaptation to its customs, habits, traditions, etc.; but it also means new challenges and opportunities.

    This is something that the international banking team here at CaixaBank are very familiar with. Present in 26 locations, spread across 18 countries, the institution has professionals from very diverse nationalities, backgrounds and walks of life who are also experts in adapting to new cultures and situations.

     

     

    For his part, Raúl loves Chilean culture in which friends and family get together very often with any excuse to have an asado (barbecue), “they’ve made a whole culture out of it”. For Raúl it was an easy custom to take on. For Claudina, it’s Italian creativity and she loves the fact that “almost anything can be sorted out over a cup of coffee.” One Indian tradition that Pradeep treasures is their way of seeing in the Spring: “Holi”. This is an event where men, women and children come together to celebrate the festival of colour, which involves throwing brightly coloured powders and dyed water as a symbol of happiness at the arrival of Spring. Iosif, meanwhile, said that they celebrate all kinds of holidays in his house, (Thanksgiving, Christmas, Epiphany, Easter, etc.). What they all have in common is their international calling and the passion they put into what they do, even though they are far from their families.

    Little multicultural issues

    When cultures live side-by-side, it can generate some little issues that families deal with on a daily basis. Pradeep, a vegetarian, fondly remembers a tricky situation that arose when he came to study in Spain: his friends took him out for lunch at a ham-themed tavern.

    Claudina admits that Spanish cuisine takes a back-seat in her family home in Italy; basically, when her husband wants to make amends with her, he cooks up Spanish omelette for her.

    When Raúl’s kids want to wind him up, they talk to him using Chilean phrases. Raúl also mentions that, when there are international football matches, his children support Chile and he supports Spain.

    However, despite all of these issues, having direct contact with various cultures is a great personal experience and an opportunity for the organisation where this team is working. For CaixaBank, having people of different ages, genders and backgrounds on the team helps to bring out the best in all of them.

    ]]>
    Starting a new life in a different country is an adventure that involves change and adaptation to its customs, habits, traditions, etc.; but it also means new challenges and opportunities.

    This is something that the international banking team here at CaixaBank are very familiar with. Present in 26 locations, spread across 18 countries, the institution has professionals from very diverse nationalities, backgrounds and walks of life who are also experts in adapting to new cultures and situations.

     

     

    For his part, Raúl loves Chilean culture in which friends and family get together very often with any excuse to have an asado (barbecue), “they’ve made a whole culture out of it”. For Raúl it was an easy custom to take on. For Claudina, it’s Italian creativity and she loves the fact that “almost anything can be sorted out over a cup of coffee.” One Indian tradition that Pradeep treasures is their way of seeing in the Spring: “Holi”. This is an event where men, women and children come together to celebrate the festival of colour, which involves throwing brightly coloured powders and dyed water as a symbol of happiness at the arrival of Spring. Iosif, meanwhile, said that they celebrate all kinds of holidays in his house, (Thanksgiving, Christmas, Epiphany, Easter, etc.). What they all have in common is their international calling and the passion they put into what they do, even though they are far from their families.

    Little multicultural issues

    When cultures live side-by-side, it can generate some little issues that families deal with on a daily basis. Pradeep, a vegetarian, fondly remembers a tricky situation that arose when he came to study in Spain: his friends took him out for lunch at a ham-themed tavern.

    Claudina admits that Spanish cuisine takes a back-seat in her family home in Italy; basically, when her husband wants to make amends with her, he cooks up Spanish omelette for her.

    When Raúl’s kids want to wind him up, they talk to him using Chilean phrases. Raúl also mentions that, when there are international football matches, his children support Chile and he supports Spain.

    However, despite all of these issues, having direct contact with various cultures is a great personal experience and an opportunity for the organisation where this team is working. For CaixaBank, having people of different ages, genders and backgrounds on the team helps to bring out the best in all of them.

    ]]>
    0
    <![CDATA[Ten years opening doors to the rest of the world]]> https://blog.caixabank.es/?p=23645 2018-01-19T00:00:00.0Z 2018-01-19T00:00:00.0Z <![CDATA[Ten years opening doors to the rest of the world]]> In 2017, CaixaBank celebrated the 10th year running of its Puertas al Exterior event. These events are aimed at providing advice for business executives who are interested in boosting their businesses abroad.

    Since 2008, more than 2,700 companies have taken part in the Puertas al Exterior events. There have been over 5,200 meetings with CaixaBank international trade specialists. The bank has run this initiative in 24 cities, in all of the Autonomous Communities of Spain.

     

    This has meant that business executives can get first-hand information and clear up any doubts that they might have about doing business in these countries. Furthermore, they have been given advice on new countries and markets to send their exports to and how to position their international projects better. The objective has been to bring knowledge on the different countries where the CaixaBank network is present, giving centre stage to the management team.

    Support in over 120 countries

    For María Cruz Rivera, the head of Foreign Trade at CaixaBank, “these events are an excellent initiative that make us a reference point for companies that are thinking of going international, which was a clear commitment for CaixaBank 10 years ago when we realised that our customers needed advice for promoting their businesses overseas.

    In this way, the bank provides support in 127 countries through its operating branches, representative offices, correspondent banks and bank involvement which, along with specialist managers working in our Spanish offices, offer the best consultancy services for business operations abroad.

    These events are an excellent initiative that make us a reference point for companies that are thinking of going international

    The institution offers these services both for SMEs and microbusinesses that are already setting up their export activities and for large corporations and business groups that have to tackle more complex international projects.

    We also wish to highlight our commitment to making our consultancy services available to a greater number of customers throughout Spain with online specialists in foreign trade. By using video calls they can have a rapid and close relationship with our business executives and entrepreneurs.

    Over 110 centres specialised in businesses

    CaixaBank Business has 117 specialist centres through which we serve over 81,000 companies. CaixaBank is the only financial institution in Europe that has been awarded AENOR certification for its services and financial support in Business Banking, Foreign Trade and Business Banking.

    CaixaBank has a team made up of 1,375 professionals who are highly specialised and constantly being trained, with a solid reputation in business consulting. Furthermore, this team has also been able to rely on constant innovation in the service, which has meant that they can, for example, provide advanced consultancy services using video calls or set up new communications channels between customers and their managers, such as the Business Wall.

    ]]>
    In 2017, CaixaBank celebrated the 10th year running of its Puertas al Exterior event. These events are aimed at providing advice for business executives who are interested in boosting their businesses abroad.

    Since 2008, more than 2,700 companies have taken part in the Puertas al Exterior events. There have been over 5,200 meetings with CaixaBank international trade specialists. The bank has run this initiative in 24 cities, in all of the Autonomous Communities of Spain.

     

    This has meant that business executives can get first-hand information and clear up any doubts that they might have about doing business in these countries. Furthermore, they have been given advice on new countries and markets to send their exports to and how to position their international projects better. The objective has been to bring knowledge on the different countries where the CaixaBank network is present, giving centre stage to the management team.

    Support in over 120 countries

    For María Cruz Rivera, the head of Foreign Trade at CaixaBank, “these events are an excellent initiative that make us a reference point for companies that are thinking of going international, which was a clear commitment for CaixaBank 10 years ago when we realised that our customers needed advice for promoting their businesses overseas.

    In this way, the bank provides support in 127 countries through its operating branches, representative offices, correspondent banks and bank involvement which, along with specialist managers working in our Spanish offices, offer the best consultancy services for business operations abroad.

    These events are an excellent initiative that make us a reference point for companies that are thinking of going international

    The institution offers these services both for SMEs and microbusinesses that are already setting up their export activities and for large corporations and business groups that have to tackle more complex international projects.

    We also wish to highlight our commitment to making our consultancy services available to a greater number of customers throughout Spain with online specialists in foreign trade. By using video calls they can have a rapid and close relationship with our business executives and entrepreneurs.

    Over 110 centres specialised in businesses

    CaixaBank Business has 117 specialist centres through which we serve over 81,000 companies. CaixaBank is the only financial institution in Europe that has been awarded AENOR certification for its services and financial support in Business Banking, Foreign Trade and Business Banking.

    CaixaBank has a team made up of 1,375 professionals who are highly specialised and constantly being trained, with a solid reputation in business consulting. Furthermore, this team has also been able to rely on constant innovation in the service, which has meant that they can, for example, provide advanced consultancy services using video calls or set up new communications channels between customers and their managers, such as the Business Wall.

    ]]>
    0
    <![CDATA[Morocco and Sub-Saharan Countries: opportunities in plain view]]> https://blog.caixabank.es/?p=23645 2018-01-12T00:00:00.0Z 2018-01-12T00:00:00.0Z <![CDATA[Morocco and Sub-Saharan Countries: opportunities in plain view]]> As manager of CaixaBank’s international banking office, I have been living in North Africa for five years now. Over the last two years, I have been in charge of managing the organisation’s operations branch in Morocco, with three branches: Casablanca, Tangier and Agadir. Throughout my time here, I have discovered first-hand the economic and social situation of an emerging region on the international stage, which is becoming increasingly relevant and attractive in all senses.

    In Morocco specifically, I have come across a people with a deep bond to their traditions and strong families ties but also generous, welcoming and completely open to people from other cultures. There has been progress regarding the economic situation, though I believe that the best is yet to come thanks to two trump cards that it still has up its sleeve: a clear development strategy and a very young population. Of the 35 million Moroccans currently living there, 53% are below the age of 24. With the right focus on education, Morocco has what it takes to become a great country.

    From an economic standpoint, there are three areas, separated in terms of their production activity, among other factors. In the North, the city of Tangier is the great hub of commercial attraction, with the Tanger-Med port and most of the textile factories in this area. In the centre of the country, Casablanca, Rabat and Kenitra have the main concentration of the aeronautical industry, the automotive sector and branches of large international companies. In the South, Agadir attracts a large part of the fishing and agricultural sectors. This last sector plays a crucial role in the Moroccan economy since it accounts for 15% of its GDP and employs around 40% of the total workforce, making up 20% of Moroccan export values.

    Data confirms that Spain is Morocco’s main trading partner. There is a trade flow with a volume of approximately €13 billion. 35.1% of the exports from the European Union to Morocco are made by Spanish companies, compared to 18.4% for French companies and 10.5% for German ones.  The country has 19,000 Spanish export-import businesses, 5,000 of which have been regularly operating in the last four years. Morocco is therefore the reason behind huge success for Spanish companies in terms of international trade.

    However, investment is an outstanding issue. While most of the companies on the French CAC 40 index have created specific branches for their operations on the Moroccan market, a mere 3 companies on the Spanish IBEX 35 have a similar presence there. This has its grounding in political and historical matters, as well as the poor results from some recent projects that were intended as a way out from the Spanish property bubble. However, the situation has now changed: the rate of growth in Morocco, with 4% rise in GDP over the last years and the excellent political relationships that the country is making are turning it into a very interesting place for investment.

    VIDEO

    This is the perfect time for big Spanish businesses to start taking part in Morocco’s economic development and playing a definitive role in projects in important sectors such as infrastructure, renewable energy, the food and agriculture industry or civil engineering. In turn, these corporations will help to streamline the flow of business towards service-provider SMEs. To use a recent example, the Spanish companies Acciona, Sener and Tsk built one of the largest solar thermal plants in the world on Moroccan soil and in the process they have worked with a large number of Spanish SMEs.

    However, there is another reason why Spanish companies should take their neighbouring country into consideration when planning their investments: Morocco is currently a very promising market and is setting itself up as the port of entry to the rest of Africa. Casablanca has become a huge financial hub and the city is full of business executives from the entire continent, especially from the Sub-Saharan region.

    Furthermore, Morocco has recently re-joined the African Union and has requested membership to the ECOWAS (Economic Community of West African States). When these treaties come into effect, the country (and also the Spanish companies that have subsidiaries there) will be able to start trading freely with these states.

    We could speak of places such as the Ivory Coast, with GDP growth at yearly rate of around 8% or Senegal with yearly growth rate of between 6% and 7%. The wide range of opportunities includes infrastructure (where many projects have support from multilateral bodies such as the World Bank, the African Development Bank or the European Union), construction, renewable energies, fishing, agriculture and the trade of machinery and consumer goods. 

    Clearly, anyone who wants to set off on this adventure needs to be well advised. We cannot speak of Africa as a single market but rather as a widely diverse set of countries with interesting perspectives, but also with inequality in their situations. Clear ideas and support from a professional team who are specialised in the region are the key to success.

    Morocco specifically has realms of knowledge on the Sub-Saharan countries, with which it has been trading for some time now. Investment has recently sky-rocketed in sectors such as banking, insurance, mobile phones and agriculture. However, this doesn’t mean that opportunities are running out for Spanish companies, quite the opposite: our analysis shows that in Morocco we can find the experience and the communications channels necessary to enter new markets with some guarantees.

    All in all, Spanish businesses need to start looking towards Morocco and Africa, a continent that is only 14 kilometres from our doorstep, but where almost everything is in the making, an endless list of projects and investment opportunities that can be taken on with the support of good advisors and support from specialists in the region.

    ]]>
    As manager of CaixaBank’s international banking office, I have been living in North Africa for five years now. Over the last two years, I have been in charge of managing the organisation’s operations branch in Morocco, with three branches: Casablanca, Tangier and Agadir. Throughout my time here, I have discovered first-hand the economic and social situation of an emerging region on the international stage, which is becoming increasingly relevant and attractive in all senses.

    In Morocco specifically, I have come across a people with a deep bond to their traditions and strong families ties but also generous, welcoming and completely open to people from other cultures. There has been progress regarding the economic situation, though I believe that the best is yet to come thanks to two trump cards that it still has up its sleeve: a clear development strategy and a very young population. Of the 35 million Moroccans currently living there, 53% are below the age of 24. With the right focus on education, Morocco has what it takes to become a great country.

    From an economic standpoint, there are three areas, separated in terms of their production activity, among other factors. In the North, the city of Tangier is the great hub of commercial attraction, with the Tanger-Med port and most of the textile factories in this area. In the centre of the country, Casablanca, Rabat and Kenitra have the main concentration of the aeronautical industry, the automotive sector and branches of large international companies. In the South, Agadir attracts a large part of the fishing and agricultural sectors. This last sector plays a crucial role in the Moroccan economy since it accounts for 15% of its GDP and employs around 40% of the total workforce, making up 20% of Moroccan export values.

    Data confirms that Spain is Morocco’s main trading partner. There is a trade flow with a volume of approximately €13 billion. 35.1% of the exports from the European Union to Morocco are made by Spanish companies, compared to 18.4% for French companies and 10.5% for German ones.  The country has 19,000 Spanish export-import businesses, 5,000 of which have been regularly operating in the last four years. Morocco is therefore the reason behind huge success for Spanish companies in terms of international trade.

    However, investment is an outstanding issue. While most of the companies on the French CAC 40 index have created specific branches for their operations on the Moroccan market, a mere 3 companies on the Spanish IBEX 35 have a similar presence there. This has its grounding in political and historical matters, as well as the poor results from some recent projects that were intended as a way out from the Spanish property bubble. However, the situation has now changed: the rate of growth in Morocco, with 4% rise in GDP over the last years and the excellent political relationships that the country is making are turning it into a very interesting place for investment.

    VIDEO

    This is the perfect time for big Spanish businesses to start taking part in Morocco’s economic development and playing a definitive role in projects in important sectors such as infrastructure, renewable energy, the food and agriculture industry or civil engineering. In turn, these corporations will help to streamline the flow of business towards service-provider SMEs. To use a recent example, the Spanish companies Acciona, Sener and Tsk built one of the largest solar thermal plants in the world on Moroccan soil and in the process they have worked with a large number of Spanish SMEs.

    However, there is another reason why Spanish companies should take their neighbouring country into consideration when planning their investments: Morocco is currently a very promising market and is setting itself up as the port of entry to the rest of Africa. Casablanca has become a huge financial hub and the city is full of business executives from the entire continent, especially from the Sub-Saharan region.

    Furthermore, Morocco has recently re-joined the African Union and has requested membership to the ECOWAS (Economic Community of West African States). When these treaties come into effect, the country (and also the Spanish companies that have subsidiaries there) will be able to start trading freely with these states.

    We could speak of places such as the Ivory Coast, with GDP growth at yearly rate of around 8% or Senegal with yearly growth rate of between 6% and 7%. The wide range of opportunities includes infrastructure (where many projects have support from multilateral bodies such as the World Bank, the African Development Bank or the European Union), construction, renewable energies, fishing, agriculture and the trade of machinery and consumer goods. 

    Clearly, anyone who wants to set off on this adventure needs to be well advised. We cannot speak of Africa as a single market but rather as a widely diverse set of countries with interesting perspectives, but also with inequality in their situations. Clear ideas and support from a professional team who are specialised in the region are the key to success.

    Morocco specifically has realms of knowledge on the Sub-Saharan countries, with which it has been trading for some time now. Investment has recently sky-rocketed in sectors such as banking, insurance, mobile phones and agriculture. However, this doesn’t mean that opportunities are running out for Spanish companies, quite the opposite: our analysis shows that in Morocco we can find the experience and the communications channels necessary to enter new markets with some guarantees.

    All in all, Spanish businesses need to start looking towards Morocco and Africa, a continent that is only 14 kilometres from our doorstep, but where almost everything is in the making, an endless list of projects and investment opportunities that can be taken on with the support of good advisors and support from specialists in the region.

    ]]>
    0
    <![CDATA[CaixaBank places 1.0 billion euros in senior debt, attracting demand in excess of 2.2 billion]]> https://blog.caixabank.es/?p=23645 2018-01-10T18:00:00.0Z 2018-01-10T18:00:00.0Z <![CDATA[CaixaBank places 1.0 billion euros in senior debt, attracting demand in excess of 2.2 billion]]> Having been the first mover on the Spanish bond markets last week with twin tranches of covered bonds, CaixaBank has now become the first Spanish issuer to place senior preferred debt in 2018. The bank raised one billion euros in said debt, maturing in five years and three months. The price was established at 48 basis points over the midswap rate, with a coupon of 0.75%.

    The issue’s success was evident in demand of 2.2 billion euros, as well as a price just 48 basis points above the midswap. This latest issue marks a new low on the Spanish senior market for recent years, as well as for the CaixaBank senior curve.

    The last issue from CaixaBank in said format came last May, when it placed 1 billion euros with a 7-year maturity, at a price 68 basis points above the midswap.

    Interest from international investors

    CaixaBank, presided over Chairman Jordi Gual and CEO Gonzalo Gortázar, capitalised on positive market conditions to complete this senior debt issue, which will cover forthcoming maturities, with investors demonstrating their confidence in the group’s strengths.

    The issue will have ratings of Baa2 (Stab), BBB (Pos), BBB (Pos) and AL (Stab) from Moody’s, Standard & Poor’s, Fitch and DBRS respectively.

    This issue drew an outstanding response from institutional investors, which placed more than 140 orders on the busiest day of the year for the European primary debt market.

    The banks underwriting the new issue were CaixaBank, Credit Suisse, Deutsche Bank, Société Generale and UBS Investment Bank.

    Institutional investors accounted for 82% of demand. The sizeable issuance volume and the quality of the investors allowed the issuer to lower the initial price of midswap + 60 basis points by 12 bps.

    A week ago, CaixaBank became the first Spanish issuer to resort to the markets in 2018, with the placement of twin tranches of long-term covered bonds, totalling 1.375 billion euros.

    Said issues bolstered CaixaBank’s high-quality liquid assets, which at 30 September stood at 71.581 billion euros, with a Liquidity Coverage Ratio (LCR) of 213%, well above the minimum requirement of 80%.

    ]]>
    Having been the first mover on the Spanish bond markets last week with twin tranches of covered bonds, CaixaBank has now become the first Spanish issuer to place senior preferred debt in 2018. The bank raised one billion euros in said debt, maturing in five years and three months. The price was established at 48 basis points over the midswap rate, with a coupon of 0.75%.

    The issue’s success was evident in demand of 2.2 billion euros, as well as a price just 48 basis points above the midswap. This latest issue marks a new low on the Spanish senior market for recent years, as well as for the CaixaBank senior curve.

    The last issue from CaixaBank in said format came last May, when it placed 1 billion euros with a 7-year maturity, at a price 68 basis points above the midswap.

    Interest from international investors

    CaixaBank, presided over Chairman Jordi Gual and CEO Gonzalo Gortázar, capitalised on positive market conditions to complete this senior debt issue, which will cover forthcoming maturities, with investors demonstrating their confidence in the group’s strengths.

    The issue will have ratings of Baa2 (Stab), BBB (Pos), BBB (Pos) and AL (Stab) from Moody’s, Standard & Poor’s, Fitch and DBRS respectively.

    This issue drew an outstanding response from institutional investors, which placed more than 140 orders on the busiest day of the year for the European primary debt market.

    The banks underwriting the new issue were CaixaBank, Credit Suisse, Deutsche Bank, Société Generale and UBS Investment Bank.

    Institutional investors accounted for 82% of demand. The sizeable issuance volume and the quality of the investors allowed the issuer to lower the initial price of midswap + 60 basis points by 12 bps.

    A week ago, CaixaBank became the first Spanish issuer to resort to the markets in 2018, with the placement of twin tranches of long-term covered bonds, totalling 1.375 billion euros.

    Said issues bolstered CaixaBank’s high-quality liquid assets, which at 30 September stood at 71.581 billion euros, with a Liquidity Coverage Ratio (LCR) of 213%, well above the minimum requirement of 80%.

    ]]>
    0
    <![CDATA[CaixaBank boosts its international banking network with the opening of a branch in Frankfurt]]> https://blog.caixabank.es/?p=23645 2018-01-04T12:30:00.0Z 2018-01-04T12:30:00.0Z <![CDATA[CaixaBank boosts its international banking network with the opening of a branch in Frankfurt]]> CaixaBank has opened its first operational branch in Frankfurt, offering services in the areas of foreign trade, business banking and corporate banking. The Bank has been present in Germany since 2004 through a representative office that has now been transformed into an operational branch to offer financial services directly to businesses.

    The opening will strengthen CaixaBank's support service for customers looking to expand their businesses abroad. Germany is a key country for companies planning to expand in the different European markets and this branch will provide them with direct access to funding, banking and services to develop their activities.

    To bolster its financial services, CaixaBank's operational branch in Frankfurt will have a dedicated team of experts in risk management, regulatory compliance, legal advice and regulatory reporting.

    Germany, a powerful trading partner for Spain and driver of economic growth in Europe

    The German economy has traditionally been an economic engine for Europe and is currently undergoing a period of sustained growth. GDP rose for the seventh consecutive year in 2016, buoyed by strong internal demand, and this pace of growth is expected to continue throughout 2018. Its privileged geographical location makes it the trading hub of Europe.

    Germany is one of Spain's largest trading partners: only France has a higher volume of exports to the Spanish market. Trade between the two nations is booming: to August 2017, Spanish exports of goods to Germany increased by 7.2% and imports were up 6.9% compared to the same period in 2016.

    Germany is one of the main investors in Spanish tourism sector, its investment in the sector in the first half of the year was €2,389 million.

    In addition to reinforcing the service for companies linked to foreign trade and German-Spanish investment, the opening of this new operational branch will enable the Bank headed by Jordi Gual, supported by CEO Gonzalo Gortázar, to increase its share of the German business banking market. The entity's customer portfolio already includes a substantial number of German multinationals from different sectors, profiting from CaixaBank's international banking model: high quality personalised service and customised advice.

    About CaixaBank's international network

    The opening of the Frankfurt branch will expand CaixaBank's international network to 26 establishments in 18 countries. The Bank's network comprises operational branches, representative offices and collaboration agreements with top-level correspondent banks.

    CaixaBank currently has operating offices in Morocco (Casablanca, Tangiers, and Agadir), Poland (Warsaw), United Kingdom (London) and Germany (Frankfurt). Through these branches, CaixaBank offers advice, funding and banking services to Spanish companies operating in these countries in question. It also offers financing for local businesses with commercial ties to Spain or to countries where there is a CaixaBank branch.  

    Further, the Bank has representative offices in China (Peking, Shanghai and Hong Kong), France (Paris), Italy (Milan), Dubai, India (New Delhi), Turkey (Istanbul), Singapore, Egypt (Cairo), Chile (Santiago de Chile), Colombia (Bogota), United States (New York), South Africa (Johannesburg), Peru (Lima), Algeria (Algiers) and Brazil (Sao Paulo).

     

    ]]>
    CaixaBank has opened its first operational branch in Frankfurt, offering services in the areas of foreign trade, business banking and corporate banking. The Bank has been present in Germany since 2004 through a representative office that has now been transformed into an operational branch to offer financial services directly to businesses.

    The opening will strengthen CaixaBank's support service for customers looking to expand their businesses abroad. Germany is a key country for companies planning to expand in the different European markets and this branch will provide them with direct access to funding, banking and services to develop their activities.

    To bolster its financial services, CaixaBank's operational branch in Frankfurt will have a dedicated team of experts in risk management, regulatory compliance, legal advice and regulatory reporting.

    Germany, a powerful trading partner for Spain and driver of economic growth in Europe

    The German economy has traditionally been an economic engine for Europe and is currently undergoing a period of sustained growth. GDP rose for the seventh consecutive year in 2016, buoyed by strong internal demand, and this pace of growth is expected to continue throughout 2018. Its privileged geographical location makes it the trading hub of Europe.

    Germany is one of Spain's largest trading partners: only France has a higher volume of exports to the Spanish market. Trade between the two nations is booming: to August 2017, Spanish exports of goods to Germany increased by 7.2% and imports were up 6.9% compared to the same period in 2016.

    Germany is one of the main investors in Spanish tourism sector, its investment in the sector in the first half of the year was €2,389 million.

    In addition to reinforcing the service for companies linked to foreign trade and German-Spanish investment, the opening of this new operational branch will enable the Bank headed by Jordi Gual, supported by CEO Gonzalo Gortázar, to increase its share of the German business banking market. The entity's customer portfolio already includes a substantial number of German multinationals from different sectors, profiting from CaixaBank's international banking model: high quality personalised service and customised advice.

    About CaixaBank's international network

    The opening of the Frankfurt branch will expand CaixaBank's international network to 26 establishments in 18 countries. The Bank's network comprises operational branches, representative offices and collaboration agreements with top-level correspondent banks.

    CaixaBank currently has operating offices in Morocco (Casablanca, Tangiers, and Agadir), Poland (Warsaw), United Kingdom (London) and Germany (Frankfurt). Through these branches, CaixaBank offers advice, funding and banking services to Spanish companies operating in these countries in question. It also offers financing for local businesses with commercial ties to Spain or to countries where there is a CaixaBank branch.  

    Further, the Bank has representative offices in China (Peking, Shanghai and Hong Kong), France (Paris), Italy (Milan), Dubai, India (New Delhi), Turkey (Istanbul), Singapore, Egypt (Cairo), Chile (Santiago de Chile), Colombia (Bogota), United States (New York), South Africa (Johannesburg), Peru (Lima), Algeria (Algiers) and Brazil (Sao Paulo).

     

    ]]>
    0