<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[4 claves a tener en cuenta para convertirse en autónomo]]> https://blog.caixabank.es/?p=23645 2017-04-21T05:35:04.0Z 2017-04-21T05:35:04.0Z <![CDATA[4 claves a tener en cuenta para convertirse en autónomo]]> 0 <![CDATA[Jordi Gual and Gonzalo Gortázar say BPI establishes CaixaBank as the leading bank in the Iberian Peninsula in terms of assets and customers, with business volume of 564 billion euros]]> https://blog.caixabank.es/?p=23645 2017-04-06T10:00:00.0Z 2017-04-06T10:00:00.0Z <![CDATA[Jordi Gual and Gonzalo Gortázar say BPI establishes CaixaBank as the leading bank in the Iberian Peninsula in terms of assets and customers, with business volume of 564 billion euros]]> The CaixaBank Annual General Meeting today approved the bank’s 2016 management and results. CaixaBank secured support from the majority of shareholders, who backed a number of resolutions proposed by the Board of Directors, including the ratification and appointment of Jordi Gual, José Serna, Koro Usarraga, Alejandro García-Bragado and Natalia Aznárez as directors, and likewise the appointment of Ignacio Garralda. 

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

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

The financial system is underpinning the economic recovery

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

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

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

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

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

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

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

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

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

 Absolute commitment to dividends

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

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

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

AGM

CaixaBank, the best positioned bank in the new climate

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

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

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

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

Entrenched results growth over the last five years

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

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

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

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

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

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

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

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

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

Tributes to Isidro Fainé

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

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

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

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

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

The financial system is underpinning the economic recovery

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

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

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

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

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

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

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

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

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

 Absolute commitment to dividends

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

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

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

AGM

CaixaBank, the best positioned bank in the new climate

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

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

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

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

Entrenched results growth over the last five years

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

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

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

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

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

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

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

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

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

Tributes to Isidro Fainé

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

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

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

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

User experience, innovative products, and emerging technology

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

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

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

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

CaixaBank’s leadership in innovation

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

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

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

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

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

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

User experience, innovative products, and emerging technology

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

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

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

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

CaixaBank’s leadership in innovation

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

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

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

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

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

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

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

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

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

 

A multipurpose space for a multidisciplinary team

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

Three areas of research have been identified:

·         Automobiles: Research into solutions for connected cars.

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

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

 

A space designed for innovation

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

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

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

 

Industry leaders come together to work as a team

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

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

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

Payment Innovation Hub

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

A multipurpose space for a multidisciplinary team

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

Three areas of research have been identified:

·         Automobiles: Research into solutions for connected cars.

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

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

 

A space designed for innovation

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

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

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

 

Industry leaders come together to work as a team

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

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

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

Payment Innovation Hub

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

]]>
0
<![CDATA[Volunteering makes it big at CaixaBank]]> https://blog.caixabank.es/?p=23645 2017-03-17T00:00:00.0Z 2017-03-17T00:00:00.0Z <![CDATA[Volunteering makes it big at CaixaBank]]> Social Week took place between 11th and 19th February throughout Spain. Over these nine days, one in every three employees from CaixaBank, ”la Caixa” Banking Foundation and CriteriaCaixa took part in some of over 5,000 activities that around 1,500 social entities organised in all Spanish provinces. Social Week came to a close on 10th March by celebrating Volunteering Day in 12 cities.

Map of activities developed by employees

 

CaixaBank President, Jordi Gual, maintained that “CaixaBank would not be what it is today if our financial work had not been accompanied by the Foundation. Our entity has inherited the hundred year old reputation of ”la Caixa” and so we are a bank with a social vocation extolling the intrinsic values of quality, trust and commitment to socio-economic development of people and the territory.” For Gual, "CaixaBank's strong social commitment is a unique, unwaiverable trait that is very difficult to imitate."

CaixaBank, with the largest network of branches in Spain (almost 5,000), attains the type of capillarity that, along with its close relationship with customers, puts it in an unbeatable position to detect the most urgent local social needs. This allows it to support small scale social projects that, altogether, have a major effect on alleviating the difficulties of thousands of people. For this reason ”la Caixa” Foundation, through CaixaBank branches, distributes an economic contribution that totalled 44.3 million Euros in 2016, used to boost 13,000 local projects.

Gonzalo Gortázar, CaixaBank Managing Director, stated that “Social Week is a charity initiative carried out thanks to the social vocation at CaixaBank and among its employees who give up their time to charity organisations in their neighbourhoods and villages. Through this initiative, the bank is pointing them in the right direction to get personally involved in supporting people in need." The CaixaBank Managing Director added that “the bank thereby aims to promote stable volunteering through initial contact with this activity, a key part of the banking model backed by CaixaBank, that is upheld by strong social commitment."

In turn, the President of ”la Caixa” Banking Foundation, Isidro Fainé, explained that "a volunteer is a person who wishes to help people in need using all their strength and do this tenaciously and constantly, driven essentially by love for others. This generous dedication is not tied to any obligation or duty. Over 11,000 employees make Social Week possible and they have all my support and admiration. Their example inspires us to continue working on the company's social commitment."

 

 

 

In the words of the ”la Caixa” Banking Foundation's CEO, Jaume Giró, , "I will never get tired of thanking anonymous and selfless volunteers from ”la Caixa”, the best ambassadors for the company's values and social commitment. All employees, individually or collectively, owe a debt of gratitude to these people who spend their spare time helping people most at need. They are the spearhead for constructing a fairer society. Acknowledging and providing incentives for their work draws us into their eagerness."

 

A total of 5,000 activities

 

In addition to these 5,000 activities available in Spain, there are projects involving teams from the CaixaBank International Area located in 18 foreign countries where the bank has a branch. Specifically, 95 volunteering places have been opened up in China (Hong Kong, Beijing, Shanghai), Singapore, Chile, Algeria, France (Paris), Italy (Milan), Egypt, South Africa, USA (New York), Great Britain (London), India, Colombia, Peru, Morocco (Casablanca, Tangier), Poland, Mexico, Austria (Vienna) and Germany (Frankfurt).

Throughout Social Week, the people involved could follow development and publish photos and information using the hashtag #SerVoluntarioSuma.

Acknowledgement for Volunteers: 10th March

All employees that took part in Social Week, as well as the members of ”la Caixa” Volunteering Association could join the Volunteer Rallies that was held on 10th March in 12 Spanish cities simultaneously, promoted by ”la Caixa” Banking Foundation and CaixaBank

These events were a huge party to acknowledge the values characterising these volunteers: teamwork, altruism, responsibility, commitment, respect, empathy, tolerance, among others. They all help to create opportunities for vulnerable persons and make it possible for society to move forward together.

]]>
Social Week took place between 11th and 19th February throughout Spain. Over these nine days, one in every three employees from CaixaBank, ”la Caixa” Banking Foundation and CriteriaCaixa took part in some of over 5,000 activities that around 1,500 social entities organised in all Spanish provinces. Social Week came to a close on 10th March by celebrating Volunteering Day in 12 cities.

Map of activities developed by employees

 

CaixaBank President, Jordi Gual, maintained that “CaixaBank would not be what it is today if our financial work had not been accompanied by the Foundation. Our entity has inherited the hundred year old reputation of ”la Caixa” and so we are a bank with a social vocation extolling the intrinsic values of quality, trust and commitment to socio-economic development of people and the territory.” For Gual, "CaixaBank's strong social commitment is a unique, unwaiverable trait that is very difficult to imitate."

CaixaBank, with the largest network of branches in Spain (almost 5,000), attains the type of capillarity that, along with its close relationship with customers, puts it in an unbeatable position to detect the most urgent local social needs. This allows it to support small scale social projects that, altogether, have a major effect on alleviating the difficulties of thousands of people. For this reason ”la Caixa” Foundation, through CaixaBank branches, distributes an economic contribution that totalled 44.3 million Euros in 2016, used to boost 13,000 local projects.

Gonzalo Gortázar, CaixaBank Managing Director, stated that “Social Week is a charity initiative carried out thanks to the social vocation at CaixaBank and among its employees who give up their time to charity organisations in their neighbourhoods and villages. Through this initiative, the bank is pointing them in the right direction to get personally involved in supporting people in need." The CaixaBank Managing Director added that “the bank thereby aims to promote stable volunteering through initial contact with this activity, a key part of the banking model backed by CaixaBank, that is upheld by strong social commitment."

In turn, the President of ”la Caixa” Banking Foundation, Isidro Fainé, explained that "a volunteer is a person who wishes to help people in need using all their strength and do this tenaciously and constantly, driven essentially by love for others. This generous dedication is not tied to any obligation or duty. Over 11,000 employees make Social Week possible and they have all my support and admiration. Their example inspires us to continue working on the company's social commitment."

 

 

 

In the words of the ”la Caixa” Banking Foundation's CEO, Jaume Giró, , "I will never get tired of thanking anonymous and selfless volunteers from ”la Caixa”, the best ambassadors for the company's values and social commitment. All employees, individually or collectively, owe a debt of gratitude to these people who spend their spare time helping people most at need. They are the spearhead for constructing a fairer society. Acknowledging and providing incentives for their work draws us into their eagerness."

 

A total of 5,000 activities

 

In addition to these 5,000 activities available in Spain, there are projects involving teams from the CaixaBank International Area located in 18 foreign countries where the bank has a branch. Specifically, 95 volunteering places have been opened up in China (Hong Kong, Beijing, Shanghai), Singapore, Chile, Algeria, France (Paris), Italy (Milan), Egypt, South Africa, USA (New York), Great Britain (London), India, Colombia, Peru, Morocco (Casablanca, Tangier), Poland, Mexico, Austria (Vienna) and Germany (Frankfurt).

Throughout Social Week, the people involved could follow development and publish photos and information using the hashtag #SerVoluntarioSuma.

Acknowledgement for Volunteers: 10th March

All employees that took part in Social Week, as well as the members of ”la Caixa” Volunteering Association could join the Volunteer Rallies that was held on 10th March in 12 Spanish cities simultaneously, promoted by ”la Caixa” Banking Foundation and CaixaBank

These events were a huge party to acknowledge the values characterising these volunteers: teamwork, altruism, responsibility, commitment, respect, empathy, tolerance, among others. They all help to create opportunities for vulnerable persons and make it possible for society to move forward together.

]]>
0
<![CDATA[\"Digital transformation. Customer experience”, by Gonzalo Gortázar at IBM Business Connect 2016]]> https://blog.caixabank.es/?p=23645 2017-03-14T00:00:00.0Z 2017-03-14T00:00:00.0Z <![CDATA[\"Digital transformation. Customer experience”, by Gonzalo Gortázar at IBM Business Connect 2016]]> We are currently going through difficult times for the bank as it faces major challenges, beyond the digital revolution

  • Profitability, highly damaged in the financial sector due to the interest rate situation.
  • Changing regulations. During the financial crisis we saw that it was necessary to change our game plan that, eight years later, is still changing. The need to adapt to this changing environment generates difficulties.
  • The sector's reputation, also in tatters throughout the world as a consequence of the financial crisis. This must be restored.

The result is that banks have to juggle their digital transformation (long term) with the need to safeguard their balance sheet (short term).

Digitalisation has to work from two premises: both customers and competitors are changing..

On the one hand, a change is taking place among customers. Mobility makes customers more demanding.

  • CaixaBank has more than 5 million digital customers, representing 39% of total customers. The average percentage in the sector in Spain is 36%.
  • We keep on growing, increasingly so: in 2008, it took us a year to get 100,000 customers; in 2011, a month; and in 2015, it took us an hour. This demonstrates the rising use of mobile phones.
  • Out of all our digital customers, three quarters also go to the branches. Logically, they do this with a different frequency and different expectations but we have asked them about it and they appreciate having an office to go to if need be.

Our competitors are also changing. Traditionally, banks in Spain have attempted to cover all financial needs, from transactional services to investment, financing, investment or protection funds. Nowadays, technology allows new in-comers, with focus points specialising on specific parts of the value chain, from neo-banks that work on transactions (as we have done ourselves in imaginBank) or aggregators, roboadvisers, crowdfunding, etc.


For traditional banks, fintech represents an incentive and an opportunity: we can offer more services and attract more customers. We have to learn how we can improve.


 

 

On CaixaBank's digital strategy. We can talk about three major fields:

  1. Backoffice technology: per a nosaltres, és clau l’ús d’una nova eina: l’smartPC. És una tauleta que permet tota l’operativa i converteix els empleats en “oficines mòbils”. Podem fer operacions que neixen directament digitals i es mantenen digitals. Això suposa que les operacions queden perfectament documentades i s’incentiva l’estalvi de paper.
    • We have 2/3 of our staff working with this type of tablet and over 12 million digital signatures. 88% of our processes have already been digitalised.
    • Digitalisation implies that physical files will disappear making more room to speak to customers.
  2. Improving the customer experience (backoffice): This can be seen in several types of progress.
    • We have launches such as imaginBank, for people that only want a digital relationship with their bank, or consultancy using video conferencing for specialised services.
    • At CaixaBank, the main transformation has taken place inside the office. We have made technology available for consultancy. We would like our stand-out service at CaixaBank to be consultancy because we have over 7,000 employees who are qualified in financial consultancy.
    • The result is an office model, with 45 offices already up and running and a plan to reach 250 by the end of next year.
    • These are offices in large city centres. They are different offices, not dealing in cash or counter services: the focus is on consultancy. More open, airy spaces mean that employees can move around freely. The SmartPC allows them to share screens with customers and encourages transparency. In addition, a SmartPC can offer consultancy both inside the office and on the move: we are changing how we operate.
    • At CaixaBank, we now have the ReadytoBuy tool allowing advisers to focus on consultancy and defining the offer. Customers sign and check through the documentation in their own time and file it at home.
  3. Better service with greater added value: technology helps us stand out and we have to get it working for consultancy:
    1. For example, we have applied technology to advice concerning retirement. This is a process where consultancy is not easy: it is long term, there are many alternatives, you have to get the customer profile right, you have to consider taxation aspects... Consultancy using technology means we can run simulations that customers often want to do with an adviser, although they can also run them on their own. Simulation tools are also applied to private banking.
    2. We have created a very simple visual service that helps someone understand where their costs lie and how they relate to their income. This is a personal finance management service that some fintech provides but that banks did not traditionally offer. Now, My CaixaBank Finances has 2.5 million customers.
      • Applying technology such as big data helps us adapt services to customer needs more successfully. We have been been working with a single datapool for some time and now it is important to use this data to give the customer more value. For example, big data lets us improve our scoring system to increase the number of customers with pre-awarded credit. It is easy to give money to customers with a regular pay cheque but technology allows us to offer customers big data so that, although they are not on a payroll, this gives them access to credit thanks to their financial solvency. For example, we can see this in the immediate one-click loan data with production this year of 650 million, 88% more than 2015. In addition, we can come up with car insurance for customers that costs less and grows significantly because these customers have a very low incident rate.
    3. Regarding application of cognitive technology, IBM Watson en Comerç Exterior is one example of its use. The 85 foreign trade specialists can offer better service and in the coming years, we will see many applications.

This innovation strategy does not revolve entirely around money or isolated ideas, but an innovation culture from which it is possible to generate processes that are bringing about change. CaixaBank has a long history of success going back to 1966 when we set up the first teleprocess in Spain using an IBM360. IBM was also present at other milestones such as installing the first PCs in offices in 1984.

CaixaBank's international awards acknowledge our capacity for innovation.

We always need a team to make a project a success but this has to go hand in hand with the team. It is important that it is a unit. Transformation cannot just involve one part of the entity. Customers use all channels. Although there is a cutting edge, transformation involves everyone and the responsibility is mine.

]]>
We are currently going through difficult times for the bank as it faces major challenges, beyond the digital revolution

  • Profitability, highly damaged in the financial sector due to the interest rate situation.
  • Changing regulations. During the financial crisis we saw that it was necessary to change our game plan that, eight years later, is still changing. The need to adapt to this changing environment generates difficulties.
  • The sector's reputation, also in tatters throughout the world as a consequence of the financial crisis. This must be restored.

The result is that banks have to juggle their digital transformation (long term) with the need to safeguard their balance sheet (short term).

Digitalisation has to work from two premises: both customers and competitors are changing..

On the one hand, a change is taking place among customers. Mobility makes customers more demanding.

  • CaixaBank has more than 5 million digital customers, representing 39% of total customers. The average percentage in the sector in Spain is 36%.
  • We keep on growing, increasingly so: in 2008, it took us a year to get 100,000 customers; in 2011, a month; and in 2015, it took us an hour. This demonstrates the rising use of mobile phones.
  • Out of all our digital customers, three quarters also go to the branches. Logically, they do this with a different frequency and different expectations but we have asked them about it and they appreciate having an office to go to if need be.

Our competitors are also changing. Traditionally, banks in Spain have attempted to cover all financial needs, from transactional services to investment, financing, investment or protection funds. Nowadays, technology allows new in-comers, with focus points specialising on specific parts of the value chain, from neo-banks that work on transactions (as we have done ourselves in imaginBank) or aggregators, roboadvisers, crowdfunding, etc.


For traditional banks, fintech represents an incentive and an opportunity: we can offer more services and attract more customers. We have to learn how we can improve.


 

 

On CaixaBank's digital strategy. We can talk about three major fields:

  1. Backoffice technology: per a nosaltres, és clau l’ús d’una nova eina: l’smartPC. És una tauleta que permet tota l’operativa i converteix els empleats en “oficines mòbils”. Podem fer operacions que neixen directament digitals i es mantenen digitals. Això suposa que les operacions queden perfectament documentades i s’incentiva l’estalvi de paper.
    • We have 2/3 of our staff working with this type of tablet and over 12 million digital signatures. 88% of our processes have already been digitalised.
    • Digitalisation implies that physical files will disappear making more room to speak to customers.
  2. Improving the customer experience (backoffice): This can be seen in several types of progress.
    • We have launches such as imaginBank, for people that only want a digital relationship with their bank, or consultancy using video conferencing for specialised services.
    • At CaixaBank, the main transformation has taken place inside the office. We have made technology available for consultancy. We would like our stand-out service at CaixaBank to be consultancy because we have over 7,000 employees who are qualified in financial consultancy.
    • The result is an office model, with 45 offices already up and running and a plan to reach 250 by the end of next year.
    • These are offices in large city centres. They are different offices, not dealing in cash or counter services: the focus is on consultancy. More open, airy spaces mean that employees can move around freely. The SmartPC allows them to share screens with customers and encourages transparency. In addition, a SmartPC can offer consultancy both inside the office and on the move: we are changing how we operate.
    • At CaixaBank, we now have the ReadytoBuy tool allowing advisers to focus on consultancy and defining the offer. Customers sign and check through the documentation in their own time and file it at home.
  3. Better service with greater added value: technology helps us stand out and we have to get it working for consultancy:
    1. For example, we have applied technology to advice concerning retirement. This is a process where consultancy is not easy: it is long term, there are many alternatives, you have to get the customer profile right, you have to consider taxation aspects... Consultancy using technology means we can run simulations that customers often want to do with an adviser, although they can also run them on their own. Simulation tools are also applied to private banking.
    2. We have created a very simple visual service that helps someone understand where their costs lie and how they relate to their income. This is a personal finance management service that some fintech provides but that banks did not traditionally offer. Now, My CaixaBank Finances has 2.5 million customers.
      • Applying technology such as big data helps us adapt services to customer needs more successfully. We have been been working with a single datapool for some time and now it is important to use this data to give the customer more value. For example, big data lets us improve our scoring system to increase the number of customers with pre-awarded credit. It is easy to give money to customers with a regular pay cheque but technology allows us to offer customers big data so that, although they are not on a payroll, this gives them access to credit thanks to their financial solvency. For example, we can see this in the immediate one-click loan data with production this year of 650 million, 88% more than 2015. In addition, we can come up with car insurance for customers that costs less and grows significantly because these customers have a very low incident rate.
    3. Regarding application of cognitive technology, IBM Watson en Comerç Exterior is one example of its use. The 85 foreign trade specialists can offer better service and in the coming years, we will see many applications.

This innovation strategy does not revolve entirely around money or isolated ideas, but an innovation culture from which it is possible to generate processes that are bringing about change. CaixaBank has a long history of success going back to 1966 when we set up the first teleprocess in Spain using an IBM360. IBM was also present at other milestones such as installing the first PCs in offices in 1984.

CaixaBank's international awards acknowledge our capacity for innovation.

We always need a team to make a project a success but this has to go hand in hand with the team. It is important that it is a unit. Transformation cannot just involve one part of the entity. Customers use all channels. Although there is a cutting edge, transformation involves everyone and the responsibility is mine.

]]>
0
<![CDATA[CaixaBank Research: Investment in infrastructure]]> https://blog.caixabank.es/?p=23645 2017-03-14T00:00:00.0Z 2017-03-14T00:00:00.0Z <![CDATA[CaixaBank Research: Investment in infrastructure]]> 0 <![CDATA[Sevilla Tower: icon of economic and cultural dynamism in Andalusia]]> https://blog.caixabank.es/?p=23645 2017-03-14T00:00:00.0Z 2017-03-14T00:00:00.0Z <![CDATA[Sevilla Tower: icon of economic and cultural dynamism in Andalusia]]> CaixaBank will complete a 305 million Euro investment in the Sevilla Tower (www.torre-sevilla.com) architectural ensemble to make it an icon for Andalusia's new economic and cultural dynamism. The financial entity has approved spending 20 million to set up the new Sevilla Tower shopping center. Opening this shopping center will turn Sevilla Tower into a living space, all possible thanks to its different business, commercial and cultural uses.

Although the future shopping center structure has already been built in terms of the podiums, the 20 million Euro investment will be used to fit out the different indoor spaces currently being built.

 

A whole new shopping experience in Andalusia

The Sevilla Tower shopping center will come up with a whole new shopping experience in Andalusia, an unbelievable model in terms of offer and format that will complement what is already on offer in the city.

Prestigious flagships will be divided between the two podiums –with three and four floors respectively– to create an open air shopping space, adapting the American model of an outdoor shopping mall. This adaptation includes a grand central avenue, like a “High Street” to bring back the traditional concept of a shaded street, with squares at either end. The premises are divided into arcades giving a shopping experience where stores, restaurants and leisure areas come together as a complete leisure offer.

The architecture studio Broadway Malya, winner of international awards for many development, design and architecture projects, are the brains behind the shopping center. Consultants Knight Frank and LyC, are in charge of marketing.

A singular premium hotel run by the Hotusa Group

If the shopping center is well under-way, the Sevilla Tower hotel project is right behind it. Eurostars Hotels Company, the Hotusa Group hotel area, that currently owns 150 hotels in 18 countries, will run this hotel as singular, premium accommodation that will complement the existing offer in the Andalusian capital.

CaixaBank, through Puerto Triana, is currently working to adapt the top 13 floors –a total of around 17,000 sqm – of Sevilla Tower to turn them into the most emblematic accommodation in the Andalusian capital.

 

Sevilla Tower, focus point of business dynamism in Andalusia

Sevilla Tower already has ten floors occupied by companies distributed as follows: Puerto Triana, Sumasa and Building Center, CaixaBank subsidiaries, occupy the first floor, covering 400 square metres; Active Business & Technology occupies the fourth floor, with 200 square metres; Optima Research & Development, world leader in gaming software and online gambling, also occupies part of the fourth floor, with 630 square metres; Orange España occupies the fifth floor, with 1,400 square metres; the engineering firm Ayesa occupies floors 8, 9, 10 and 11, with 5,400 square metres; the consultancy firm Deloitte occupies floors 12 and 13 with 2,600 square metres; and CaixaBank-Banking Services occupies the second floor, with 1,000 square metres.

This premium office space in Seville is being marketed by Servihabitat, top service provider in managing property and financial assets and exclusive administrator for the CaixaBank Group property assets.

In addition, Sevilla Tower boasts a car park managed by Saba with over 2,800 spaces on three floors, capable of absorbing not only the flow of workers and visitors to the architectural ensemble but also a large proportion of the vehicles owned by 16,000 employees that drive to work every day in the Cartuja Science and Technology Park.

Adapting spaces to companies of different sizes in different fields, efficiency in terms of connectivity for the Isla de la Cartuja with other business nodes in Andalusia and the rest of Spain or the ahigh degree of comfort and sustainability of the building are some of the features that make the Sevilla Tower the flagship of the premium office market in Andalusia.

Promoting culture, citizen initiatives and the environment

The Sevilla Tower architectural ensemble is completed with the recently opened CaixaForum, ”la Caixa” Foundation cultural centre in Andalusia, working to stimulate the cultural offer in Seville and bring together social initiatives that might interest citizens. The eye-catching building offers over 8,000 sqm, representing an additional investment of around 20 million and is scheduled to open during the first half of 2017.

If ”la Caixa” Group's commitment to culture and society comes to life in CaixaForum Seville, the new river-walk along the banks of the Guadalquivir demonstrates CaixaBank's special interest in working on the Isla de la Cartuja respectfully in an attempt to improve such an emblematic space in Seville. Developing the riverbank has involved adapting a 40,000 sqm green zone especially designed for pedestrians and cyclists that will form a large river park, providing the city with welcome breathing space.

A new metal trellis has been set up, 300 m long, featuring bougainvillea and begonias. This work by Vazquez Consuegra also houses the new facilities for the Rowing Centre all following a strict sustainability code.

The sum of the investments made by CaixaBank in the Sevilla Tower architectural ensemble and by ”la Caixa” Banking Foundation in CaixaForum Seville, will rise to a grand total of around 325 million Euros. The skyscraper alone will provide jobs for more than 3,300 persons once it attains full occupation (including 2,350 employees from the different companies that will be located in the Sevilla Tower and a forecast of 1,000 persons directly employed in the future shopping center –these figures do not include the hotel).

]]>
CaixaBank will complete a 305 million Euro investment in the Sevilla Tower (www.torre-sevilla.com) architectural ensemble to make it an icon for Andalusia's new economic and cultural dynamism. The financial entity has approved spending 20 million to set up the new Sevilla Tower shopping center. Opening this shopping center will turn Sevilla Tower into a living space, all possible thanks to its different business, commercial and cultural uses.

Although the future shopping center structure has already been built in terms of the podiums, the 20 million Euro investment will be used to fit out the different indoor spaces currently being built.

 

A whole new shopping experience in Andalusia

The Sevilla Tower shopping center will come up with a whole new shopping experience in Andalusia, an unbelievable model in terms of offer and format that will complement what is already on offer in the city.

Prestigious flagships will be divided between the two podiums –with three and four floors respectively– to create an open air shopping space, adapting the American model of an outdoor shopping mall. This adaptation includes a grand central avenue, like a “High Street” to bring back the traditional concept of a shaded street, with squares at either end. The premises are divided into arcades giving a shopping experience where stores, restaurants and leisure areas come together as a complete leisure offer.

The architecture studio Broadway Malya, winner of international awards for many development, design and architecture projects, are the brains behind the shopping center. Consultants Knight Frank and LyC, are in charge of marketing.

A singular premium hotel run by the Hotusa Group

If the shopping center is well under-way, the Sevilla Tower hotel project is right behind it. Eurostars Hotels Company, the Hotusa Group hotel area, that currently owns 150 hotels in 18 countries, will run this hotel as singular, premium accommodation that will complement the existing offer in the Andalusian capital.

CaixaBank, through Puerto Triana, is currently working to adapt the top 13 floors –a total of around 17,000 sqm – of Sevilla Tower to turn them into the most emblematic accommodation in the Andalusian capital.

 

Sevilla Tower, focus point of business dynamism in Andalusia

Sevilla Tower already has ten floors occupied by companies distributed as follows: Puerto Triana, Sumasa and Building Center, CaixaBank subsidiaries, occupy the first floor, covering 400 square metres; Active Business & Technology occupies the fourth floor, with 200 square metres; Optima Research & Development, world leader in gaming software and online gambling, also occupies part of the fourth floor, with 630 square metres; Orange España occupies the fifth floor, with 1,400 square metres; the engineering firm Ayesa occupies floors 8, 9, 10 and 11, with 5,400 square metres; the consultancy firm Deloitte occupies floors 12 and 13 with 2,600 square metres; and CaixaBank-Banking Services occupies the second floor, with 1,000 square metres.

This premium office space in Seville is being marketed by Servihabitat, top service provider in managing property and financial assets and exclusive administrator for the CaixaBank Group property assets.

In addition, Sevilla Tower boasts a car park managed by Saba with over 2,800 spaces on three floors, capable of absorbing not only the flow of workers and visitors to the architectural ensemble but also a large proportion of the vehicles owned by 16,000 employees that drive to work every day in the Cartuja Science and Technology Park.

Adapting spaces to companies of different sizes in different fields, efficiency in terms of connectivity for the Isla de la Cartuja with other business nodes in Andalusia and the rest of Spain or the ahigh degree of comfort and sustainability of the building are some of the features that make the Sevilla Tower the flagship of the premium office market in Andalusia.

Promoting culture, citizen initiatives and the environment

The Sevilla Tower architectural ensemble is completed with the recently opened CaixaForum, ”la Caixa” Foundation cultural centre in Andalusia, working to stimulate the cultural offer in Seville and bring together social initiatives that might interest citizens. The eye-catching building offers over 8,000 sqm, representing an additional investment of around 20 million and is scheduled to open during the first half of 2017.

If ”la Caixa” Group's commitment to culture and society comes to life in CaixaForum Seville, the new river-walk along the banks of the Guadalquivir demonstrates CaixaBank's special interest in working on the Isla de la Cartuja respectfully in an attempt to improve such an emblematic space in Seville. Developing the riverbank has involved adapting a 40,000 sqm green zone especially designed for pedestrians and cyclists that will form a large river park, providing the city with welcome breathing space.

A new metal trellis has been set up, 300 m long, featuring bougainvillea and begonias. This work by Vazquez Consuegra also houses the new facilities for the Rowing Centre all following a strict sustainability code.

The sum of the investments made by CaixaBank in the Sevilla Tower architectural ensemble and by ”la Caixa” Banking Foundation in CaixaForum Seville, will rise to a grand total of around 325 million Euros. The skyscraper alone will provide jobs for more than 3,300 persons once it attains full occupation (including 2,350 employees from the different companies that will be located in the Sevilla Tower and a forecast of 1,000 persons directly employed in the future shopping center –these figures do not include the hotel).

]]>
0
<![CDATA[Euromoney selects CaixaBank as the 2017 best private banking operator in Spain, for the third consecutive year]]> https://blog.caixabank.es/?p=23645 2017-02-09T00:00:00.0Z 2017-02-09T00:00:00.0Z <![CDATA[Euromoney selects CaixaBank as the 2017 best private banking operator in Spain, for the third consecutive year]]> CaixaBank, the leading bank in Spain by market share, has been acknowledged by Euromoney as Spain's best private banking operator of 2017, following the Private Banking Survey 2017. The accolade, which CaixaBank wins for the third consecutive year, comes after a survey was conducted by Euromoney among financial institutions, high-net-worth wealth managers and family offices around the world, who identified their favourite private banking operators based on service quality and their business models.

As well as securing the award for best private banking operator, CaixaBank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, was honoured by the British magazine in a further nine categories, three more than in 2016. The bank swept the top accolades for: specialised services for super affluent clients, net-worth-specific services, asset management, philanthropic advice, socially responsible and social impact investment, innovative technology: back office systems, family office services, asset analysis and management, and succession planning and trusts.

CaixaBank Private Banking manages 18.10% more assets than three years ago

CaixaBank Private Banking, which specialises in managing wealth in excess of half a million euros, has secured growth of 18.10% in assets under management over the last three years, from €50.4 billion managed in 2014 to €59.525 billion at present.

The number of clients served by CaixaBank Private Banking has also risen during these three years. From a total of 50,085 clients in 2014 to 57,281 at year-end 2016, meaning growth of 14.36%. Furthermore, based on the regulatory directives established by the EU, the number of consultancy clients (those signing consultancy contracts and suitability tests) has grown 22.57% over the last three years, rising from 41,921 clients in 2014 to 51,381 in 2016.

The bank has also seen rapid growth in the number of high-net-worth clients served over the three years that it has won this top accolade, rising from 646 clients in 2014 to 829 in 2016, representing an increase of 28.33%. Clients in the private banking segment currently have total funds of €8.922 billion.

These figures bear out just how well the personalised private banking consultancy model has been received. The key behind CaixaBank's Private Banking's exceptional client relations are its consultants, all of whom are highly qualified and experienced specialists, and work in close partnership with the branch network. The Private Banking managers centre their financial planning on each client's requirements, designing investment strategies suited to their specific profile. The current team is comprised of more than 500 managers, with 44 exclusive branches across Spain.

Winning the Euromoney prize for the third consecutive year confirms the bank's standing in the private banking segment, while endorsing its management model inspired by 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.

It has a readership of over 145,000, including leading global figures from the worlds of finance, business, and government.

]]>
CaixaBank, the leading bank in Spain by market share, has been acknowledged by Euromoney as Spain's best private banking operator of 2017, following the Private Banking Survey 2017. The accolade, which CaixaBank wins for the third consecutive year, comes after a survey was conducted by Euromoney among financial institutions, high-net-worth wealth managers and family offices around the world, who identified their favourite private banking operators based on service quality and their business models.

As well as securing the award for best private banking operator, CaixaBank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, was honoured by the British magazine in a further nine categories, three more than in 2016. The bank swept the top accolades for: specialised services for super affluent clients, net-worth-specific services, asset management, philanthropic advice, socially responsible and social impact investment, innovative technology: back office systems, family office services, asset analysis and management, and succession planning and trusts.

CaixaBank Private Banking manages 18.10% more assets than three years ago

CaixaBank Private Banking, which specialises in managing wealth in excess of half a million euros, has secured growth of 18.10% in assets under management over the last three years, from €50.4 billion managed in 2014 to €59.525 billion at present.

The number of clients served by CaixaBank Private Banking has also risen during these three years. From a total of 50,085 clients in 2014 to 57,281 at year-end 2016, meaning growth of 14.36%. Furthermore, based on the regulatory directives established by the EU, the number of consultancy clients (those signing consultancy contracts and suitability tests) has grown 22.57% over the last three years, rising from 41,921 clients in 2014 to 51,381 in 2016.

The bank has also seen rapid growth in the number of high-net-worth clients served over the three years that it has won this top accolade, rising from 646 clients in 2014 to 829 in 2016, representing an increase of 28.33%. Clients in the private banking segment currently have total funds of €8.922 billion.

These figures bear out just how well the personalised private banking consultancy model has been received. The key behind CaixaBank's Private Banking's exceptional client relations are its consultants, all of whom are highly qualified and experienced specialists, and work in close partnership with the branch network. The Private Banking managers centre their financial planning on each client's requirements, designing investment strategies suited to their specific profile. The current team is comprised of more than 500 managers, with 44 exclusive branches across Spain.

Winning the Euromoney prize for the third consecutive year confirms the bank's standing in the private banking segment, while endorsing its management model inspired by 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.

It has a readership of over 145,000, including leading global figures from the worlds of finance, business, and government.

]]>
0
<![CDATA[CaixaBank leads the Iberian market after securing 84.51% of BPI capital]]> https://blog.caixabank.es/?p=23645 2017-02-08T00:00:00.0Z 2017-02-08T00:00:00.0Z <![CDATA[CaixaBank leads the Iberian market after securing 84.51% of BPI capital]]> CaixaBank, the leading financial institution in the Spanish market, has established itself as the foremost operator in the Iberian market, after securing 84.51% of BPI capital following conclusion of the tender offer submitted on 16 January, thus giving it control over the Portuguese bank. The two banks together have a business volume of 564,262 million euros (credit and customer funds), and will have a combined market share in the Iberian Peninsula of over 20% in long-term savings products (insurance and pensions), 18% in investment funds, 14% in credit and 13% in deposits.

The operation required an outlay of 644.52 million euros. CaixaBank will now be able to implement a revenue and cost synergies plan worth around 120 million euros, seeking to drive efficiency improvements at BPI.

"We thank the shareholders who accepted our offer, and welcome those who join us in what promises to be an exciting new era for BPI, which is a solid and well-managed bank. We will now be able to combine the best of both cultures in what will be a mutually enriching experience", said CaixaBank Chairman Jordi Gual

The CaixaBank CEO, Gonzalo Gortázar, added that "this operation confirms CaixaBank's commitment to the Portuguese market, the recovery of which is grounded on solid foundations, such as growing competitiveness and improving confidence among international investors". "Portugal is unquestionably a country with a great future, and one where we want to be an active player. With CaixaBank's support, BPI will continue its successful project speeding up its growth and improving its ability to provide services and financing to households and businesses, and reaffirms itself as a key operator in the Portuguese financial system".

The proforma impact of the operation on the fully-loaded CET1 capital, according to internal preliminary estimates prior to costs being allocated to books, will be 116 basis points, putting CaixaBank's ratio above 11% (11.2%), after CaixaBank made a treasury stock placement in 2016 in order to absorb the impact on capital had by the operation.

Proposed substitution of directors

At the first BPI Board of Directors meeting following completion of the takeover bid, notice was provided by Artur Santos Silva, Chairman of the Board; Fernando Ulrich, Chairman of the Executive Committee (CEO); and Maria Celeste Hagatong and Manuel Ferreira da Silva, members of the Board, stating their intention not to continue in their current positions when BPI's corporate bodies are next renewed, scheduled for the BPI AGM on 26 April.

Having heard their decisions, CaixaBank, as majority shareholder of Banco BPI, notified the Board of its intention to make the following proposals at the Annual General Meeting, subject to the required authorisations being granted by supervisory authorities:

  • The appointment of Artur Santos Silva as Honorary Chairman of Banco BPI and Chairman of a new Board committee on corporate social responsibility.

  • The election of a new Board of Directors, comprised of: Fernando Ulrich, Chairman; Pablo Forero, Vice-Chairman; António Lobo Xavier, Vice-Chairman; Alexandre Lucena e Vale, António Farinha de Morais, Carla Bambulo, Francisco Manuel Barbeira, Gonzalo Gortázar, Ignacio Álvarez-Rendueles, João Oliveira Costa, José Pena do Amaral, Javier Pano, Juan Antonio Alcaraz, Juan Ramón Fuertes, Lluís Vendrell, Pedro Barreto, Tomás Jervell and Vicente Tardio.The Board composition will be finalized in a definitive proposal that will be presented to the Annual General Meeting when opportune.

Once the new Board of Directors has been appointed, CaixaBank stated its intention to propose the following composition for the Executive Committee, which will be subject to authorisations from supervisory bodies:

  • Pablo Forero (Chairman of the Executive Committee, CEO), José Pena do Amaral, Pedro Barreto, João Oliveira Costa, Alexandre Lucena e Vale, António Farinha de Morais, Francisco Manuel Barbeira, Ignacio Álvarez-Rendueles and Juan Ramón Fuertes.

 

Thanks to Board members for their dedication

The Board conveyed its sincere gratitude to all members standing down from their positions, Armando Leite de Pinho, Carlos Moreira da Silva and Mário Leite da Silva, underscoring their influential role behind BPI's development and growth. The Board especially emphasised the inestimable contributions of Maria Celeste Hagatong and Manuel Ferreira da Silva, who have sat on the Executive Committee for 18 and 16 years respectively.

The Board of Directors also expressed its acknowledgement and gratitude to Artur Santos Silva, for the vision, initiative, and determination with which he founded Sociedad Portuguesa de Inversiones (SPI) in 1981, and BPI in 1985, the first private bank to be established in Portugal following the nationalisations of 1975. It further applauded the independence, integrity and consistency with which he has overseen the bank, establishing the same as a leading institution in Portugal, and later in Angola via BFA. The Board will be proud to benefit from Artur Santos Silva's valuable insight as Honorary Chairman.

The Board is also grateful to Fernando Ulrich, who has been proposed as the new Chairman, for his outstanding contribution over more than 34 years to ensure BPI's consolidation, prestige and results generation, first as a member of the SPI and BPI Boards, later as Vice-Chairman of the Board, and over the last 13 years as Chairman of the Banco BPI Executive Committee and Chairman of the BFA Board of Directors. The Board in particular acknowledges the influential role played by Fernando Ulrich and the executive team during the most challenging years of the financial crisis, which began in 2008, seeing Banco BPI distinguish itself in the Portuguese financial system as a solid, credible and socially responsible institution.

Pablo Forero, who will be proposed as the new Chairman of the Executive Committee (CEO), is currently General Manager at CaixaBank. Forero joined CaixaBank in July 2009 as Director of Asset Management. Two years later he was appointed Deputy General Manager of Capital Market and Treasury, and was named a member of the CaixaBank Management Committee. In 2013 he took the post of Chief Risks Officer, which he held until December 2016. Pablo Forero has extensive international experience, including eleven years working in London as a director at JP Morgan Asset Management. He also has a track record in major mergers, having been involved in the Chase-JP Morgan operation. Before moving to London he was Head of Asset Management at JP Morgan Investment Management in Madrid. Prior to that he worked at Manufacturers Hanover Trust and Arthur Andersen.

]]>
CaixaBank, the leading financial institution in the Spanish market, has established itself as the foremost operator in the Iberian market, after securing 84.51% of BPI capital following conclusion of the tender offer submitted on 16 January, thus giving it control over the Portuguese bank. The two banks together have a business volume of 564,262 million euros (credit and customer funds), and will have a combined market share in the Iberian Peninsula of over 20% in long-term savings products (insurance and pensions), 18% in investment funds, 14% in credit and 13% in deposits.

The operation required an outlay of 644.52 million euros. CaixaBank will now be able to implement a revenue and cost synergies plan worth around 120 million euros, seeking to drive efficiency improvements at BPI.

"We thank the shareholders who accepted our offer, and welcome those who join us in what promises to be an exciting new era for BPI, which is a solid and well-managed bank. We will now be able to combine the best of both cultures in what will be a mutually enriching experience", said CaixaBank Chairman Jordi Gual

The CaixaBank CEO, Gonzalo Gortázar, added that "this operation confirms CaixaBank's commitment to the Portuguese market, the recovery of which is grounded on solid foundations, such as growing competitiveness and improving confidence among international investors". "Portugal is unquestionably a country with a great future, and one where we want to be an active player. With CaixaBank's support, BPI will continue its successful project speeding up its growth and improving its ability to provide services and financing to households and businesses, and reaffirms itself as a key operator in the Portuguese financial system".

The proforma impact of the operation on the fully-loaded CET1 capital, according to internal preliminary estimates prior to costs being allocated to books, will be 116 basis points, putting CaixaBank's ratio above 11% (11.2%), after CaixaBank made a treasury stock placement in 2016 in order to absorb the impact on capital had by the operation.

Proposed substitution of directors

At the first BPI Board of Directors meeting following completion of the takeover bid, notice was provided by Artur Santos Silva, Chairman of the Board; Fernando Ulrich, Chairman of the Executive Committee (CEO); and Maria Celeste Hagatong and Manuel Ferreira da Silva, members of the Board, stating their intention not to continue in their current positions when BPI's corporate bodies are next renewed, scheduled for the BPI AGM on 26 April.

Having heard their decisions, CaixaBank, as majority shareholder of Banco BPI, notified the Board of its intention to make the following proposals at the Annual General Meeting, subject to the required authorisations being granted by supervisory authorities:

  • The appointment of Artur Santos Silva as Honorary Chairman of Banco BPI and Chairman of a new Board committee on corporate social responsibility.

  • The election of a new Board of Directors, comprised of: Fernando Ulrich, Chairman; Pablo Forero, Vice-Chairman; António Lobo Xavier, Vice-Chairman; Alexandre Lucena e Vale, António Farinha de Morais, Carla Bambulo, Francisco Manuel Barbeira, Gonzalo Gortázar, Ignacio Álvarez-Rendueles, João Oliveira Costa, José Pena do Amaral, Javier Pano, Juan Antonio Alcaraz, Juan Ramón Fuertes, Lluís Vendrell, Pedro Barreto, Tomás Jervell and Vicente Tardio.The Board composition will be finalized in a definitive proposal that will be presented to the Annual General Meeting when opportune.

Once the new Board of Directors has been appointed, CaixaBank stated its intention to propose the following composition for the Executive Committee, which will be subject to authorisations from supervisory bodies:

  • Pablo Forero (Chairman of the Executive Committee, CEO), José Pena do Amaral, Pedro Barreto, João Oliveira Costa, Alexandre Lucena e Vale, António Farinha de Morais, Francisco Manuel Barbeira, Ignacio Álvarez-Rendueles and Juan Ramón Fuertes.

 

Thanks to Board members for their dedication

The Board conveyed its sincere gratitude to all members standing down from their positions, Armando Leite de Pinho, Carlos Moreira da Silva and Mário Leite da Silva, underscoring their influential role behind BPI's development and growth. The Board especially emphasised the inestimable contributions of Maria Celeste Hagatong and Manuel Ferreira da Silva, who have sat on the Executive Committee for 18 and 16 years respectively.

The Board of Directors also expressed its acknowledgement and gratitude to Artur Santos Silva, for the vision, initiative, and determination with which he founded Sociedad Portuguesa de Inversiones (SPI) in 1981, and BPI in 1985, the first private bank to be established in Portugal following the nationalisations of 1975. It further applauded the independence, integrity and consistency with which he has overseen the bank, establishing the same as a leading institution in Portugal, and later in Angola via BFA. The Board will be proud to benefit from Artur Santos Silva's valuable insight as Honorary Chairman.

The Board is also grateful to Fernando Ulrich, who has been proposed as the new Chairman, for his outstanding contribution over more than 34 years to ensure BPI's consolidation, prestige and results generation, first as a member of the SPI and BPI Boards, later as Vice-Chairman of the Board, and over the last 13 years as Chairman of the Banco BPI Executive Committee and Chairman of the BFA Board of Directors. The Board in particular acknowledges the influential role played by Fernando Ulrich and the executive team during the most challenging years of the financial crisis, which began in 2008, seeing Banco BPI distinguish itself in the Portuguese financial system as a solid, credible and socially responsible institution.

Pablo Forero, who will be proposed as the new Chairman of the Executive Committee (CEO), is currently General Manager at CaixaBank. Forero joined CaixaBank in July 2009 as Director of Asset Management. Two years later he was appointed Deputy General Manager of Capital Market and Treasury, and was named a member of the CaixaBank Management Committee. In 2013 he took the post of Chief Risks Officer, which he held until December 2016. Pablo Forero has extensive international experience, including eleven years working in London as a director at JP Morgan Asset Management. He also has a track record in major mergers, having been involved in the Chase-JP Morgan operation. Before moving to London he was Head of Asset Management at JP Morgan Investment Management in Madrid. Prior to that he worked at Manufacturers Hanover Trust and Arthur Andersen.

]]>
0