<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[La inversión sostenible y responsable, la mejor decisión posible]]> https://blog.caixabank.es/?p=23645 2020-01-22T11:56:29.0Z 2020-01-22T11:56:29.0Z <![CDATA[La inversión sostenible y responsable, la mejor decisión posible]]> 0 <![CDATA[CaixaBank features on the Bloomberg Gender-Equality Index for its commitment to diversity and transparency]]> https://blog.caixabank.es/?p=23645 2020-01-21T00:00:00.0Z 2020-01-21T00:00:00.0Z <![CDATA[CaixaBank features on the Bloomberg Gender-Equality Index for its commitment to diversity and transparency]]> For the second year in a row, CaixaBank has been included in the annual Bloomberg Gender-Equality Index (GEI), which recognises companies from all over the world that are most committed to gender equality, through their policies, and transparency in disseminating their gender-related programmes and data.

The GEI is the benchmark index in this field, and measures gender equality through five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and pro-women brand. This year’s index features 325 companies from 42 countries , representing 11 industry sectors and a market capitalisation of $12 trillion. A total of 6 thousand businesses from 84 countries was analysed. The index also demonstrates a notable increase from the 230 businesses featured last year, with countries such as Russia, the Philippines, New Zealand, Norway and Poland included for the first time this year. Spain is the fourth most-represented country on the index, after the United States, Canada and Great Britain.

Diversity, meritocracy, equal opportunities and talent recognition are some of the pillars of CaixaBank's corporate culture. CaixaBank is committed to operate as a pacesetter for its employees, promoting inclusion and participation and supporting projects that promote equality, both within the company and across the whole of society. With 41.2% of women in managerial positions, CaixaBank is publicly committed to reaching 43% by 2021;its Board of Directors is formed of 37.5% women, one of the highest percentages in the sector.

The Bloomberg GEI includes valuable measurements assessing CaixaBank’s employee career progression plans and its diversity and inclusion strategy , as well as the company's commitment to the community.

The index also provides a portrait of key steps that are being taken by global businesses to bridge the gender gap. For example, 71% of businesses have a strategy for recruiting women, 33% have programmes for women to return to work after time off, and 44% of promotions last year were received by women.

To achieve a more inclusive professional environment, 49% of businesses offer allowances for childcare, 36% offer allowances for looking after the elderly, and 88% offer flexible working hours. With respect to the community, 48% of companies have designed diversity programmes for suppliers, which include businesses led by women, 59% have launched products aimed at women that help to achieve gender equality, and 64% donate to non-profit organisations whose main mission is to support gender equality in the workplace.

Wengage, CaixaBank's commitment to equality

CaixaBank's Wengage diversity programme is a cross-disciplinary project, based on meritocracy and the promotion of equal opportunities, aiming to foster and promote gender, functional and generational diversity. Wengage includes internal measures to promote flexibility and work-life balance, training and female mentoring plans, through which CaixaBank’s managers help other employees to advance their careers.

Externally, CaixaBank's commitment to diversity includes promoting debate and public conversation around diversity (eWoman workshops and CaixaBank Talks); organising awards and acknowledgements for business leadership (Businesswoman Award) and academic excellence (Wonnow Stem Awards); or supporting sports activity (sponsorship of the women's basketball team).

CaixaBank adheres to the Women’s Empowerment Principles of the United Nations; the Voluntary Agreement with the Ministry of Health, Social Services and Equality, 'More women, better businesses', seeking better representation of women in management positions; and the Diversity Charter, to promote equal opportunities and anti-discriminatory measures.

Due to this commitment, CaixaBank has just been recognised by the Fundación Másfamilia with the EFR Certificate as a Family-Responsible Company, and it has received various awards recognising its diversity and inclusion efforts, such as the 25th Anniversary Award of the FEDEPE (Spanish Federation of Female Managers, Executives, Professionals and Entrepreneurs). It also features on the EWoB Gender Diversity Index.

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For the second year in a row, CaixaBank has been included in the annual Bloomberg Gender-Equality Index (GEI), which recognises companies from all over the world that are most committed to gender equality, through their policies, and transparency in disseminating their gender-related programmes and data.

The GEI is the benchmark index in this field, and measures gender equality through five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and pro-women brand. This year’s index features 325 companies from 42 countries , representing 11 industry sectors and a market capitalisation of $12 trillion. A total of 6 thousand businesses from 84 countries was analysed. The index also demonstrates a notable increase from the 230 businesses featured last year, with countries such as Russia, the Philippines, New Zealand, Norway and Poland included for the first time this year. Spain is the fourth most-represented country on the index, after the United States, Canada and Great Britain.

Diversity, meritocracy, equal opportunities and talent recognition are some of the pillars of CaixaBank's corporate culture. CaixaBank is committed to operate as a pacesetter for its employees, promoting inclusion and participation and supporting projects that promote equality, both within the company and across the whole of society. With 41.2% of women in managerial positions, CaixaBank is publicly committed to reaching 43% by 2021;its Board of Directors is formed of 37.5% women, one of the highest percentages in the sector.

The Bloomberg GEI includes valuable measurements assessing CaixaBank’s employee career progression plans and its diversity and inclusion strategy , as well as the company's commitment to the community.

The index also provides a portrait of key steps that are being taken by global businesses to bridge the gender gap. For example, 71% of businesses have a strategy for recruiting women, 33% have programmes for women to return to work after time off, and 44% of promotions last year were received by women.

To achieve a more inclusive professional environment, 49% of businesses offer allowances for childcare, 36% offer allowances for looking after the elderly, and 88% offer flexible working hours. With respect to the community, 48% of companies have designed diversity programmes for suppliers, which include businesses led by women, 59% have launched products aimed at women that help to achieve gender equality, and 64% donate to non-profit organisations whose main mission is to support gender equality in the workplace.

Wengage, CaixaBank's commitment to equality

CaixaBank's Wengage diversity programme is a cross-disciplinary project, based on meritocracy and the promotion of equal opportunities, aiming to foster and promote gender, functional and generational diversity. Wengage includes internal measures to promote flexibility and work-life balance, training and female mentoring plans, through which CaixaBank’s managers help other employees to advance their careers.

Externally, CaixaBank's commitment to diversity includes promoting debate and public conversation around diversity (eWoman workshops and CaixaBank Talks); organising awards and acknowledgements for business leadership (Businesswoman Award) and academic excellence (Wonnow Stem Awards); or supporting sports activity (sponsorship of the women's basketball team).

CaixaBank adheres to the Women’s Empowerment Principles of the United Nations; the Voluntary Agreement with the Ministry of Health, Social Services and Equality, 'More women, better businesses', seeking better representation of women in management positions; and the Diversity Charter, to promote equal opportunities and anti-discriminatory measures.

Due to this commitment, CaixaBank has just been recognised by the Fundación Másfamilia with the EFR Certificate as a Family-Responsible Company, and it has received various awards recognising its diversity and inclusion efforts, such as the 25th Anniversary Award of the FEDEPE (Spanish Federation of Female Managers, Executives, Professionals and Entrepreneurs). It also features on the EWoB Gender Diversity Index.

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<![CDATA[CDP includes CaixaBank on its A- list of leading companies fighting climate change ]]> https://blog.caixabank.es/?p=23645 2020-01-20T14:30:00.0Z 2020-01-20T14:30:00.0Z <![CDATA[CDP includes CaixaBank on its A- list of leading companies fighting climate change ]]> CDP has included CaixaBank on its A- list of leading companies fighting climate change, a recognition that further reinforces CaixaBank as a pioneering international business tackling climate change through robust strategies and policies. CaixaBank has been recognised by CDP for the sixth consecutive year placing it among the leading businesses in this field.

CDP is a non-profit international organisation based in the United Kingdom, which guides private companies and public entities in taking measures towards a sustainable economy, by reducing their CO2 emissions and measuring the environmental impact of their actions.

Each year, CDP analyses around 7,000 businesses to draw up their lists, which go from A (the most committed) to D, ranking companies according to how they manage climate change. The organisation assesses actions and strategies of thousands of companies around the world, and provides this information to more than 800 institutional investors, with a combined $100 billion of assets under management. In recent years, the classifications established by the CDP have become a benchmark instrument for investors and stakeholders to assess corporate actions to mitigate climate change, and to determine the level of the industry’s readiness in reacting to changes in legislation on emission reduction and market demands.

Alliances and initiatives to advance environmental sustainability

CaixaBank is among the world’s leading financial institutions to fight against climate change. In February 2019, the company announced its Climate Change Declaration, a proposal comprising five commitments related to decarbonisation: fund solutions addressing climate change; manage the risks derived from climate change; minimise and offset the carbon footprint; collaborate with other organisations for joint progress; and report on progress transparently.

To finance projects resulting in positive climate impact, CaixaBank has various lines of eco-funding for projects that pertain to sustainable development, renewable energies, etc. In 2018, CaixaBank participated in the green loans market for the amount of $1.448 billion, including funding renewable energy projects with over €645 million in 2018).

Furthermore, the company carefully manages environmental risks, in order to prevent, minimise, mitigate and remedy potential risks to the environment or the community. In this regard, in February 2019, the CaixaBank Board of Directors approved an Environmental Risk Management Policy, establishing exclusions for sectors with potential negative environmental impacts.

CaixaBank has an active emissions control policy, which has led to a successful reduction of carbon emissions by 75% since 2009. It prioritises electric energy that comes almost entirely from renewable sources, and offsets 100% of its calculated emissions, including indirect emissions.  

The company has also signed up to the United Nations Collective Commitment to Climate Action, a declaration created within the framework of the Responsible Banking Principles created to ensure that the financial sector mobilises its products, services and relationships to facilitate the economic transition towards a sustainable model. The commitment aims to align the portfolios of financial institutions all over the world in order to finance a low-carbon economy, with the hope of limiting the rise in global temperatures to under two degrees Celsius.

The bank was the first Spanish organisation included on the RE100 list, an initiative which seeks to increase the supply and demand of clean energy. It is also part of the Spanish Group for Green Growth, which advocates economic growth linked to a low-carbon economy.

]]>
CDP has included CaixaBank on its A- list of leading companies fighting climate change, a recognition that further reinforces CaixaBank as a pioneering international business tackling climate change through robust strategies and policies. CaixaBank has been recognised by CDP for the sixth consecutive year placing it among the leading businesses in this field.

CDP is a non-profit international organisation based in the United Kingdom, which guides private companies and public entities in taking measures towards a sustainable economy, by reducing their CO2 emissions and measuring the environmental impact of their actions.

Each year, CDP analyses around 7,000 businesses to draw up their lists, which go from A (the most committed) to D, ranking companies according to how they manage climate change. The organisation assesses actions and strategies of thousands of companies around the world, and provides this information to more than 800 institutional investors, with a combined $100 billion of assets under management. In recent years, the classifications established by the CDP have become a benchmark instrument for investors and stakeholders to assess corporate actions to mitigate climate change, and to determine the level of the industry’s readiness in reacting to changes in legislation on emission reduction and market demands.

Alliances and initiatives to advance environmental sustainability

CaixaBank is among the world’s leading financial institutions to fight against climate change. In February 2019, the company announced its Climate Change Declaration, a proposal comprising five commitments related to decarbonisation: fund solutions addressing climate change; manage the risks derived from climate change; minimise and offset the carbon footprint; collaborate with other organisations for joint progress; and report on progress transparently.

To finance projects resulting in positive climate impact, CaixaBank has various lines of eco-funding for projects that pertain to sustainable development, renewable energies, etc. In 2018, CaixaBank participated in the green loans market for the amount of $1.448 billion, including funding renewable energy projects with over €645 million in 2018).

Furthermore, the company carefully manages environmental risks, in order to prevent, minimise, mitigate and remedy potential risks to the environment or the community. In this regard, in February 2019, the CaixaBank Board of Directors approved an Environmental Risk Management Policy, establishing exclusions for sectors with potential negative environmental impacts.

CaixaBank has an active emissions control policy, which has led to a successful reduction of carbon emissions by 75% since 2009. It prioritises electric energy that comes almost entirely from renewable sources, and offsets 100% of its calculated emissions, including indirect emissions.  

The company has also signed up to the United Nations Collective Commitment to Climate Action, a declaration created within the framework of the Responsible Banking Principles created to ensure that the financial sector mobilises its products, services and relationships to facilitate the economic transition towards a sustainable model. The commitment aims to align the portfolios of financial institutions all over the world in order to finance a low-carbon economy, with the hope of limiting the rise in global temperatures to under two degrees Celsius.

The bank was the first Spanish organisation included on the RE100 list, an initiative which seeks to increase the supply and demand of clean energy. It is also part of the Spanish Group for Green Growth, which advocates economic growth linked to a low-carbon economy.

]]>
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<![CDATA[CaixaBank applies artificial intelligence to augment employee training]]> https://blog.caixabank.es/?p=23645 2020-01-16T00:00:00.0Z 2020-01-16T00:00:00.0Z <![CDATA[CaixaBank applies artificial intelligence to augment employee training]]> CaixaBank has started to use artificial intelligence to improve the acquisition of new skills among its employees. The financial institution, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, has launched a new version of Virtaula, an online training platform for its entire workforce, incorporating artificial intelligence to identify each employee's areas of interest and recommend courses tailored to their individual profiles.

Virtaula hosts information on CaixaBank Group employees and offers a wide range of online training, including courses across numerous specialities: languages, executive skills, digital skills, finance, risk management, etc. The majority of these courses have been especially designed for CaixaBank by benchmark institutions and training centres in different disciplines. The course catalogue includes options at all levels, from university postgraduate courses to short-duration intensive courses, and they are designed so that they can be taken entirely online through self-training.

The application of artificial intelligence in the Virtaula platform will give each employee access to courses that are potentially more appealing based on their individual profile. These course suggestions will also continue to be enhanced as the system will learn and improve based on user experience.

Furthermore, to make it even easier to access the right training, CaixaBank has introduced a chatbot, which will interact with the user using natural language. This equips the employee with a personal assistant that helps them to locate relevant training content, at any time, even in instances where recommendations are not immediately related to courses that have been taken previously. Employees can also explore the full catalogue of courses by theme, without using the artificial intelligence support, however, given the wide range of courses available, this may make it more time-consuming to identify the most interesting and relevant content for their profiles.

The main benefit of customising internal training through artificial intelligence is the improved access to courses that expand the professional skills of CaixaBank employees. In its 2019-2021 Strategic Plan, the financial institution set out to accelerate digital transformation, to become more efficient and nimble, and to strengthen its collaborative people-focused culture.

CaixaBank, a pioneer in innovation applied to training

The Virtaula platform is the main way for CaixaBank employees to access both regulatory information, which is compulsory for all workers in the financial sector, and self-training courses. In 2019, more than 90 per centof training was taken through Virtaula.

CaixaBank was the first financial services provider in Spain to commit to digitising its internal training platform. In fact, the Virtaula platform turns 20 years old this month: the first version appeared in 2000. Since then, this online channel has evolved, incorporating new resources and technologies, from social networks and tools that facilitate shared knowledge (blogs, forums, wikis, etc.) to gamification techniques to promote learning.

]]>
CaixaBank has started to use artificial intelligence to improve the acquisition of new skills among its employees. The financial institution, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, has launched a new version of Virtaula, an online training platform for its entire workforce, incorporating artificial intelligence to identify each employee's areas of interest and recommend courses tailored to their individual profiles.

Virtaula hosts information on CaixaBank Group employees and offers a wide range of online training, including courses across numerous specialities: languages, executive skills, digital skills, finance, risk management, etc. The majority of these courses have been especially designed for CaixaBank by benchmark institutions and training centres in different disciplines. The course catalogue includes options at all levels, from university postgraduate courses to short-duration intensive courses, and they are designed so that they can be taken entirely online through self-training.

The application of artificial intelligence in the Virtaula platform will give each employee access to courses that are potentially more appealing based on their individual profile. These course suggestions will also continue to be enhanced as the system will learn and improve based on user experience.

Furthermore, to make it even easier to access the right training, CaixaBank has introduced a chatbot, which will interact with the user using natural language. This equips the employee with a personal assistant that helps them to locate relevant training content, at any time, even in instances where recommendations are not immediately related to courses that have been taken previously. Employees can also explore the full catalogue of courses by theme, without using the artificial intelligence support, however, given the wide range of courses available, this may make it more time-consuming to identify the most interesting and relevant content for their profiles.

The main benefit of customising internal training through artificial intelligence is the improved access to courses that expand the professional skills of CaixaBank employees. In its 2019-2021 Strategic Plan, the financial institution set out to accelerate digital transformation, to become more efficient and nimble, and to strengthen its collaborative people-focused culture.

CaixaBank, a pioneer in innovation applied to training

The Virtaula platform is the main way for CaixaBank employees to access both regulatory information, which is compulsory for all workers in the financial sector, and self-training courses. In 2019, more than 90 per centof training was taken through Virtaula.

CaixaBank was the first financial services provider in Spain to commit to digitising its internal training platform. In fact, the Virtaula platform turns 20 years old this month: the first version appeared in 2000. Since then, this online channel has evolved, incorporating new resources and technologies, from social networks and tools that facilitate shared knowledge (blogs, forums, wikis, etc.) to gamification techniques to promote learning.

]]>
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<![CDATA[The Fundación MásFamilia recognises CaixaBank for its management model with regard to equality]]> https://blog.caixabank.es/?p=23645 2020-01-15T00:00:00.0Z 2020-01-15T00:00:00.0Z <![CDATA[The Fundación MásFamilia recognises CaixaBank for its management model with regard to equality]]> CaixaBank has renewed its certificate as a Family Responsible Company, awarded by the Fundación MásFamilia, which recognises its management model with regard to equality and its commitment to work-life balance policies and initiatives. The certificate recognises aspects such as employment quality, time and location flexibility, management and leadership style, family support, professional training and development and equal opportunities, among other things.  

The company, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, received this certification for the first time in 2010 for the effectiveness of its policies with regard to equality and its commitment to a responsible management model, promoting the work-life balance. Since then it has gone from a C rating ('committed company') to a B+, the highest rating as a 'proactive business'.

The certificate renewal process has included both an internal and an external audit, as well as an assessment and update of the measures implemented within the institution. 201 interviews were also conducted with professionals within the institution, two focus groups and an online questionnaire with 4,500 professionals.

EFR is an international movement that seeks to advance responsibility and respect for work-life balance. It also bolsters support for equal opportunities and the inclusion of everybody, taking current and binding legislation and collective bargaining as a basis, so that EFR businesses voluntarily regulate themselves in this respect. Currently, the Fundación Másfamilia has the authority to accredit the status of a family responsible company.

CaixaBank and its Wengage philosophy

Companies with the more women on their management teams were 21% more likely to achieve above-average profitability, compared with those with relatively few women in senior, decision-making roles (McKinsey, 2018). Moreover, if diversity is extended to the cultural sphere, the probability is even higher (33%). Furthermore, a style of leadership with a horizontal approach, with characteristics such as empathy, sensitivity and consensus building, is highly recommended in today's organisations that are increasingly flat and inter-connected. CaixaBank has a percentage of 41.2% women in managerial positions and 37.5% women on the Board of Directors, one of the highest ratios of the sector.

To work in this field, CaixaBank has its Wengage diversity programme, a cross-disciplinary programme developed by people all across CaixaBank, based on meritocracy and the promotion of equal opportunities, which works to promote and visualise gender, functional and generational diversity.

The company features in the 2019 Bloomberg Gender-Quality Index, which incorporates 230 international businesses that are pioneers in their commitment to transparency in reports on gender in the workplace.

CaixaBank also adheres to the United Nations' Women’s Empowerment Principles; the Voluntary Agreement with the Ministry of Health, Social Services and Equality, 'More women, better businesses', seeking better representativeness of women in management positions; and the Diversity Charter, to promote equal opportunities and anti-discriminatory measures.

Thanks to this commitment, CaixaBank has received various recognitions, such as the 25th anniversary of the FEDEPE Award (The Spanish Federation of Female Managers, Executives, Professionals and Entrepreneurs).

]]>
CaixaBank has renewed its certificate as a Family Responsible Company, awarded by the Fundación MásFamilia, which recognises its management model with regard to equality and its commitment to work-life balance policies and initiatives. The certificate recognises aspects such as employment quality, time and location flexibility, management and leadership style, family support, professional training and development and equal opportunities, among other things.  

The company, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, received this certification for the first time in 2010 for the effectiveness of its policies with regard to equality and its commitment to a responsible management model, promoting the work-life balance. Since then it has gone from a C rating ('committed company') to a B+, the highest rating as a 'proactive business'.

The certificate renewal process has included both an internal and an external audit, as well as an assessment and update of the measures implemented within the institution. 201 interviews were also conducted with professionals within the institution, two focus groups and an online questionnaire with 4,500 professionals.

EFR is an international movement that seeks to advance responsibility and respect for work-life balance. It also bolsters support for equal opportunities and the inclusion of everybody, taking current and binding legislation and collective bargaining as a basis, so that EFR businesses voluntarily regulate themselves in this respect. Currently, the Fundación Másfamilia has the authority to accredit the status of a family responsible company.

CaixaBank and its Wengage philosophy

Companies with the more women on their management teams were 21% more likely to achieve above-average profitability, compared with those with relatively few women in senior, decision-making roles (McKinsey, 2018). Moreover, if diversity is extended to the cultural sphere, the probability is even higher (33%). Furthermore, a style of leadership with a horizontal approach, with characteristics such as empathy, sensitivity and consensus building, is highly recommended in today's organisations that are increasingly flat and inter-connected. CaixaBank has a percentage of 41.2% women in managerial positions and 37.5% women on the Board of Directors, one of the highest ratios of the sector.

To work in this field, CaixaBank has its Wengage diversity programme, a cross-disciplinary programme developed by people all across CaixaBank, based on meritocracy and the promotion of equal opportunities, which works to promote and visualise gender, functional and generational diversity.

The company features in the 2019 Bloomberg Gender-Quality Index, which incorporates 230 international businesses that are pioneers in their commitment to transparency in reports on gender in the workplace.

CaixaBank also adheres to the United Nations' Women’s Empowerment Principles; the Voluntary Agreement with the Ministry of Health, Social Services and Equality, 'More women, better businesses', seeking better representativeness of women in management positions; and the Diversity Charter, to promote equal opportunities and anti-discriminatory measures.

Thanks to this commitment, CaixaBank has received various recognitions, such as the 25th anniversary of the FEDEPE Award (The Spanish Federation of Female Managers, Executives, Professionals and Entrepreneurs).

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<![CDATA[CaixaBank places €1 billion of preferred senior debt, attracting demand in excess of €2.3 billion]]> https://blog.caixabank.es/?p=23645 2020-01-09T17:00:00.0Z 2020-01-09T17:00:00.0Z <![CDATA[CaixaBank places €1 billion of preferred senior debt, attracting demand in excess of €2.3 billion]]> CaixaBank has made the most of the good market conditions to raise €1 billion of five-year bonds in preferred senior debt format. The price has been set at 58 bps over the mid-swap, and the coupon has been established at 0.375%. It is the lowest coupon reached by CaixaBank in senior debt.

The operation's success is evidenced by the demand, which has exceeded €2.3 billion and has brought the interest rate down by 22 bps to midswap + 58 bps with respect to the level offered in the announcement.

CaixaBank did not have to pay a new issuance premium due to the high quality demand. Other recent issues in preferred senior debt format have required conceding between 5-7 bps, which reflects CaixaBank's widespread following and, especially, the acknowledgement of its credit strength.

CaixaBank has successfully placed the debt in a very active market, which saw a very active day yesterday with an offering of €31 billion in the primary market, setting a historic issuance record for a single day in the euro market. A record followed by a highly active day in the market today as well.

The outstanding demand was matched by the book's quality. The transaction accumulated orders from 126 institutional investors and highlighted CaixaBank's consolidated granular investor base. As has become customary in the bank's last issues, the significant participation of foreign investors particularly stands out, amounting to 77% of the total, and includes the main investment funds in the UK, France and Germany, as well as the main insurer's and European banks treasuries.

Since 2018, CaixaBank has issued €10.8 billion of mortgage-covered bonds, preferred senior debt, non-preferred senior debt, Tier 2 subordinated debt and contingent convertible (CoCos) AT1 debt.

First issue of the year

This is the first institutional debt issue in 2020 by CaixaBank, led by Chairman Jordi Gual and with Gonzalo Gortázar as CEO, and the fourth preferred senior debt issue since 2017, a market it has called on every year since. CaixaBank's last preferred senior debt issue was in March 2019, placing €1 billion with a 7-year maturity at a price of 90 bps over the midswap. Today's issuance completes CaixaBank's credit curve, establishing a new short-term benchmark in a moment when there is a robust medium-term demand.

The issue will have ratings of Baa1, BBB+, BBB+ and A by Moody’s, Standard & Poor’s, Fitch and DBRS, respectively.

The underwriting banks of this issue have been Barclays, BNP Paribas, CaixaBank, Commerzbank and Credit Suisse.

]]>
CaixaBank has made the most of the good market conditions to raise €1 billion of five-year bonds in preferred senior debt format. The price has been set at 58 bps over the mid-swap, and the coupon has been established at 0.375%. It is the lowest coupon reached by CaixaBank in senior debt.

The operation's success is evidenced by the demand, which has exceeded €2.3 billion and has brought the interest rate down by 22 bps to midswap + 58 bps with respect to the level offered in the announcement.

CaixaBank did not have to pay a new issuance premium due to the high quality demand. Other recent issues in preferred senior debt format have required conceding between 5-7 bps, which reflects CaixaBank's widespread following and, especially, the acknowledgement of its credit strength.

CaixaBank has successfully placed the debt in a very active market, which saw a very active day yesterday with an offering of €31 billion in the primary market, setting a historic issuance record for a single day in the euro market. A record followed by a highly active day in the market today as well.

The outstanding demand was matched by the book's quality. The transaction accumulated orders from 126 institutional investors and highlighted CaixaBank's consolidated granular investor base. As has become customary in the bank's last issues, the significant participation of foreign investors particularly stands out, amounting to 77% of the total, and includes the main investment funds in the UK, France and Germany, as well as the main insurer's and European banks treasuries.

Since 2018, CaixaBank has issued €10.8 billion of mortgage-covered bonds, preferred senior debt, non-preferred senior debt, Tier 2 subordinated debt and contingent convertible (CoCos) AT1 debt.

First issue of the year

This is the first institutional debt issue in 2020 by CaixaBank, led by Chairman Jordi Gual and with Gonzalo Gortázar as CEO, and the fourth preferred senior debt issue since 2017, a market it has called on every year since. CaixaBank's last preferred senior debt issue was in March 2019, placing €1 billion with a 7-year maturity at a price of 90 bps over the midswap. Today's issuance completes CaixaBank's credit curve, establishing a new short-term benchmark in a moment when there is a robust medium-term demand.

The issue will have ratings of Baa1, BBB+, BBB+ and A by Moody’s, Standard & Poor’s, Fitch and DBRS, respectively.

The underwriting banks of this issue have been Barclays, BNP Paribas, CaixaBank, Commerzbank and Credit Suisse.

]]>
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<![CDATA[CaixaBank participates in EU R&D project aimed at establishing an international cybersecurity certification standard]]> https://blog.caixabank.es/?p=23645 2020-01-09T00:00:00.0Z 2020-01-09T00:00:00.0Z <![CDATA[CaixaBank participates in EU R&D project aimed at establishing an international cybersecurity certification standard]]> Together with eight international institutions and companies, CaixaBank has developed the EU-SEC (European Security Certification Framework) cybersecurity project, which is funded by the European Union within the framework of the 2020 Horizon programme.

The research team, consisting of 25 professionals of 11 different nationalities from multiple disciplines (finance, public administration, audit, cybersecurity and technology, among others), will officially present its findings in the upcoming weeks. Three years of work and a total investment of 3 million euros have been invested in the completion of the project.

Working towards a European certification standard for cloud cybersecurity

The conducted research is aimed at creating a European framework for the ongoing certification of security in cloud environments. Currently, there is no international certification validating the security of data stored in the cloud on an ongoing basis. However, a European certification standard within this scope would standardise the security requirements across different countries and thus provide access to new markets with innovative technology providers while fully ensuring data protection.

This certification standard would be especially useful in two sectors that handle a high volume of sensitive data: banking and public administration. With this in mind, the EU-SEC project has been developed following a two-pronged approach: one focusing on finance and led by CaixaBank, and another aimed at public administrations, in which the Slovenian and Slovakian governments have collaborated.

In addition, Cloud Security Alliance (an international organisation specialising in cloud technology), along with cloud infrastructure provider Fabasoft, university research centre Fraunhofer, auditors Nixu Cibersecurity and PriceWaterhouseCoopers, and technology company SixSq, have participated in EU-SEC with the aim of covering the various different aspects required for this type of certification.

CaixaBank: a cybersecurity ecosystem with specialist teams

CaixaBank, chaired by Jordi Gual and led by CEO Gonzalo Gortázar, is a pioneer in security coordination and research. In this respect, the bank has rolled out a cybersecurity ecosystem with specialist teams and infrastructure to provide protection against security incidents. 

In addition, CaixaBank has a group that specialises in responding to IT security incidents and a centre that coordinates end-to-end security for the group, known as CiberSOC, operating around the clock. This team has become a highly renowned IT security working group as a result of its collaboration with other expert organisations at a national and international level. It is a member of the main international cybersecurity research and collaboration forums, such as the Forum for Incident Response and Security Teams (FIRST), the Messaging Anti-Abuse Working Group and the Anti-Phishing Working Group in the USA. Jointly with this organisation, it has created APGW.eu, the first European partnership between companies, governments, security bodies and universities in support of IT security.

CaixaBank, a reference for innovation in the financial sector

CaixaBank, headed by chairman Jordi Gual and led by CEO Gonzalo Gortázar, is the leading financial group in retail banking in Spain and one of the most important in Portugal. It has 15.6 million customers in the Iberian market and boasts the peninsula's leading business network.

Technology and digitalisation are key in the company's business model, which has the largest base of digital customers in Spain (6.3 million). In addition, CaixaBank has developed landmark technology projects in the sector, such as the creation of the first ATMs that allow users to withdraw cash through facial recognition and without having to enter their PIN –a project chosen as one of the Technological Projects of the Year in the Tech Project Awards by The Banker magazine.

Thanks to its digital transformation strategy, CaixaBank has become one of the highest-rated banks in the world based on the quality of its digital products and services. In 2019, the company was recognised as the Best Bank Transformation in Western Europe by the magazine Euromoney and the Most Innovative Bank in Western Europe by US magazine Global Finance. It has also been acknowledged as the Best Private Banking institution in the world for its digital client communication at the Wealth Tech Awards held by the PWM magazine of the Financial Times group.

 

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Together with eight international institutions and companies, CaixaBank has developed the EU-SEC (European Security Certification Framework) cybersecurity project, which is funded by the European Union within the framework of the 2020 Horizon programme.

The research team, consisting of 25 professionals of 11 different nationalities from multiple disciplines (finance, public administration, audit, cybersecurity and technology, among others), will officially present its findings in the upcoming weeks. Three years of work and a total investment of 3 million euros have been invested in the completion of the project.

Working towards a European certification standard for cloud cybersecurity

The conducted research is aimed at creating a European framework for the ongoing certification of security in cloud environments. Currently, there is no international certification validating the security of data stored in the cloud on an ongoing basis. However, a European certification standard within this scope would standardise the security requirements across different countries and thus provide access to new markets with innovative technology providers while fully ensuring data protection.

This certification standard would be especially useful in two sectors that handle a high volume of sensitive data: banking and public administration. With this in mind, the EU-SEC project has been developed following a two-pronged approach: one focusing on finance and led by CaixaBank, and another aimed at public administrations, in which the Slovenian and Slovakian governments have collaborated.

In addition, Cloud Security Alliance (an international organisation specialising in cloud technology), along with cloud infrastructure provider Fabasoft, university research centre Fraunhofer, auditors Nixu Cibersecurity and PriceWaterhouseCoopers, and technology company SixSq, have participated in EU-SEC with the aim of covering the various different aspects required for this type of certification.

CaixaBank: a cybersecurity ecosystem with specialist teams

CaixaBank, chaired by Jordi Gual and led by CEO Gonzalo Gortázar, is a pioneer in security coordination and research. In this respect, the bank has rolled out a cybersecurity ecosystem with specialist teams and infrastructure to provide protection against security incidents. 

In addition, CaixaBank has a group that specialises in responding to IT security incidents and a centre that coordinates end-to-end security for the group, known as CiberSOC, operating around the clock. This team has become a highly renowned IT security working group as a result of its collaboration with other expert organisations at a national and international level. It is a member of the main international cybersecurity research and collaboration forums, such as the Forum for Incident Response and Security Teams (FIRST), the Messaging Anti-Abuse Working Group and the Anti-Phishing Working Group in the USA. Jointly with this organisation, it has created APGW.eu, the first European partnership between companies, governments, security bodies and universities in support of IT security.

CaixaBank, a reference for innovation in the financial sector

CaixaBank, headed by chairman Jordi Gual and led by CEO Gonzalo Gortázar, is the leading financial group in retail banking in Spain and one of the most important in Portugal. It has 15.6 million customers in the Iberian market and boasts the peninsula's leading business network.

Technology and digitalisation are key in the company's business model, which has the largest base of digital customers in Spain (6.3 million). In addition, CaixaBank has developed landmark technology projects in the sector, such as the creation of the first ATMs that allow users to withdraw cash through facial recognition and without having to enter their PIN –a project chosen as one of the Technological Projects of the Year in the Tech Project Awards by The Banker magazine.

Thanks to its digital transformation strategy, CaixaBank has become one of the highest-rated banks in the world based on the quality of its digital products and services. In 2019, the company was recognised as the Best Bank Transformation in Western Europe by the magazine Euromoney and the Most Innovative Bank in Western Europe by US magazine Global Finance. It has also been acknowledged as the Best Private Banking institution in the world for its digital client communication at the Wealth Tech Awards held by the PWM magazine of the Financial Times group.

 

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<![CDATA[Luis Javier Blas Agüeros, CaixaBank's new executive director of resources]]> https://blog.caixabank.es/?p=23645 2020-01-07T00:00:00.0Z 2020-01-07T00:00:00.0Z <![CDATA[Luis Javier Blas Agüeros, CaixaBank's new executive director of resources]]>  

CaixaBank's Board of Directors has appointed Luis Javier Blas Agüeros as the new Resources executive director. The until now Head of Engineering & Data at BBVA Spain and member of its Management Committee has extensive experience in the financial sector, where he focused on business process transformation and, particularly, on the bank's digital transformation in the past 20 years.

Luis Javier Blas Agüeros will become a member of CaixaBank's Management Committee replacing Jordi Fontanals, who will continue his role as executive director over the next months, sharing his experience and knowledge to ensure a complete handover of all his functions.

Jordi Fontanals joined “la Caixa” in 1976 and, since then, has held different positions of responsibility in the IT Services area until he was appointed executive director of resources in 2011. He has been a member of CaixaBank’s Management Committee since July 2014.

CaixaBank is the leading financial group in retail banking in Spain and one of the most important in Portugal. It has 15.6 million customers in the Iberian market and boasts the peninsula's leading business network.

Technology and digitisation are key in the company's business model, which has the largest base of digital customers in Spain (6.3 million). In addition, CaixaBank has developed landmark technology projects in the sector, such as the creation of the first ATMs that allow users to withdraw cash through facial recognition and without having to enter their PIN –a project chosen as one of the Technological Projects of the Year in the Tech Project Awards by The Banker magazine.

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CaixaBank's Board of Directors has appointed Luis Javier Blas Agüeros as the new Resources executive director. The until now Head of Engineering & Data at BBVA Spain and member of its Management Committee has extensive experience in the financial sector, where he focused on business process transformation and, particularly, on the bank's digital transformation in the past 20 years.

Luis Javier Blas Agüeros will become a member of CaixaBank's Management Committee replacing Jordi Fontanals, who will continue his role as executive director over the next months, sharing his experience and knowledge to ensure a complete handover of all his functions.

Jordi Fontanals joined “la Caixa” in 1976 and, since then, has held different positions of responsibility in the IT Services area until he was appointed executive director of resources in 2011. He has been a member of CaixaBank’s Management Committee since July 2014.

CaixaBank is the leading financial group in retail banking in Spain and one of the most important in Portugal. It has 15.6 million customers in the Iberian market and boasts the peninsula's leading business network.

Technology and digitisation are key in the company's business model, which has the largest base of digital customers in Spain (6.3 million). In addition, CaixaBank has developed landmark technology projects in the sector, such as the creation of the first ATMs that allow users to withdraw cash through facial recognition and without having to enter their PIN –a project chosen as one of the Technological Projects of the Year in the Tech Project Awards by The Banker magazine.

]]>
0
<![CDATA[CaixaBank launches the blockchain platform we.trade to execute and finance its corporate customers' foreign trade transactions]]> https://blog.caixabank.es/?p=23645 2020-01-03T11:00:00.0Z 2020-01-03T11:00:00.0Z <![CDATA[CaixaBank launches the blockchain platform we.trade to execute and finance its corporate customers' foreign trade transactions]]> CaixaBank has added the digital trade platform we.trade to its service catalogue for companies. Thus, it has become one of the first European banks to grant its customers access to blockchain technology, with the goal of helping them to internationalise their business.

This platform offers speed, simplicity and security for all parties in foreign trade transactions. It has been developed by a consortium comprising 15 European financial institutions, and it allows importers and exporters –collectively from a single connection point– to conduct their trading operations in a digital format in a simple and user-friendly way.

we.trade is Europe's first blockchain-technology-based  foreign-trade platform, and its goal is to increase the security and traceability of national and international trading transactions. Specifically, the solution provides real-time monitoring of transactions, which increases transparency throughout the process. Since it is a platform which can only be accessed by customers who are verified and authenticated by the member banks, the security and trust element of the transactions is very high.

The we.trade platform generates smart contracts that link the trading operation with the financing or payment, and with the fulfillment of the trading conditions. This prevents any default risk for companies, which can contribute to driving the internationalisation of many companies' business.

Furthermore, the tool facilitates the transaction process for suppliers and buyers in a streamlined and collaborative way on a single shared platform, improving their cash management and planning.

CaixaBank, a leader in banking innovation

The new operations, driven by the innovation teams at CaixaBank and CaixaBank Business, represent headway in applying advanced technologies to financial services. CaixaBank was one of the first European banks to assess blockchain's potential for financial services, and actively participates in various consortia, where innovation takes place with new solutions based on this technology. Digitalisation is key in the business model of CaixaBank, which has the largest base of digital customers in Spain (6.3 million).

Thanks to its digital transformation strategy –one of the pillars of its 2019-2021 Strategic Plan– CaixaBank has become one of the highest-rated banks in the world based on the quality of its digital products and services. In 2019, the company was recognised as the Best Bank Transformation in Western Europe by the magazine Euromoney and the Most Innovative Bank in Western Europe by US magazine Global Finance. It has also been acknowledged as the Best Private banking institution in the world for its digital client communication at the Wealth Tech Awards held by the PWM magazine of the Financial Times group.

CaixaBank, the bank chosen by companies

CaixaBank has consolidated itself as a benchmark bank for companies with a specialist model that has a network of 125 CaixaBank Empresas centres across Spain that employ 1,118 highly specialised and continually trained professionals with a solid reputation in providing advice to companies.

CaixaBank provides its corporate customers support in 127 countries via operational branches, representative offices, correspondent branches and bank holdings that, combined with our specialised managers working in branches in Spain, are the best help for companies' operations abroad. The bank offers services both to SMEs and micro-enterprises that are starting exporting activities, as well as to large corporations and business groups tackling more complex international projects.

]]>
CaixaBank has added the digital trade platform we.trade to its service catalogue for companies. Thus, it has become one of the first European banks to grant its customers access to blockchain technology, with the goal of helping them to internationalise their business.

This platform offers speed, simplicity and security for all parties in foreign trade transactions. It has been developed by a consortium comprising 15 European financial institutions, and it allows importers and exporters –collectively from a single connection point– to conduct their trading operations in a digital format in a simple and user-friendly way.

we.trade is Europe's first blockchain-technology-based  foreign-trade platform, and its goal is to increase the security and traceability of national and international trading transactions. Specifically, the solution provides real-time monitoring of transactions, which increases transparency throughout the process. Since it is a platform which can only be accessed by customers who are verified and authenticated by the member banks, the security and trust element of the transactions is very high.

The we.trade platform generates smart contracts that link the trading operation with the financing or payment, and with the fulfillment of the trading conditions. This prevents any default risk for companies, which can contribute to driving the internationalisation of many companies' business.

Furthermore, the tool facilitates the transaction process for suppliers and buyers in a streamlined and collaborative way on a single shared platform, improving their cash management and planning.

CaixaBank, a leader in banking innovation

The new operations, driven by the innovation teams at CaixaBank and CaixaBank Business, represent headway in applying advanced technologies to financial services. CaixaBank was one of the first European banks to assess blockchain's potential for financial services, and actively participates in various consortia, where innovation takes place with new solutions based on this technology. Digitalisation is key in the business model of CaixaBank, which has the largest base of digital customers in Spain (6.3 million).

Thanks to its digital transformation strategy –one of the pillars of its 2019-2021 Strategic Plan– CaixaBank has become one of the highest-rated banks in the world based on the quality of its digital products and services. In 2019, the company was recognised as the Best Bank Transformation in Western Europe by the magazine Euromoney and the Most Innovative Bank in Western Europe by US magazine Global Finance. It has also been acknowledged as the Best Private banking institution in the world for its digital client communication at the Wealth Tech Awards held by the PWM magazine of the Financial Times group.

CaixaBank, the bank chosen by companies

CaixaBank has consolidated itself as a benchmark bank for companies with a specialist model that has a network of 125 CaixaBank Empresas centres across Spain that employ 1,118 highly specialised and continually trained professionals with a solid reputation in providing advice to companies.

CaixaBank provides its corporate customers support in 127 countries via operational branches, representative offices, correspondent branches and bank holdings that, combined with our specialised managers working in branches in Spain, are the best help for companies' operations abroad. The bank offers services both to SMEs and micro-enterprises that are starting exporting activities, as well as to large corporations and business groups tackling more complex international projects.

]]>
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<![CDATA[CaixaBank joins the UN Collective Commitment to Climate Action]]> https://blog.caixabank.es/?p=23645 2019-12-10T00:00:00.0Z 2019-12-10T00:00:00.0Z <![CDATA[CaixaBank joins the UN Collective Commitment to Climate Action]]> CaixaBank has joined the United Nations Collective Commitment to Climate Action, a declaration created within the framework of the Principles for Responsible Banking, impulsing the financial sector to mobilise its products, services and relationships in an effort to streamline the economic transition towards a sustainable model. The commitment aims to align the portfolios of financial institutions all over the world in order to finance a low-carbon economy, with the hope of limiting the rise in global temperatures to under two degrees celsius.

The Managing Director of CaixaBank, Gonzalo Gortázar, has pointed out that “it is essential that we speed up the transition towards a low-carbon economy, promoting sustainable and socially-inclusive development. Our backing of the Collective Commitment to Climate Action is a step in the right direction and is fully aligned with our socially responsible banking model, our environmental strategy and our corporate values of quality, trust and social commitment".

In total, 35 banks from all over the world have joined the UN Collective Commitment to Climate Action. Additionally, CaixaBank has signed on to the Commitment to the Climate that CECA and the AEB have been promoting for the Spanish banking sector.

Specific commitments

By signing this agreement, the group of signatory financial institutions promises to focus its efforts on the most carbon-intensive sectors and those most vulnerable to the climate within their portfolios, as these are key for climate transition. In addition, these entities will involve their clients into their own energy transition to contribute more effectively to the technologies necessary to achieving low carbon emissions in the real economy.

The companies also proposed publishing goals specific to the sector, based on scenarios for aligning the portfolio with the objectives of the Paris Agreement. Within the first year following its signature, the entities will publish and implement the measures that they themselves will take alongside their clients to support and speed up the change towards more sustainable technologies, models and companies.

The agreement lays out the commitment made by the financial institutions to working together to develop methodologies to measure the impact on the climate and align them with the global and local objectives. To ensure the individual and collective accountability of each bank, they promise to provide information on their progress in the implementation of their commitment.

United Nations Principles for Responsible Banking

This past September, in an event held in the UN headquarters in New York, CaixaBank ratified the UN Principles for Responsible Banking, whose objective is to focus the activity of the financial sector towards the achievement of the United Nations's Sustainable Development Goals and the Paris Agreement combatting climate change.

The Principles for Responsible Banking pursue the role of financial institutions in speeding up the transition towards a more sustainable economy and way of life, due to their key function as financial providers worldwide. In addition, they set the framework for the sustainable banking system of the future and help the sector to materialise its positive contribution on society.

]]>
CaixaBank has joined the United Nations Collective Commitment to Climate Action, a declaration created within the framework of the Principles for Responsible Banking, impulsing the financial sector to mobilise its products, services and relationships in an effort to streamline the economic transition towards a sustainable model. The commitment aims to align the portfolios of financial institutions all over the world in order to finance a low-carbon economy, with the hope of limiting the rise in global temperatures to under two degrees celsius.

The Managing Director of CaixaBank, Gonzalo Gortázar, has pointed out that “it is essential that we speed up the transition towards a low-carbon economy, promoting sustainable and socially-inclusive development. Our backing of the Collective Commitment to Climate Action is a step in the right direction and is fully aligned with our socially responsible banking model, our environmental strategy and our corporate values of quality, trust and social commitment".

In total, 35 banks from all over the world have joined the UN Collective Commitment to Climate Action. Additionally, CaixaBank has signed on to the Commitment to the Climate that CECA and the AEB have been promoting for the Spanish banking sector.

Specific commitments

By signing this agreement, the group of signatory financial institutions promises to focus its efforts on the most carbon-intensive sectors and those most vulnerable to the climate within their portfolios, as these are key for climate transition. In addition, these entities will involve their clients into their own energy transition to contribute more effectively to the technologies necessary to achieving low carbon emissions in the real economy.

The companies also proposed publishing goals specific to the sector, based on scenarios for aligning the portfolio with the objectives of the Paris Agreement. Within the first year following its signature, the entities will publish and implement the measures that they themselves will take alongside their clients to support and speed up the change towards more sustainable technologies, models and companies.

The agreement lays out the commitment made by the financial institutions to working together to develop methodologies to measure the impact on the climate and align them with the global and local objectives. To ensure the individual and collective accountability of each bank, they promise to provide information on their progress in the implementation of their commitment.

United Nations Principles for Responsible Banking

This past September, in an event held in the UN headquarters in New York, CaixaBank ratified the UN Principles for Responsible Banking, whose objective is to focus the activity of the financial sector towards the achievement of the United Nations's Sustainable Development Goals and the Paris Agreement combatting climate change.

The Principles for Responsible Banking pursue the role of financial institutions in speeding up the transition towards a more sustainable economy and way of life, due to their key function as financial providers worldwide. In addition, they set the framework for the sustainable banking system of the future and help the sector to materialise its positive contribution on society.

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