CaixaBank’s new branch in Milan has been recognized as the ‘Best Initiative in the Banking Sector 2023’ by the Spanish Chamber of Commerce in Italy

New international recognition

• CaixaBank, which has been present in Italy for 20 years through a representative office, opened its first branch in Italy at the beginning of this year.
• The awards recognise Spanish companies with a presence in Italy that stand out for their values, their innovation and their capacity for development in the Italian market.

CaixaBank has been recognized with the award for the 'Best Initiative in the Banking Sector in Italy 2023' in the awards given each year by the Spanish Chamber of Commerce in Italy to excellent companies in Italy. Marking their seventeenth year, these awards honor Spanish companies operating in Italy that exemplify excellence through their values, innovation, and growth potential within the Italian market, fostering a positive image of Spanish businesses.

The Board of Directors of the Chamber, comprising executives from leading Spanish and Italian businesses, has recognised CaixaBank for establishing its new branch in Italy this year. This move underscores CaixaBank's unwavering commitment to the Italian market and the growth of its CIB division across Europe.

In early 2023, the bank was granted a banking license in Italy, enabling its team to manage clients directly within the country and offer a comprehensive range of financial and banking services to large Italian corporations and multinationals (large corporates). These services include checking accounts, deposits, short- and long-term financing, working capital solutions, and foreign trade. CaixaBank established  a presence in Italy in 2000 and has maintained a presence through a representative office that served as a bridge between Italian and multinational companies operating in the country and CaixaBank's CIB team in Spain.

The establishment of the Italian branch marks another milestone in CaixaBank's strategic initiative to transform its representative offices across Europe into fully licensed banking branches. This trend commenced in 2016 with the UK office, followed by Germany in 2017 and France in 2018. With the addition of Italy, CaixaBank now boasts a global network of seven operational branches, spanning the United Kingdom, France, Germany, Italy, Portugal, Poland, and Morocco. This expansion aligns seamlessly with CaixaBank's unwavering commitment to international business, as outlined in its 2022-2024 Strategic Plan. In this way, CaixaBank continues to reinforce its commitment to international business, as established in its 2022-2024 Strategic Plan.

CaixaBank's international presence

CaixaBank's international network offers support to the bank's business clients that operate abroad, as well as to businesses located in the 72 countries where CaixaBank provides coverage via a team of 200 professionals in nearly 30 international locations and agreements with more than 1,800 correspondent banks. This network represents 82% of the world's GDP and 94% of international trade in Spain.

This network is made up of seven branches - Germany, France, the United Kingdom, Italy, Poland, Portugal and Morocco - and 17 representative offices spread across the five continents: Istanbul (Turkey), Beijing, Shanghai and Hong Kong (China), Singapore, Dubai (United Arab Emirates), New Delhi (India), Cairo (Egypt), Algiers (Algeria), Johannesburg (South Africa), New York (USA), Santiago de Chile (Chile), Bogotá ( Colombia), Sao Paulo (Brazil), Lima (Peru), Sydney (Australia) and Toronto (Canada).

The financial institution also has two banking subsidiaries: the Portuguese Banco BPI, which is the fourth largest financial institution in the country in terms of assets, and CaixaBank Wealth Management Luxembourg, which is exclusively dedicated to wealth management in multiple jurisdictions.

It also has two Spanish Desks in the Austrian Erste Bank (Vienna) and in the Mexican Inbursa (Mexico City) to provide service to CaixaBank client companies in these markets.

CaixaBank's International Banking is the only international network of a Spanish bank certified by AENOR.