• The British publication chose CaixaBank, the leader in the Spanish retail banking market, as the Best Bank in Spain for the fourth time in six years.
• The accolade recognises the financial institution’s competitive standing and growth, the incorporation of BPI, its commitment to digitisation, and resolute social engagement.
CaixaBank has been named as the Best Bank in Spain 2017 by British magazine Euromoney. This is the fourth time that the bank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, has won this accolade. The magazine had previously paid tribute to CaixaBank’s leadership and financial strength in 2012, 2013 and 2015. On this occasion, the British magazine further underscored CaixaBank’s sustained growth via the integration of BPI, which has further enhanced its competitiveness. Other decisive factors behind the award were the unrelenting digitisation of processes and products, as well as the bank’s outstanding record of accomplishment in terms of social engagement.
According to CaixaBank Chairman Jordi Gual, the Best Bank in Spain 2017 award is recognition for the bank’s commercial and social performance. “30% of retail customers in Spain choose our bank, while our leadership has now extended to the entirety of the Iberian Peninsula thanks to BPI. Furthermore, the reference to our responsible management is incentive to further drive our social engagement, via financial inclusion programmes, housing assistance initiatives, and corporate volunteering”, said Gual.
Gonzalo Gortázar, CEO of CaixaBank, pointed to the bank’s hallmark commitment to spearheading the digital transformation of the financial industry: “43% of retail customers operate with us digitally, meaning we serve more than 5 million digital users. The majority of these customers also come to our branches, endorsing CaixaBank’s multichannel strategy and pledge to enhance the role that branches play as consultancy centres”.
CaixaBank’s commercial efforts to engage with retail customers have established it as the leader in key retail products and services, such as direct deposit for salaries (market share of 25.9%), pension plans (23.2%), and life insurance (25.3%). Technology and digitisation play a major part in the CaixaBank business model, with 90% of processes now digitised, digital signatures reaching 97% of the total, and having deployed 26,511 smart PCs. This commercial standing is underpinned by a robust financial position, which allowed CaixaBank Group to secure a fully-loaded Common Equity Tier 1 (CET1) ratio of 11.5% as per March 31, within the target range established in the 2015-2018 Strategic Plan (11-12%). Total fully-loaded capital stood at 15.1% at the end of March.
International accolades for CaixaBank
This is the second award bestowed upon CaixaBank by Euromoney in 2017. In February the magazine chose the bank as the best private banking operator in Spain for the third consecutive year. The publication also acknowledged CaixaBank Private Banking in 9 other categories: specialised services for super affluent clients, net-worth-specific services, asset management, philanthropic consultancy, socially responsible and social impact investment, tech innovation and back office systems, family office services, asset analysis and management, and succession planning and trusts.
In May CaixaBank won the title of Best Bank in Spain 2017 from Global Finance for the third consecutive year. According to the panel of judges at the New York-based magazine, CaixaBank warranted this accolade for its ability to accommodate emerging customer requirements amid a challenging market scenario and environment, while posting the best results of its peers and “laying the foundations for future success”.
Euromoney is a London-based financial magazine that is highly influential in capital markets. Founded in 1969, it is a globally prestigious 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.