CaixaBank inaugurates its representative office in the UAE

As part of its international growth strategy for the Gulf region

• CaixaBank, one of the ten largest banks in the Eurozone, provides support to Spanish businesses in Gulf countries and offers investment opportunities to the region's leading companies and investment funds.
• Juan María Nin, Deputy Chairman and Chief Executive Officer of CaixaBank, attended the official opening, after taking part in the Global Arab Business Meeting, where he spoke about the potential for relations between Spain and the Gulf states.

The official opening took place today in Dubai and was attended by Juan María Nin, CaixaBank's Deputy Chairman and Chief Executive Officer, who said that "our presence in the United Arab Emirates illustrates our intention to accompany customers in their international growth and to act as a channel for investors from Gulf countries to do business in the Spanish market, where we have earned the trust of 10.5 million customers, thanks to our financial strength and excellence in service".

Good relations with Gulf banks

At its new Dubai office, run by Maya Khelladi, a professional with extensive experience in the Gulf, CaixaBank will be able to identify and assess business opportunities from the region's financial centre, supported by its close and excellent relations with more than 50 banks in the Gulf area.

In the first half of 2011 CaixaBank handled 10% of all trade flows between Spain and Gulf countries. Spanish companies have been operating in the region for some time and in a wide range of sectors, including textiles, footwear, construction materials and agrifood, as well as other industries that are recording powerful growth, such as construction, engineering and renewable energies. Its presence in UAE will allow CaixaBank to enhance its role in the region as a broker in project financing. Last year, the trade flow between the Gulf States and Spain totalled 7,900 million euros, well above the 3,000 million euros recorded ten years ago.
 
The new UAE representative office forms part of CaixaBank's international strategy, which has seen offices also opened in London (United Kingdom), Paris (France), Milan (Italy), Stuttgart and Frankfurt (Germany), Istanbul (Turkey), Beijing and Shanghai (China), Delhi (India) and Singapore. CaixaBank also has its own branches in Warsaw (Poland), Bucharest (Romania) and Casablanca (Morocco), where it was the first Spanish bank to open a branch. In addition, CaixaBank has bilateral agreements with more than 2,500 international banks, aimed at supporting the international operations and foreign trade of companies and individuals anywhere in the world.

CaixaBank also holds stakes in banks based in various countries, with which it has developed partnership strategies to provide mutual support for businesses and customers. The bank has a 20% stake in the Mexican bank GFInbursa, 30.1% of Banco BPI in Portugal, 15.7% of The Bank of East Asia based in Hong Kong, 10.1% of the Austrian entity Erste Bank and 20.7% of Boursorama in France.

Nin takes part in the Global Arab Business Meeting

During his visit to the United Arab Emirates, Juan María Nin also attended the Global Arab Business Meeting, held in the emirate Ras Al Khaimah, where he was the only speaker from Spain. The meeting brought together more than 300 representatives from the international business and financial community. In his talk Juan María Nin explained that "the dynamism and strategic location of the Gulf region, geographically placed on natural-resource-rich soil at the crossroads of three continents, make the Gulf region increasingly important for the world economy and more attractive than ever to foreign enterprises".

Nin added that "the burgeoning bilateral relationship between Gulf countries and Spain proves that there is ample room for mutually enriching cooperation". The CaixaBank Deputy Chairman and Chief Executive Officer went on to say that "the continuing efforts by the Spanish and GCC authorities to maintain an open and effective dialogue at all levels of government provide a solid foundation for building bridges: social, cultural, and commercial".

Corporate information

CaixaBank is an integrated financial group, with a banking business, insurance operations and investments in international banks and in leading service companies such as Repsol and Telefonica. It is the leading retail bank in Spain, where it began its financial enterprise more than 100 years ago. It puts strong emphasis on growth both domestically and internationally, supported by its demonstrated experience in investment in the banking sector and its characteristic prudence.

CaixaBank shares with Caja de Ahorros y Pensiones de Barcelona-"la Caixa", its main shareholder, a commitment to people and their environment, aiming to create value for shareholders as well as making a firm contribution to general society. In this regard, Caja de Ahorros y Pensiones de Barcelona, via "la Caixa"s social welfare foundation, finances and maintains social, educational, cultural and scientific programs with an annual budget of 500 million euros, making it the second largest European foundation and the fifth largest in the world.

CaixaBank group aims to create a universal banking model that provides personalized, high-quality and innovative services that are adapted to the needs of its 10.5 million customers. The sales staff (28,284) at CaixaBank's extensive network of branches (5,247) are at the heart of relations between the bank and its customers, supported by an efficient and forward-looking multi-channel distribution system.

The bank manages over 436,900 million euros in banking business, according to figures from 30 June 2011, with total customer deposits of more than 248,000 million euros. One area that the bank has been emphasizing in recent years is banking services to businesses, with CaixaBank now serving more than 380,000 business customers.

CaixaBank is also the leader in penetration in the Spanish retail banking market, where it continues to extend its market shares in various banking products and services. Based on its leadership in banking for individuals, its strategic target is to position itself as a benchmark operator in other segments, such as Business Banking, Personal Banking, Private Banking and SME Banking. Thus, by properly segmenting its customers, CaixaBank can offer personalized and high-quality services.