CatalunyaCaixa (Catalan pronunciation: [kətəˌluɲəˈkaʃə]) was the trading name of Catalunya Banc S.A.,[2] a Catalan bank with headquarters in Barcelona and owned by Banco Bilbao Vizcaya Argentaria (BBVA), and absorbed by it in 2016.[3][4] Its area of influence is located mainly in Catalonia. It was the fourth-largest savings bank in Spain in terms of consolidated assets, with €81.020 billion.[1]
 | |
| Company type | Bank |
|---|---|
| Industry | Financial services |
| Headquarters | , |
Key people | Adolf Todó i Rovira (CEO) |
| Products | Consumer Banking Corporate Banking |
| Total assets | €81.020 billion (2010)[1] |
Number of employees | 8,000 (2010)[1] |
| Parent | BBVA |
| Website | www.catalunyacaixa.com |
It was founded on 1 July 2010 by the fusion of Caixa Catalunya, Caixa Tarragona and Caixa Manresa. The new savings bank had 1,212 branches and over 4 million customers.[1]
During 2011 and 2012, CatalunyaCaixa received a total of €12.052 billion capital investment from the Spanish government's Fondo de Reestructuración Ordenada Bancaria (Fund for Orderly Bank Restructuring). The September 2011 capital injection effectively nationalised the bank, raising FROB's ownership to 89.74%.[5]
In 2015, CatalunyaCaixa was purchased by Spanish banking group BBVA for a total of €1.187 billion.[6][7]
On March 31, 2016, the boards of directors of BBVA and Catalunya Banc agreed to begin the process of merging, with the Catalan bank being integrated into BBVA. Catalunya Banc, operating under the commercial brand CatalunyaCaixa, had been part of this banking group since April 2015, with BBVA directly holding 98.4% of its share capital.[4] On May 13, 2016, the shareholders' meeting of Catalunya Banc approved the integration of the Catalan entity into BBVA.[8] On September 1, 2016, BBVA and Catalunya Banc formalized the merger deed, by which the bank presided over by Francisco González absorbed the latter, after obtaining authorization from the Ministry of Economy and completing the other procedures established by law.[3]
On April 24, 2019, BBVA announced that it would unify its brand across all the markets in which it operated.[9]
References
edit- ^ a b c d "Caixa d'Estalvis de Catalunya, Tarragona i Manresa" (PDF). Archived from the original (PDF) on 21 August 2010.
- ^ "CatalunyaCaixa will be the name of the second Catalan savings bank". Catalan News Agency. 9 September 2010. Archived from the original on 13 March 2012.
- ^ a b "BBVA formaliza la absorción de Catalunya Banc". Expansión.com (in Spanish). 2016-09-01. Retrieved 2024-08-19.
- ^ a b "BBVA y Catalunya Banc inician el proceso para su fusión". eleconomista.es. 2016-03-31. Retrieved 2024-08-19.
- ^ "Notas informativas". Fondo de Reestructuración Ordenada Bancaria. 30 September 2011. Archived from the original on 26 February 2014.
- ^ "El BBVA se hace con Catalunya Banc con una oferta mejor que Santander y Caixa". Diario ABC (in Spanish). 2014-07-21. Retrieved 2024-08-19.
- ^ "BBVA completa la compra de Catalunya Banc y asume el control mayoritario de la entidad". ELMUNDO (in Spanish). 2015-04-24. Retrieved 2024-08-19.
- ^ Botías, Max Jiménez (2016-05-13). "Adiós a Catalunya Banc". www.elperiodico.com (in Spanish). Retrieved 2024-08-19.
- ^ "BBVA unifica su marca en todo el mundo y presenta un nuevo logo". Diario ABC (in Spanish). 2019-04-24. Retrieved 2024-08-19.
External links
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