CaixaBank

CaixaBank is a Spanish multinational financial services group headquartered in Valencia, with important operating offices in Barcelona and Madrid. It provides universal banking services spanning retail banking, business and corporate banking, investment banking, wealth management, asset management, payments and insurance. The group is closely associated with the wider la Caixa ecosystem and combines a large domestic distribution network with digital channels and specialist financial businesses. The institution's modern corporate history began in 2007, when Criteria CaixaCorp was created as a listed investment vehicle for the holdings of La Caixa, the Catalan savings-bank group. Criteria entered the Spanish stock market in one of the country's largest initial public offerings at the time and joined the IBEX 35 in January 2008. In 2011, the structure was reorganized: Criteria was renamed CaixaBank and absorbed La Caixa's banking and insurance operations. Many industrial investments were separated into Criteria CaixaHolding, while CaixaBank retained the core banking platform and selected financial and strategic holdings. CaixaBank expanded during the restructuring of Spain's banking industry. In 2012 it merged with Banca Cívica, a combination that made it Spain's largest bank by domestic scale at that point. Later that year it agreed to acquire nationalized Banco de Valencia, with the transaction supported by Spain's bank-resolution framework and the Fund for Orderly Bank Restructuring. These transactions increased the group's customer base, branch presence and exposure to regions affected by the Spanish financial crisis, while also making integration and balance-sheet normalization important management priorities. The company has maintained one of the broadest branch networks in the Spanish market and serves millions of customers through branches, ATMs, digital banking and mobile services. Its business scope includes current accounts, savings, lending, mortgages, cards, payments, investment products, business finance, treasury and capital-markets services, asset management and insurance. CaixaBank also operates through specialist subsidiaries and partnerships, including businesses connected with consumer finance, investment management and insurance. In October 2017, amid political uncertainty in Catalonia, CaixaBank moved its legal headquarters and subsequently its tax domicile to Valencia. In 2020 it entered merger negotiations with Bankia. The acquisition was completed in 2021, creating Spain's largest domestic banking group by several measures and significantly enlarging CaixaBank's balance sheet, customer base and public-sector shareholder presence. Following the transaction, Criteria Caixa and the Spanish state, through FROB and BFA Tenedora de Acciones, became substantial shareholders, alongside public investors. CaixaBank is listed on the Bolsa de Madrid and forms part of the IBEX 35. It has been classified as a significant institution under European Banking Supervision and is directly supervised by the European Central Bank. Its positioning emphasizes scale in Spanish retail banking, extensive physical distribution, digital transformation, financial inclusion and a broad product offering for households, companies and institutions.

CaixaBank's corporate lineage is rooted in La Caixa, a Spanish savings-bank group whose banking and insurance activities were reorganized into a listed structure during the transformation of Spain's financial sector. In 2007, Criteria CaixaCorp was formed as a public investment vehicle for La Caixa's holdings in financial and industrial companies. Its initial public offering was one of the largest in Spain at the time, and the company entered the IBEX 35 in January 2008. The decisive institutional change occurred in 2011. Criteria was renamed CaixaBank and became the vehicle for La Caixa's universal banking and insurance operations. Many industrial assets were transferred to a separate entity, Criteria CaixaHolding, allowing CaixaBank to focus more clearly on banking, insurance and other financial activities. The reorganization created the modern CaixaBank brand and established the foundation for later consolidation. In 2012, CaixaBank announced a merger with Banca Cívica. The transaction was completed during the third quarter and enlarged the bank's domestic franchise. In November of the same year, CaixaBank announced its intention to purchase Banco de Valencia, a nationalized institution supported by Spain's restructuring mechanism, FROB. The acquisition took place against the background of the 2008–2013 Spanish financial crisis, when the government and European authorities were restructuring savings banks and troubled lenders. CaixaBank also adjusted its branch network during this period as the sector responded to falling property values, funding pressures and changing customer behavior. The group continued to develop its retail, corporate, investment and insurance businesses while maintaining a large Spanish distribution network. In 2014, Gonzalo Gortázar became chief executive officer after Juan María Nin resigned as deputy chairman and CEO. Management identified balance-sheet normalization and funding conditions as central priorities during the post-crisis recovery. CaixaBank was designated a significant institution when European Banking Supervision began operating in late 2014, placing it under direct European Central Bank supervision. In October 2017, the company moved its legal headquarters to Valencia in response to political uncertainty in Catalonia and subsequently moved its fiscal domicile there as well. This decision changed the formal location of the group without altering its continuing operations in Spain, including offices and business activity in Barcelona and Madrid. CaixaBank entered a new phase of consolidation in 2020 when it and Bankia confirmed merger negotiations. The acquisition was completed in spring 2021. It created one of Spain's largest banking groups, with a broader customer base, balance sheet, branch network and product platform. The combined organization also introduced a major public-sector shareholder through FROB and BFA Tenedora de Acciones, while Criteria Caixa remained a substantial shareholder. Today, CaixaBank operates as a listed Spanish universal bank with retail, business, corporate, institutional, investment, asset-management and insurance activities. It serves customers through physical branches and digital channels and remains subject to direct supervision as a significant euro-area institution.

1. 2021Bankia acquisition completed

   The Bankia acquisition was completed, creating a larger combined Spanish banking group.

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2. 2017Headquarters moved to Valencia

   The bank moved its legal headquarters and later its tax domicile to Valencia.

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3. 2014Gonzalo Gortázar becomes CEO

   Gonzalo Gortázar was appointed chief executive officer.

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4. 2012Banca Cívica merger

   CaixaBank completed its merger with Banca Cívica.

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5. 2012Banco de Valencia acquisition announced

   CaixaBank announced its agreement to acquire nationalized Banco de Valencia.

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6. 2011Creation of modern CaixaBank

   Criteria was renamed CaixaBank and absorbed La Caixa's banking and insurance activities.

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7. 2008IBEX 35 inclusion

   Criteria CaixaCorp was added to Spain's IBEX 35 index in January.

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8. 2007Criteria CaixaCorp is established

   La Caixa created Criteria CaixaCorp as a listed vehicle for industrial and financial holdings.

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A large-scale Spanish universal bank combining an extensive branch network with digital banking, insurance, wealth management and corporate financial services.

• Retail bankingBanking

  CaixaBank's retail franchise provides everyday banking for individuals, including accounts, deposits, payments, cards, personal lending and access to branch and digital channels. Its scale and extensive domestic network make household banking a central part of the group's universal-bank model.

• Mortgages and consumer financeLending

  The group offers residential mortgages and consumer-credit products to households. These services form part of its broader lending platform and are distributed through its branch network and digital banking channels.

• Business and corporate bankingBanking

  CaixaBank finances small businesses, self-employed customers, mid-sized companies, large corporations and institutional clients. Services include lending, cash management, payments, treasury and other corporate financial solutions.

• InsuranceInsurance

  Insurance is part of the banking group's integrated financial-services offering. CaixaBank distributes protection, savings and related insurance products alongside retail and wealth-management services.

• Asset and wealth managementInvestment services

  The group provides investment, asset-management and wealth-management services for retail, affluent, institutional and corporate customers. These activities complement its deposit, lending and insurance businesses.

• Digital bankingFinancial technology

  Digital banking and mobile services extend CaixaBank's account, payment, lending and investment capabilities beyond branches. Digital distribution is a core element of the group's effort to combine national scale with more convenient customer access.

• 2021Complete Bankia acquisitionM&A

  CaixaBank and Bankia began negotiating a potential combination in 2020 amid continued consolidation in Spain's banking market.

  What changed. CaixaBank completed the acquisition of Bankia in spring 2021.

  Aftermath. The transaction created one of Spain's largest domestic banking groups and materially expanded its assets, customers and shareholder base.

  Source
• 2017Move legal and fiscal domicile to ValenciaStrategy

  Political uncertainty in Catalonia prompted several companies to reconsider their registered headquarters.

  What changed. CaixaBank moved its legal headquarters to Valencia and subsequently moved its fiscal domicile there.

  Aftermath. Valencia became the group's formal headquarters location while the bank retained important operating offices in Barcelona and Madrid.

  Source
• 2012Merge with Banca CívicaM&A

  Spanish banking consolidation accelerated during the financial crisis and restructuring of savings banks.

  What changed. CaixaBank announced and completed the merger with Banca Cívica during 2012.

  Aftermath. The combination expanded CaixaBank's domestic scale and helped make it Spain's largest bank by domestic presence at that time.

  Announced valuation of Banca Cívica. €977 million valuation (2012)

  Source
• 2012Acquire Banco de ValenciaM&A

  Banco de Valencia had been nationalized during Spain's banking crisis and was supported by the country's resolution framework.

  What changed. CaixaBank announced a plan to acquire Banco de Valencia after FROB support measures.

  Aftermath. The transaction extended CaixaBank's franchise and formed part of the consolidation of Spain's troubled banking sector.

  FROB capital injection into Banco de Valencia. €4.5 billion (2012)

  Source
• 2011Reorganize La Caixa's banking activities into CaixaBankStrategy

  La Caixa reorganized its listed investment vehicle and operating businesses during the restructuring of Spain's savings-bank sector.

  What changed. Criteria CaixaCorp was renamed CaixaBank and received the group's banking and insurance activities, while many industrial holdings were separated into Criteria CaixaHolding.

  Aftermath. The transaction established CaixaBank as a focused listed banking and financial-services group.

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• 2021CaixaBank completes Bankia acquisition

  The acquisition of Bankia was completed, creating a substantially larger Spanish banking group.

  M&A
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• 2020CaixaBank and Bankia confirm merger negotiations

  The two Spanish banking groups confirmed discussions concerning a potential combination.

  M&A
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• 2017CaixaBank changes legal headquarters to Valencia

  The bank moved its legal headquarters and later its tax domicile from Catalonia to Valencia amid political uncertainty.

  Regulation
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• 2012CaixaBank completes Banca Cívica merger

  CaixaBank announced and completed its combination with Banca Cívica, expanding its domestic banking scale.

  M&A
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• 2012CaixaBank agrees to acquire Banco de Valencia

  The bank announced a plan to acquire nationalized Banco de Valencia within Spain's bank-resolution framework.

  M&ARegulation
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• 2011Criteria becomes CaixaBank through banking reorganization

  The group transferred La Caixa's banking and insurance activities into the listed vehicle and renamed it CaixaBank.

  M&A
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• 2008Criteria CaixaCorp joins the IBEX 35

  The listed company was promoted to Spain's IBEX 35 index in January.

  Other
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• 2007Criteria CaixaCorp is created as a listed investment vehicle

  Criteria CaixaCorp was established to hold La Caixa's industrial and financial investments and began trading publicly.

  Other
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1. CaixaBank
2. CaixaBank official website