The Spanish Minister for the Economy, Luís de Guindos, wants to speed up the process and have the entire Spanish banking system restructured before the summer. The Spanish Minister also said that he is expecting further concentration processes...
The Catalan Government has been issuing retail bonds over the last two years as a regular way of financing its liquidity. All the previous issues have been a success, with high demand. Between April 2nd and April 24th Catalan citizens will be...
After not having found the needed private investors to meet the required levels of core capital, the Bank of Spain’s Governor announced that the Spanish State would intervene in four savings banks, including two from Catalonia. The State will...
Unnim and CatalunyaCaixa would have 4.5% and 4.8% of core capital respectively. However, the provisions that all Spanish banks must have to face difficult times have not been taken into account as they did not exist in other European banking...
A new study by the Catalan savings bank corrects and improves the previous economic forecast. It is now believed that in 2011, Catalonia will grow at a 1.1% annual rate, and at 1.6% in 2012. However, without the public sector budget cuts, the...
A Barcelona-based newspaper announced in its Tuesday edition that the two Catalan savings banks would see a state intervention and would be nationalised by the Spanish Government and the Bank of Spain this summer. CatalunyaCaixa has denied the...
The board of the Catalan savings bank decided to “temporarily” use public capital in order to meet the new requirements in the sector. This move means it will reach 10.4% of ‘core capital’. Private capital is expected to increase its...
However, the Catalan bank does not close the door to integrating a financial entity in the future. Banc Sabadell wants to take advantatge of the restructuring process of the financial system to grow throughout Spain, told its President Josep Oliu.
CatalunyaCaixa won 109.1 million euros in 2010, 1.1% less than in 2009. The second Catalan savings bank is the result from the merger of Caixa Catalunya, Caixa Tarragona and Caixa Manresa. The resulting savings bank currently has 6.9% of core...
