CaixaBank earns €970 million in third quarter, less than last year due to integration of Barclays Bank SAU

October 28, 2016 06:27 PM | ACN

CaixaBank, Catalonia's largest financial group and one of the most significant companies in the whole of Spain, reported this Friday net attributable profit of €970 million for the first nine months of 2016, down 2.6% on the same period of 2015, which included a number of one-off impacts associated with the integration of Barclays Bank, SAU. Pre-tax profit amounted to €1,314 million, up 45.2% in comparison to last year.  Impairment losses on financial assets and others totalled €1,177 million, a 33.3% decreased in comparison to last year on account of the reduction in loan-loss provisions.

Spanish banks suggest they might leave Catalonia if it becomes independent

September 18, 2015 07:54 PM | ACN / Sara Prim

The Spanish Bank Association (AEB in Spanish) and the Spanish Confederation of Saving Banks (CECA in Spanish) warned about the “risks” of Catalonia’s independence. In an official announcement made this Friday, both associations assured that all banks with a presence in Catalonia “would face severe problems of judicial insecurity” in the event of a Unilateral Declaration of Independence after the 27-S elections. They outlined that “any political decision which would imply breaking the rules in force” would result in “exclusion from the EU and the Eurozone” for Catalonia. The Catalan Finance Minister, Andreu Mas-Colell, described the Spanish government as “being irresponsible” for pushing the banking sector to be against the independence of Catalonia. He regretted that such “a delicate sector” was used as an “artillery weapon”. 

Veremonte quits BCN World but plans for the multibillion casino, hotel and shopping resort go on

June 4, 2015 09:40 PM | ACN

Veremonte has walked out on the BCN World project, the largest holiday resort in Europe based in the Costa Daurada, near Tarragona, as first announced by the Catalan Business Minister, Felip Puig, on Thursday and later confirmed by the company itself. However, Puig has assured that this will not impede the project's continuation as companies such as Melco, Hard Rock, Grup Peralada and Value Retail remain committed to it. Veremonte did not provide any further details about its decision. The investment company was initially leading the initiative and had reached an agreement with La Caixa bank to buy 500 hectares of land in 2012. However, it missed the final deadline last December to do so and the Catalan Government had to jump in to guarantee the project's continuation, reaching an agreement with La Caixa for the land. However, Veremonte was still linked to the initiative through the casino licences' tender, which it bidding for in partnership with Hard Rock and Melco.