Spain’s saving banks seek new funding strategies
Principal portfolio holdings of the cajas
Spanish housing market: Crisis? What crisis?
The relatively small caja based in Pamplona in the Navarra region of northern Spain provides a great example of how Spain’s cajas have pioneered innovative strategies to win market share against the commercial banks in an ultra-competitive banking market. Caja Navarra’s strategy, which it calls civic banking, draws on what it sees as the cajas’ unique strength: their close connection with the communities and organizations to which they were founded to be benefactors.
“Social considerations should make people more keen to choose cajas as their banks, but that often doesn’t happen because people don’t feel involved in the cajas’ social works,” says Iñaki Iraizoz, head of strategy at Caja Navarra.
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