Awards for Excellence 2019
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Spain’s banking sector can rest assured that it has been in the vanguard of the wider transformation of Europe’s banking sector since the 2008 and 2011 crises – in particular in the shift away from the model of regionally focused and foundation-controlled savings banks.
The bank that is emblematic of the most successful elements of this Spanish shakeup is CaixaBank, western Europe’s best bank transformation. The last year has seen the rationale and benefits behind CaixaBank’s 2011 listing come to fruition, as it reached a return on equity of almost 10% from low single digits earlier this decade.
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