Spain's best domestic private bank 2023: CaixaBank
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Spain's best domestic private bank 2023: CaixaBank

The numbers paint a clear picture of CaixaBank’s prime position in the Spanish market - more than 900 professionals, almost 3,900 branches and over €113.6 billion in assets under management. The bank’s well established CaixaBank Wealth brand for high-net worth customers has 77 account managers serving over 2,330 customers with total assets of €18.2bn.

Never content to rest, however, CaixaBank continued to expand its private banking product suite in 2022. In July, the firm launched a new independent advisory private banking service for clients with lower balances, but providing the same impressive attention to cost efficiency. By October, the firm had almost 2,700 customers on the new service and more than €4.3bn under management. Last year also saw the launch of OpenWealth, a new global advisory service offering multi-family office services to customers regardless of where they bank.

The firm’s desire to optimise interaction drives it to measure customer satisfaction across almost every interaction using Net Promoter Score (NPS). Clients can choose an entirely digital engagement with their investment manager or opt for in-person meetings. An omnichannel approach combined with a range of digital tools increases contact and the quality of contact with customers. This consummate effort to improve client experience saw the private banking NPS score reach an all-time high of 88 in November 2022.

When it comes to sustainable financial advice, the firm has assumed a leading position in the Spanish market. CaixaBank AM claims more assets under management in impact investing than any of its competitors. In wealth management, the bank offers an unrivalled five different impact investment funds.

What's more, CaixaBank was the first financial institution in Spain to provide a philanthropic advisory initiative through its Socially Responsible Investment Project. With such an all-court game, the bank’s win for Best Domestic Private Bank in Spain comes as no surprise.

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