The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Western Europe's best bank transformation 2019: CaixaBank

Awards for Excellence 2019

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. 

Caixa has become a clearer and more attractive story for investors, completing its journey from a quasi-conglomerate, with financial and industrial stakes and a big portfolio of non-core real estate exposures, to a cleaner and more coherent Iberia-wide bancassurance business – one fit for the digital era.

A series of mergers between 2011 and 2015 laid the groundwork for this change, as CaixaBank made good use of its relative health after the eurozone crisis to secure the biggest share of Spanish retail banking across Spain’s regions. 

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree