Spanish Bank Created with International Calling


Isidro Fainé

Isidro Fainé Inquiring minds are in southwest Europe where an interesting the way to start a business happened…international calling:

CaixaBank, the bank into which the Catalan savings bank La Caixa has been converted, is born with ”international calling”. This claim was made today in Barcelona during the presentation of the 2010 results of the financial institute by its chairman Isidre Fainé. “The board of directors decided yesterday to create a bank”, said Fainé, quoted by Europa Press.

La Caixa closed the year 2010 with a result of 1.3 billion euros, 13.4% less than in the previous financial year. The savings bank booked 2.651 billion in commissions to deal with insolvencies and recorded a default rate of 3.71%.

Its core capital by the end of 2010 reached 8.6%, with a Tier-1 of 9.9%, ”much higher than the level that is required by the government” of savings banks for their recapitalisation.

The coverage rate was raised to 70%, and the liquidity level by the end of 2010 was 19.638 billion euros.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: