Probably the fact they came from Euskadi and were based there is what saved the former Basque cajas (savings banks) from the worst vices which destroyed hundreds of lenders throughout Spain, according to Xabier Sagredo, executive chairman of BBK.
spanish savings banks
Pablo Fernández | The “Report on the financial and banking crisis in Spain, 2008-2014” published by the Bank of Spain last May is 252 pages long, but omits important facts and dates. The most surprising thing is that it seems to assume that the financial and banking crisis in Spain was the result of “contagion” from the ‘”international financing crisis”.
A lot of matters need to be addressed in Spain’s banking sector in the next four years. Urgent matters are the full privatisation of Bankia and the irrelevant BMN; completing the transformation of the savings banks (La Caixa, Kutxabank, Ibercaja, Unicaja and Liberbank), the adjustment of Banco Popular and the retirement of the post-war bankers.
MADRID | April 24, 2015 | By Fernando G. Urbaneja | Bankia held its general meeting in Valencia (headquarters of one of the integrated in the brand new boxes) this week to approve its 2014 results –the year of the firm’s regeneration– and design its future roadmap. One of its non-explicit goals is to accelerate the partial and progressive privatization of the entity before November general elections in Spain.
MADRID | By Carlos Díaz Guell | The Spanish government has already made clear to the regional authorities that the old savings bank model must die for its sins.