- Corporate information
CaixaBank is the leading financial group in the Spanish market both in banking and insurance and is developing a strategy of diversification with stakes in international banks and leading service companies, and is the result of banking and financial tradition that began in 1904 with the foundation of Caja de Ahorros y Pensiones de Barcelona, ”la Caixa”, which started out with the management of family savings, and offered its clients a pension insurance a full century before this type of social benefit was established.
From the very beginning, ”la Caixa” was defined by a strong social commitment. Through Obra Social, it developed social and charitable action to offer solutions to new challenges and social requirements. Additionally, it worked for the creation of opportunities for people. Thus, a great part of its activity was focused on attention to less favoured people with a higher risk of exclusion. In 2014, and for the seventh consecutive year, the funding for Obra Social remains at €500M.
Furthermore, ”la Caixa”, through CriteriaCaixa, is developing an investment strategy though stakes in businesses in different economic sectors that are essential for the community, which include in particular Abertis (transportation and communications infrastructure management), Gas Natural Fenosa (energy distribution), Aguas de Barcelona (water distribution), SABA (management of parking lots and logistics parks) and real estate services.
”la Caixa” transferred its financial business to CaixaBank in June 2011 and, later on, in June 2014, “la Caixa” became Fundación Bancaria Caixa d’Estalvis i Pensions de Barcelona, “la Caixa”, in compliance with the Law on Savings Banks and Banking Foundations of 27 December 2013.
Within the transformation process, the following agreements have also been reached: on the one hand, the dissolution and liquidation of the “la Caixa” Foundation, which transfers its activity to the Banking Foundation, and on the other hand, the transfer of the “la Caixa” shares in CaixaBank in favor of CriteriaCaixa - integrally held by “la Caixa” - so that the “la Caixa” Banking Foundation will go on to hold a share in CaixaBank through Criteria.