- Press Releases
The Caixa d’Estalvis i Pensions de Barcelona Banking Foundation (“la Caixa” Banking Foundation), has transferred its 58.91% stake in CaixaBank to Criteria CaixaHolding, a solely-owned subsidiary of the Banking Foundation.
From now on, the “la Caixa” Banking Foundation will manage all welfare projects, an area which was previously the remit of “la Caixa”.All other activities will be carried out by Criteria CaixaHolding which will manage the “la Caixa” Group's stakes in non-financial sectors, as before, as well as the stake in CaixaBank, in addition to debt issuances by the “la Caixa” Banking Foundation.
The transfer of the CaixaBank stake to Criteria is intended to separate functions when managing the various activities of the “la Caixa” Group.
This operation is part of the transformation of “la Caixa” into a banking foundation. The move was effective on 16 June with the registration of the “la Caixa” Banking Foundation in the State Foundations Registry in accordance with the provisions of the Law on Savings Banks and Banking Foundations of 27 December 2013.
The “la Caixa” Banking Foundation, chaired by Isidro Fainé, has a charitable fund of €5,868 million, equivalent to 0.6% of Spain's current GDP, and manages a budget of €500 million for welfare projects. Moreover, it has net assets of €20,000 million, making it the largest foundation in mainland Europe and the third largest worldwide.