CaixaBank has been recognised with the “Momentum Award for Confirming Bank 2023” at the Trade and Supply Chain Finance Program (TSCFP) Awards held by the Asian Development Bank (ADB). The award acknowledges CaixaBank as the confirming bank with the highest increase of transactions in the last year, considering both the number of transactions and their total volume.
In 2022, CaixaBank transacted more than €3 billion worth of trade finance programs with multilateral development banks. In Asia, where almost half of the total transactions are executed with ADB, CaixaBank reached a volume of €1.2 billion, representing an increase of more than 70% on the previous year.
The prizes were presented at the yearly TSCFP Awards which were held in Singapore and gathered 150 representatives of 45 banks participating in the programme. CaixaBank has participated in the TSCFP since 2004 as part of its firm commitment to boost foreign trade in emerging countries and to offer customers the best experience in the business financing process.
Through these programmes, CaixaBank furthers its position as a pioneering institution in terms of foreign trade finance solutions and strengthens its relationship with local banks in the jurisdictions that it operates in. CaixaBank has a commercial relationship with more than 1,800 international banks around the word to facilitate international.
CaixaBank's international presence
CaixaBank channels its international presence through its International Banking network of branches and representative offices worldwide and through cooperation agreements with first-rate international banks. CaixaBank also owns Portugal's Banco BPI, the fourth largest financial institution operating in Portugal in terms of assets.
CaixaBank's international network provides support to the bank's business customers that operate abroad, as well as to local corporations through the worldwide coverage offered by more than 210 specialists, nearly 30 international points of presence, and agreements with over 1,800 correspondent banks. This network provides access in 72 countries, which account for 82% of global GDP and 94% of Spain's international trade.
CaixaBank's International Banking network currently has branches in Germany, France, the United Kingdom, Italy, Poland and Morocco, as well as 17 representative offices on all five continents: Istanbul (Turkey), Beijing, Shanghai and Hong Kong (China), Singapore, Dubai (United Arab Emirates), New Delhi (India), Cairo (Egypt), Algiers (Algeria), Johannesburg (South Africa), New York (the USA), Santiago de Chile (Chile), Bogotá (Colombia), Sao Paulo (Brazil), Lima (Peru), Sidney (Australia) and Toronto (Canada).
It also has two Spanish Desk teams in Austria's Erste Bank (Vienna) and Mexico's Inbursa (Mexico City), to serve CaixaBank business customers in these markets.
]]>CaixaBank has been recognised with the “Momentum Award for Confirming Bank 2023” at the Trade and Supply Chain Finance Program (TSCFP) Awards held by the Asian Development Bank (ADB). The award acknowledges CaixaBank as the confirming bank with the highest increase of transactions in the last year, considering both the number of transactions and their total volume.
In 2022, CaixaBank transacted more than €3 billion worth of trade finance programs with multilateral development banks. In Asia, where almost half of the total transactions are executed with ADB, CaixaBank reached a volume of €1.2 billion, representing an increase of more than 70% on the previous year.
The prizes were presented at the yearly TSCFP Awards which were held in Singapore and gathered 150 representatives of 45 banks participating in the programme. CaixaBank has participated in the TSCFP since 2004 as part of its firm commitment to boost foreign trade in emerging countries and to offer customers the best experience in the business financing process.
Through these programmes, CaixaBank furthers its position as a pioneering institution in terms of foreign trade finance solutions and strengthens its relationship with local banks in the jurisdictions that it operates in. CaixaBank has a commercial relationship with more than 1,800 international banks around the word to facilitate international.
CaixaBank's international presence
CaixaBank channels its international presence through its International Banking network of branches and representative offices worldwide and through cooperation agreements with first-rate international banks. CaixaBank also owns Portugal's Banco BPI, the fourth largest financial institution operating in Portugal in terms of assets.
CaixaBank's international network provides support to the bank's business customers that operate abroad, as well as to local corporations through the worldwide coverage offered by more than 210 specialists, nearly 30 international points of presence, and agreements with over 1,800 correspondent banks. This network provides access in 72 countries, which account for 82% of global GDP and 94% of Spain's international trade.
CaixaBank's International Banking network currently has branches in Germany, France, the United Kingdom, Italy, Poland and Morocco, as well as 17 representative offices on all five continents: Istanbul (Turkey), Beijing, Shanghai and Hong Kong (China), Singapore, Dubai (United Arab Emirates), New Delhi (India), Cairo (Egypt), Algiers (Algeria), Johannesburg (South Africa), New York (the USA), Santiago de Chile (Chile), Bogotá (Colombia), Sao Paulo (Brazil), Lima (Peru), Sidney (Australia) and Toronto (Canada).
It also has two Spanish Desk teams in Austria's Erste Bank (Vienna) and Mexico's Inbursa (Mexico City), to serve CaixaBank business customers in these markets.
]]>CaixaBank has activated measures to support the people affected by the earthquake in Morocco and the floods in Libya, aiming to facilitate the transfer of money by individuals and the donations to NGOs working on the ground.
With this in mind, the bank has waived the cost of transfers made by individuals to Morocco and Libya through CaixaBank's network following the natural disasters. This measure will remain in place while the humanitarian emergency persists, in order to facilitate the transfer of money by individuals to people, companies and entities that need it in these countries.
In addition, CaixaBank has put in place a platform to channel the financial donations, at no cost, to humanitarian organisations that are assisting people affected by these disasters.
Through this donation campaign, any individual, whether a CaixaBank customer or not, can send their contribution to the main humanitarian organisations working in the affected areas, at no cost or fee.
In the case of Morocco, donations can be made through the platform to Cáritas, Intermon Oxfam, Red Cross, Comité de Emergencia and the UNICEF Spanish Committee Foundation's emergency fund. In the case of Libya, the platform will be operational over the next few days and will include the main social organisations working in this emergency.
The initiative is open for other organisations that prove their humanitarian work in the territory.
It is a simple, flexible and fast system which allows for financial contributions to be made through indicating an intention of collaborating with Morocco and selecting the organisation to receive the funds, without requiring the destination account number and at no cost for the donors and social organisations.
The contributions can be made through the CaixaBank branch network, as well as via its online channels (ATMs, www.caixabank.es and mobile app) and the imagin app.
CaixaBank Volunteering joins the humanitarian aid
The extensive CaixaBank Volunteering network is also looking at solidarity and aid activities for the affected population, in coordination with the organisations specialising in humanitarian aid.
In the case of Morocco, CaixaBank is in permanent contact with the team of professionals working and residing in Morocco to detect and activate actions in the most affected territories. CaixaBank has had a banking licence in Morocco since 2009, where it has three branches (in Casablanca, Tangier and Agadir). These branches provide foreign trade, business banking and corporate banking services to Spanish companies already established in the country or looking to enter the Moroccan market, as well as to large Moroccan businesses and multinationals.
About CaixaBank's Social Action
CaixaBank has a far-reaching social vocation. The bank is a benchmark in sustainable banking and believes in serving its customers and wider society.
In its response to the challenges facing society, , CaixaBank fosters social action initiatives and voluntary work, among other measures, and offers services and solutions for every demographic through its financial activity.
The strategy for Social Action is aimed at promoting joint projects with the "la Caixa" Foundation, as well as other partnerships directly promoted by CaixaBank. Thanks to its the CaixaBank branch network, which is the largest in Spain with more than 3,900 retail branches and presence in 2,200 municipalities, CaixaBank can support the "la Caixa" Foundation in detecting the needs of local social organisations.
CaixaBank’s sustainable activities have been recognised by leading international bodies. The Dow Jones Sustainability Index ranks it among the best banks in the world in terms of sustainability. Similarly, the international organisation CDP considers CaixaBank as the leading bank in the struggle against climate change.
]]>CaixaBank has activated measures to support the people affected by the earthquake in Morocco and the floods in Libya, aiming to facilitate the transfer of money by individuals and the donations to NGOs working on the ground.
With this in mind, the bank has waived the cost of transfers made by individuals to Morocco and Libya through CaixaBank's network following the natural disasters. This measure will remain in place while the humanitarian emergency persists, in order to facilitate the transfer of money by individuals to people, companies and entities that need it in these countries.
In addition, CaixaBank has put in place a platform to channel the financial donations, at no cost, to humanitarian organisations that are assisting people affected by these disasters.
Through this donation campaign, any individual, whether a CaixaBank customer or not, can send their contribution to the main humanitarian organisations working in the affected areas, at no cost or fee.
In the case of Morocco, donations can be made through the platform to Cáritas, Intermon Oxfam, Red Cross, Comité de Emergencia and the UNICEF Spanish Committee Foundation's emergency fund. In the case of Libya, the platform will be operational over the next few days and will include the main social organisations working in this emergency.
The initiative is open for other organisations that prove their humanitarian work in the territory.
It is a simple, flexible and fast system which allows for financial contributions to be made through indicating an intention of collaborating with Morocco and selecting the organisation to receive the funds, without requiring the destination account number and at no cost for the donors and social organisations.
The contributions can be made through the CaixaBank branch network, as well as via its online channels (ATMs, www.caixabank.es and mobile app) and the imagin app.
CaixaBank Volunteering joins the humanitarian aid
The extensive CaixaBank Volunteering network is also looking at solidarity and aid activities for the affected population, in coordination with the organisations specialising in humanitarian aid.
In the case of Morocco, CaixaBank is in permanent contact with the team of professionals working and residing in Morocco to detect and activate actions in the most affected territories. CaixaBank has had a banking licence in Morocco since 2009, where it has three branches (in Casablanca, Tangier and Agadir). These branches provide foreign trade, business banking and corporate banking services to Spanish companies already established in the country or looking to enter the Moroccan market, as well as to large Moroccan businesses and multinationals.
About CaixaBank's Social Action
CaixaBank has a far-reaching social vocation. The bank is a benchmark in sustainable banking and believes in serving its customers and wider society.
In its response to the challenges facing society, , CaixaBank fosters social action initiatives and voluntary work, among other measures, and offers services and solutions for every demographic through its financial activity.
The strategy for Social Action is aimed at promoting joint projects with the "la Caixa" Foundation, as well as other partnerships directly promoted by CaixaBank. Thanks to its the CaixaBank branch network, which is the largest in Spain with more than 3,900 retail branches and presence in 2,200 municipalities, CaixaBank can support the "la Caixa" Foundation in detecting the needs of local social organisations.
CaixaBank’s sustainable activities have been recognised by leading international bodies. The Dow Jones Sustainability Index ranks it among the best banks in the world in terms of sustainability. Similarly, the international organisation CDP considers CaixaBank as the leading bank in the struggle against climate change.
]]>To this end, the company has been advised by CaixaBank CIB&IB, and DNV has been in charge of verifying the Green Financing Framework, having issued a favourable independent opinion.
The Framework follows the Green Bond and Loan Principles set out by the International Capital Market Association (ICMA) and the Loan Market Association (LMA), as it encompasses short and long-term bond and loan financing products.
As a novelty, in updating the framework, a reference to the EU Taxonomy has been included in order to establish a link between the projects to be funded through this new version of the Framework and the sustainable activities defined in EU Taxonomy.
This innovative character allows the company, backbone of the FCC Group's environmental activities, to highlight its ambition to align the use of funds with a positive environmental impact with the climate mitigation and adaptation objectives of the EU Taxonomy Regulation. In this regard it should be noted that, according to the data reported for the 2022 financial year, approximately 83% of FCC Servicios Medio Ambiente's eligible activity is aligned with the objectives of EU Taxonomy.
All Green Projects incorporated in the Framework provide clear environmental benefits and promote the transition to low-carbon technologies. For example, the Waste Management Environmental Compound of the Eastern Municipalities Association (Region of Madrid) is avoiding the emission into the atmosphere of more than 70,000 t CO2e per year.
About FCC Servicios Medio Ambiente
FCC Servicios Medio Ambiente is a worldwide organisation, leader in the provision of sustainable environmental services, which has been operating since 1911. It provides urban sanitation services in Europe and America through FCC Medio Ambiente (Spain), FCC Ámbito (industrial waste management and soil decontamination in Spain and Portugal), FCC Environment (United Kingdom, Portugal and Central and Eastern Europe, CEE) and FCC Environmental Services (USA). It operates in more than 5,200 cities around the world and provides services to 66 million inhabitants.
FCC Medio Ambiente’s commitment to sustainability has been formally established in the 2050 Sustainability Strategy, approved in March 2021, a document in which the entire organisation has participated and which represents its sustainability roadmap.
This long-term Sustainability Strategy has been integrated throughout the company and is based on combining the know-how developed in its more than 100 years of activity with the development of innovative technologies that allow it to offer its customers more efficient and "friendly" services, more respectful in the consumption of resources and that contribute to making cities more sustainable and inclusive. The Strategy benefits its entire value chain, from customers, suppliers, employees and, of course, all citizens living in the communities it serves. It thus establishes a new service management model that promotes green growth in the communities where it operates and contributes to the fulfilment of the Sustainable Development Goals (SDGs) of the 2030 Agenda.
CaixaBank ESG advisory service’s
CaixaBank ESG advisory service’s mission is to assist its corporate and institutional customers on sustainability-related issues. With this service, CaixaBank aims to promote its customers’ transition towards Net Zero carbon emissions, provide support on strategic definition, Sustainable Financing Framework design and market positioning per ESG Rating Advisory.
Since the 2015 Paris Agreement, a series of regulatory milestones and a push for sustainability have emerged that focus on the need to decarbonize globally to guarantee sustainability at every level. This transition to a carbon-free economy poses an ambitious and complex challenge. CaixaBank, as a financial institution, accepts its role as a conduit of financing and promotes investment to help its customers transition to carbon neutrality. Through its Corporate and Institutional Banking (CIB) Structured Finance - Sustainable Finance Department, it makes available an ESG advisory process to its customers to help them in any sustainability-related matter and promote sustainable financing structures.
]]>To this end, the company has been advised by CaixaBank CIB&IB, and DNV has been in charge of verifying the Green Financing Framework, having issued a favourable independent opinion.
The Framework follows the Green Bond and Loan Principles set out by the International Capital Market Association (ICMA) and the Loan Market Association (LMA), as it encompasses short and long-term bond and loan financing products.
As a novelty, in updating the framework, a reference to the EU Taxonomy has been included in order to establish a link between the projects to be funded through this new version of the Framework and the sustainable activities defined in EU Taxonomy.
This innovative character allows the company, backbone of the FCC Group's environmental activities, to highlight its ambition to align the use of funds with a positive environmental impact with the climate mitigation and adaptation objectives of the EU Taxonomy Regulation. In this regard it should be noted that, according to the data reported for the 2022 financial year, approximately 83% of FCC Servicios Medio Ambiente's eligible activity is aligned with the objectives of EU Taxonomy.
All Green Projects incorporated in the Framework provide clear environmental benefits and promote the transition to low-carbon technologies. For example, the Waste Management Environmental Compound of the Eastern Municipalities Association (Region of Madrid) is avoiding the emission into the atmosphere of more than 70,000 t CO2e per year.
About FCC Servicios Medio Ambiente
FCC Servicios Medio Ambiente is a worldwide organisation, leader in the provision of sustainable environmental services, which has been operating since 1911. It provides urban sanitation services in Europe and America through FCC Medio Ambiente (Spain), FCC Ámbito (industrial waste management and soil decontamination in Spain and Portugal), FCC Environment (United Kingdom, Portugal and Central and Eastern Europe, CEE) and FCC Environmental Services (USA). It operates in more than 5,200 cities around the world and provides services to 66 million inhabitants.
FCC Medio Ambiente’s commitment to sustainability has been formally established in the 2050 Sustainability Strategy, approved in March 2021, a document in which the entire organisation has participated and which represents its sustainability roadmap.
This long-term Sustainability Strategy has been integrated throughout the company and is based on combining the know-how developed in its more than 100 years of activity with the development of innovative technologies that allow it to offer its customers more efficient and "friendly" services, more respectful in the consumption of resources and that contribute to making cities more sustainable and inclusive. The Strategy benefits its entire value chain, from customers, suppliers, employees and, of course, all citizens living in the communities it serves. It thus establishes a new service management model that promotes green growth in the communities where it operates and contributes to the fulfilment of the Sustainable Development Goals (SDGs) of the 2030 Agenda.
CaixaBank ESG advisory service’s
CaixaBank ESG advisory service’s mission is to assist its corporate and institutional customers on sustainability-related issues. With this service, CaixaBank aims to promote its customers’ transition towards Net Zero carbon emissions, provide support on strategic definition, Sustainable Financing Framework design and market positioning per ESG Rating Advisory.
Since the 2015 Paris Agreement, a series of regulatory milestones and a push for sustainability have emerged that focus on the need to decarbonize globally to guarantee sustainability at every level. This transition to a carbon-free economy poses an ambitious and complex challenge. CaixaBank, as a financial institution, accepts its role as a conduit of financing and promotes investment to help its customers transition to carbon neutrality. Through its Corporate and Institutional Banking (CIB) Structured Finance - Sustainable Finance Department, it makes available an ESG advisory process to its customers to help them in any sustainability-related matter and promote sustainable financing structures.
]]>CaixaBank's chairman, José Ignacio Goirigolzarri, today took part in the UNEP FI sessions held in Madrid on sustainability and its future challenges. In the first roundtable, Goirigolzarri focused on the transition towards a greener and more sustainable economy and underscored CaixaBank's social component as a differential model of banking.
“I have always believed that excellent companies need to listen to society and meet their demands. And it is society to whom we must respond, or else we will arrive late. Laws and regulations are essential, but they usually lag global trends. ESG is a very clear example. Banks and insurance companies have been taking initiatives even before regulation was introduced, with the aim of making progress in three directions: a transparent and responsible corporate governance, geared towards achieving a balance between the various stakeholders; further social involvement, which has been requested by society; and, lastly, an active participation in the transition towards a more sustainable economy from an environmental standpoint”, stated Goirigolzarri. CaixaBank's chairman highlighted a range of areas to be improved as changes are implemented. “We need to guarantee a framework that is genuinely operational for all stakeholders, where efficiency and flexibility in responding to implementation issues are key aspects. A framework that is consistent around the world. In addition, we need to thoroughly work on the data and reports, with the aim of improving the quality of the data and carrying out homogeneous comparisons. At the same time, we must address matters relating to social sustainability”, detailed Goirigolzarri.
When focusing on the financial sector, CaixaBank's chairman stated “our role is to facilitate and drive the transition. … We have been a carbon-neutral company since 2018, but we are also the main funders of companies, which is why we must contribute to the environmental transition and help each company meet their decarbonisation targets. We are currently doing this through initiatives like the Net Zero Banking Alliance, assuming major changes that will affect the governance, strategy and business of our daily operations, and of the companies that put their trust in us, with our customers being what is most important to us”.
In this respect, CaixaBank has a 2022-2024 Strategic Plan in place through which it has committed to mobilise €64 billion in sustainable finance, becoming “the leading bank in granting green financing in EMEA” (as of 31 December 2022).. As a result, the bank has set sustainability as one of the three strategic pillars of its activity.
CaixaBank is offering individuals and self-employed workers retail loans to finance actions that help combat climate change, such as mobility or energy efficiency in households, among others. As the chairman stated, “We are actively offering financing for finalist actions, such as mobility or energy efficiency in households, and it is having a major impact. One should take into account that 6% of total carbon emissions in Spain are direct emissions from households. This is why, in the last 18 months, we have granted loans amounting to over €1.5 billion to finance energy efficient developments”.
Throughout the roundtable, Goirigolzarri highlighted the strength of the financial sector as the main driver of the economic transition and he foresees “a transition towards a green economy with great opportunities for streamlined companies that are able to adapt”.
Differential model of banking
When discussing the social sphere as the driving force of corporate change towards a more sustainable planet, José Ignacio Goirigolzarri underlined CaixaBank's differential model of banking, focusing on social action and financial inclusion. “As regards social action, we are addressing various fields. For instance, in terms of education, a significant concern in our country is the high unemployment rate among the youth, which is approaching 30%. This is why we created CaixaBank Dualiza, the sole objective of which is to support vocational training and thus improve our citizens' employability”, explained the chairman.
“Our team plays an important role in our social action, especially through our volunteers, whose actions impacted over 250,000 beneficiaries in just the first half of the year. Also noteworthy is the fact that 32.2% of our capital belongs to “la Caixa” Foundation, which is one of largest foundations in Europe. Last year, “la Caixa” Foundation received more than €500 million in CaixaBank dividends. As you can see, we have a different way of doing banking, with a pronounced social vocation, and we are very proud of it”.
In terms of financial inclusion, Goirigolzarri highlighted two drivers: geographical inclusion and access to credit to the more vulnerable groups. The financial institution's chairman detailed the bank's social strategy, stating that “we have the broadest network of branches and ATMs in Spain, as we have explicitly committed to not abandoning people, wherever they live”. Proof of this is that CaixaBank is the only bank present in 483 municipalities in Spain, with mobile branches that serve more than 300,000 people in 636 municipalities.
Goirigolzarri also underlined the bank's particular effort to provide access to credit to society’s more vulnerable groups: “Here is where, in addition to the more conventional efforts that are framed within the normal banking activity, at CaixaBank we have a highly differential instrument in MicroBank, the leading microfinances bank in Europe”. Lastly, Goirigolzarri emphasised that “all these details explain the differential model of banking, based on the social dimension as part of CaixaBank's DNA”.
Challenges and opportunities
The session concluded with a proposal for challenges and opportunities by each of the speakers. Goirigolzarri finished by stating that “a sustainable and fair transition is a major challenge. In these times of major changes, where the status quo is questioned and there is great uncertainty, great opportunities arise. We have experienced it many times throughout our history. Opportunities not only to improve business, but especially to improve our society. Opportunities that will be taken advantage of by those sectors and companies that act decisively and, thus, will be able to adjust their reality to society's new needs. Opportunities that will only be taken advantage of if we are also able to overcome great challenges, such as being sensitive to society, supporting our customers and contributing to further social cohesion”.
]]>CaixaBank's chairman, José Ignacio Goirigolzarri, today took part in the UNEP FI sessions held in Madrid on sustainability and its future challenges. In the first roundtable, Goirigolzarri focused on the transition towards a greener and more sustainable economy and underscored CaixaBank's social component as a differential model of banking.
“I have always believed that excellent companies need to listen to society and meet their demands. And it is society to whom we must respond, or else we will arrive late. Laws and regulations are essential, but they usually lag global trends. ESG is a very clear example. Banks and insurance companies have been taking initiatives even before regulation was introduced, with the aim of making progress in three directions: a transparent and responsible corporate governance, geared towards achieving a balance between the various stakeholders; further social involvement, which has been requested by society; and, lastly, an active participation in the transition towards a more sustainable economy from an environmental standpoint”, stated Goirigolzarri. CaixaBank's chairman highlighted a range of areas to be improved as changes are implemented. “We need to guarantee a framework that is genuinely operational for all stakeholders, where efficiency and flexibility in responding to implementation issues are key aspects. A framework that is consistent around the world. In addition, we need to thoroughly work on the data and reports, with the aim of improving the quality of the data and carrying out homogeneous comparisons. At the same time, we must address matters relating to social sustainability”, detailed Goirigolzarri.
When focusing on the financial sector, CaixaBank's chairman stated “our role is to facilitate and drive the transition. … We have been a carbon-neutral company since 2018, but we are also the main funders of companies, which is why we must contribute to the environmental transition and help each company meet their decarbonisation targets. We are currently doing this through initiatives like the Net Zero Banking Alliance, assuming major changes that will affect the governance, strategy and business of our daily operations, and of the companies that put their trust in us, with our customers being what is most important to us”.
In this respect, CaixaBank has a 2022-2024 Strategic Plan in place through which it has committed to mobilise €64 billion in sustainable finance, becoming “the leading bank in granting green financing in EMEA” (as of 31 December 2022).. As a result, the bank has set sustainability as one of the three strategic pillars of its activity.
CaixaBank is offering individuals and self-employed workers retail loans to finance actions that help combat climate change, such as mobility or energy efficiency in households, among others. As the chairman stated, “We are actively offering financing for finalist actions, such as mobility or energy efficiency in households, and it is having a major impact. One should take into account that 6% of total carbon emissions in Spain are direct emissions from households. This is why, in the last 18 months, we have granted loans amounting to over €1.5 billion to finance energy efficient developments”.
Throughout the roundtable, Goirigolzarri highlighted the strength of the financial sector as the main driver of the economic transition and he foresees “a transition towards a green economy with great opportunities for streamlined companies that are able to adapt”.
Differential model of banking
When discussing the social sphere as the driving force of corporate change towards a more sustainable planet, José Ignacio Goirigolzarri underlined CaixaBank's differential model of banking, focusing on social action and financial inclusion. “As regards social action, we are addressing various fields. For instance, in terms of education, a significant concern in our country is the high unemployment rate among the youth, which is approaching 30%. This is why we created CaixaBank Dualiza, the sole objective of which is to support vocational training and thus improve our citizens' employability”, explained the chairman.
“Our team plays an important role in our social action, especially through our volunteers, whose actions impacted over 250,000 beneficiaries in just the first half of the year. Also noteworthy is the fact that 32.2% of our capital belongs to “la Caixa” Foundation, which is one of largest foundations in Europe. Last year, “la Caixa” Foundation received more than €500 million in CaixaBank dividends. As you can see, we have a different way of doing banking, with a pronounced social vocation, and we are very proud of it”.
In terms of financial inclusion, Goirigolzarri highlighted two drivers: geographical inclusion and access to credit to the more vulnerable groups. The financial institution's chairman detailed the bank's social strategy, stating that “we have the broadest network of branches and ATMs in Spain, as we have explicitly committed to not abandoning people, wherever they live”. Proof of this is that CaixaBank is the only bank present in 483 municipalities in Spain, with mobile branches that serve more than 300,000 people in 636 municipalities.
Goirigolzarri also underlined the bank's particular effort to provide access to credit to society’s more vulnerable groups: “Here is where, in addition to the more conventional efforts that are framed within the normal banking activity, at CaixaBank we have a highly differential instrument in MicroBank, the leading microfinances bank in Europe”. Lastly, Goirigolzarri emphasised that “all these details explain the differential model of banking, based on the social dimension as part of CaixaBank's DNA”.
Challenges and opportunities
The session concluded with a proposal for challenges and opportunities by each of the speakers. Goirigolzarri finished by stating that “a sustainable and fair transition is a major challenge. In these times of major changes, where the status quo is questioned and there is great uncertainty, great opportunities arise. We have experienced it many times throughout our history. Opportunities not only to improve business, but especially to improve our society. Opportunities that will be taken advantage of by those sectors and companies that act decisively and, thus, will be able to adjust their reality to society's new needs. Opportunities that will only be taken advantage of if we are also able to overcome great challenges, such as being sensitive to society, supporting our customers and contributing to further social cohesion”.
]]>CaixaBank has completed its first dual-tranche placement of US dollar-denominated debt in the US market. The first issue was an 11-year senior non-preferred bond at 1 billion euros, with an early redemption option in the tenth year. The starting price was 270 basis points over the IPT (US Treasury benchmark). The high demand received (4.6 billion dollars for both tranches) has led to a price cut of 15 bps to 255 points over the IPT. The coupon has been set at 6.840%.
In parallel, CaixaBank placed another senior non-preferred bond with a shorter maturity: 4 years, with an early redemption option in the third year. Here, too, it placed 1 billion dollars, at a price of 195 basis points over the IPT, 15 points below the starting price (IPT+210 bps) on the back of the above-mentioned high demand. The coupon for this bond has been set at 6.684%.
This is CaixaBank’s second US dollar issue in the US market, following a 1,250 million euro senior non-preferred bond placement in January. This enables CaixaBank to further its goal of diversifying its investor base in the large and stable US market. Diversification enables it to reach a larger number of investors and, therefore, to achieve lower funding costs and a greater capacity to appeal to the market.
This issue enables CaixaBank to continue to strengthen its position in bail-inable liabilities, comfortably above the MREL requirement set for 1 January 2024, and reasserts the bank’s commitment to continue building the bail-inable debt buffer in order to increase protection for senior creditors and depositors.
The banks in charge of the placement were Barclays, BNP Paribas, BofA Securities, CaixaBank, J.P. Morgan and Morgan Stanley.
CaixaBank is a recurring issuer, having made nine public issues so far this year in euros, sterling and US dollars, and in all asset classes (senior preferred, senior non-preferred, Tier 2 and AT1) under its regular funding plan.
This dollar transaction follows on from previous issues in currencies other than the euro. In January 2023, CaixaBank issued 1.25 billion dollars of senior non-preferred debt and 500 million pounds sterling of Tier 2 bonds; in March 2022, CaixaBank issued 500 million pounds sterling of senior non-preferred debt; in June 2021, it issued 200 million Swiss francs of senior non-preferred debt; and in May 2021, it placed a senior non-preferred green bond in the amount of 500 million pounds sterling. Furthermore, in the Japanese market it has made four issues in yen totalling around 200 million euros equivalent.
]]>CaixaBank has completed its first dual-tranche placement of US dollar-denominated debt in the US market. The first issue was an 11-year senior non-preferred bond at 1 billion euros, with an early redemption option in the tenth year. The starting price was 270 basis points over the IPT (US Treasury benchmark). The high demand received (4.6 billion dollars for both tranches) has led to a price cut of 15 bps to 255 points over the IPT. The coupon has been set at 6.840%.
In parallel, CaixaBank placed another senior non-preferred bond with a shorter maturity: 4 years, with an early redemption option in the third year. Here, too, it placed 1 billion dollars, at a price of 195 basis points over the IPT, 15 points below the starting price (IPT+210 bps) on the back of the above-mentioned high demand. The coupon for this bond has been set at 6.684%.
This is CaixaBank’s second US dollar issue in the US market, following a 1,250 million euro senior non-preferred bond placement in January. This enables CaixaBank to further its goal of diversifying its investor base in the large and stable US market. Diversification enables it to reach a larger number of investors and, therefore, to achieve lower funding costs and a greater capacity to appeal to the market.
This issue enables CaixaBank to continue to strengthen its position in bail-inable liabilities, comfortably above the MREL requirement set for 1 January 2024, and reasserts the bank’s commitment to continue building the bail-inable debt buffer in order to increase protection for senior creditors and depositors.
The banks in charge of the placement were Barclays, BNP Paribas, BofA Securities, CaixaBank, J.P. Morgan and Morgan Stanley.
CaixaBank is a recurring issuer, having made nine public issues so far this year in euros, sterling and US dollars, and in all asset classes (senior preferred, senior non-preferred, Tier 2 and AT1) under its regular funding plan.
This dollar transaction follows on from previous issues in currencies other than the euro. In January 2023, CaixaBank issued 1.25 billion dollars of senior non-preferred debt and 500 million pounds sterling of Tier 2 bonds; in March 2022, CaixaBank issued 500 million pounds sterling of senior non-preferred debt; in June 2021, it issued 200 million Swiss francs of senior non-preferred debt; and in May 2021, it placed a senior non-preferred green bond in the amount of 500 million pounds sterling. Furthermore, in the Japanese market it has made four issues in yen totalling around 200 million euros equivalent.
]]>The document incorporates all current types of sustainable financings existing in the market, and it follows the International Capital Market Association (ICMA) and the Loan Market Association (LMA) principles for green, social, and sustainability-related financing instruments, using defined KPI.
These principles obey a set of international standards that more and more companies are voluntarily adhering to, promoting the inclusion of increasingly stricter environmental, social and governance (ESG) criteria.
To Carlos Mijangos, Sacyr CFO, “this framework, applicable for both the holding company and any of the Group’s subsidiary companies, represents a huge leap in our commitment to sustainable financing. Sacyr has already undertaken significant operations in this field, but we aim to delve even deeper as part of our social and environmental commitments”.
An innovative tool
Sacyr has created the Sustainable Financing Framework as a tool to facilitate the transparency, disclosure, and integrity of the company's sustainable financing initiatives, applying the highest international sustainability standards to ensure the rigor and quality of the report.
To that end, the company was advised by CaixaBank CIB&IB, and received a positive SPO from Standard & Poor’s acting as an independent observer.
The framework has a highly innovative scope of application, as it encompasses financial instruments like green and social bonds or loans and transactional banking products (leasing, (leasing, supply chain, guarantee lines, etc.), as well a KPI measuring reduction of CO2 emissions.
Projects eligible to be linked to sustainable financing initiatives are projects, activities and businesses mainly located in Sacyr’s home markets in Europe, South America, and English-speaking countries.
Proceeds from the different sustainable financings, emissions and loans will be exclusively used to finance new projects or partially or totally refinance existing projects.
Additionally, the framework compiles the main lines of the company’s ESG strategy and materializes them as contributions to the United Nations' Sustainable Development Goals (SDG).
Leaders in sustainable financing
Sustainability played a critical role in Sacyr’s 2021-2025 Strategic Plan. The company has been involved in several operations with a social label. Such is the case for the first social bond issued in Colombia over the Puerta de Hierro-Cruz del Viso 5G road project (LatinFinance Award winner in the Best financing in local currency category 2021), the financing of the 4G road Rumichaca-Pasto (two-time Latin Finance Awards winner, COP Bond Deal of the Year by Bonds & Loans, Proximo Latin America Deals of the Year Awards 2022 and IJGlobal Awardee), or more recently, the social refinancing of Pamplona-Cúcuta road project.
Sacyr is firmly committed to driving society forward towards a sustainable future as an intrinsic value to its business activity and will continue taking ambitious steps in this direction in its new strategic cycle.
CaixaBank ESG advisory service’s
CaixaBank ESG advisory service’s mission is to assist its corporate and institutional customers on sustainability-related issues. With this service, CaixaBank aims to promote its customers’ transition towards Net Zero carbon emissions, provide support on strategic definition, Sustainable Financing Framework design and market positioning per ESG Rating Advisory.
Since the 2015 Paris Agreement, a series of regulatory milestones and a push for sustainability have emerged that focus on the need to decarbonize globally to guarantee sustainability at every level. This transition to a carbon-free economy poses an ambitious and complex challenge. CaixaBank, as a financial institution, accepts its role as a conduit of financing and promotes investment to help its customers transition to carbon neutrality. Through its Corporate and Institutional Banking (CIB) Structured Finance - Sustainable Finance Department, it makes available an ESG advisory process to its customers to help them in any sustainability-related matter and promote sustainable financing structures.
]]>The document incorporates all current types of sustainable financings existing in the market, and it follows the International Capital Market Association (ICMA) and the Loan Market Association (LMA) principles for green, social, and sustainability-related financing instruments, using defined KPI.
These principles obey a set of international standards that more and more companies are voluntarily adhering to, promoting the inclusion of increasingly stricter environmental, social and governance (ESG) criteria.
To Carlos Mijangos, Sacyr CFO, “this framework, applicable for both the holding company and any of the Group’s subsidiary companies, represents a huge leap in our commitment to sustainable financing. Sacyr has already undertaken significant operations in this field, but we aim to delve even deeper as part of our social and environmental commitments”.
An innovative tool
Sacyr has created the Sustainable Financing Framework as a tool to facilitate the transparency, disclosure, and integrity of the company's sustainable financing initiatives, applying the highest international sustainability standards to ensure the rigor and quality of the report.
To that end, the company was advised by CaixaBank CIB&IB, and received a positive SPO from Standard & Poor’s acting as an independent observer.
The framework has a highly innovative scope of application, as it encompasses financial instruments like green and social bonds or loans and transactional banking products (leasing, (leasing, supply chain, guarantee lines, etc.), as well a KPI measuring reduction of CO2 emissions.
Projects eligible to be linked to sustainable financing initiatives are projects, activities and businesses mainly located in Sacyr’s home markets in Europe, South America, and English-speaking countries.
Proceeds from the different sustainable financings, emissions and loans will be exclusively used to finance new projects or partially or totally refinance existing projects.
Additionally, the framework compiles the main lines of the company’s ESG strategy and materializes them as contributions to the United Nations' Sustainable Development Goals (SDG).
Leaders in sustainable financing
Sustainability played a critical role in Sacyr’s 2021-2025 Strategic Plan. The company has been involved in several operations with a social label. Such is the case for the first social bond issued in Colombia over the Puerta de Hierro-Cruz del Viso 5G road project (LatinFinance Award winner in the Best financing in local currency category 2021), the financing of the 4G road Rumichaca-Pasto (two-time Latin Finance Awards winner, COP Bond Deal of the Year by Bonds & Loans, Proximo Latin America Deals of the Year Awards 2022 and IJGlobal Awardee), or more recently, the social refinancing of Pamplona-Cúcuta road project.
Sacyr is firmly committed to driving society forward towards a sustainable future as an intrinsic value to its business activity and will continue taking ambitious steps in this direction in its new strategic cycle.
CaixaBank ESG advisory service’s
CaixaBank ESG advisory service’s mission is to assist its corporate and institutional customers on sustainability-related issues. With this service, CaixaBank aims to promote its customers’ transition towards Net Zero carbon emissions, provide support on strategic definition, Sustainable Financing Framework design and market positioning per ESG Rating Advisory.
Since the 2015 Paris Agreement, a series of regulatory milestones and a push for sustainability have emerged that focus on the need to decarbonize globally to guarantee sustainability at every level. This transition to a carbon-free economy poses an ambitious and complex challenge. CaixaBank, as a financial institution, accepts its role as a conduit of financing and promotes investment to help its customers transition to carbon neutrality. Through its Corporate and Institutional Banking (CIB) Structured Finance - Sustainable Finance Department, it makes available an ESG advisory process to its customers to help them in any sustainability-related matter and promote sustainable financing structures.
]]>MicroBank, CaixaBank’s social bank, has funded a total of 1,377 education, training, and skills projects in Spain through the Skills & Education programme since its launch in 2022. The initiative is the result of an agreement between MicroBank and the European Investment Fund (EIF) and is designed to facilitate access to financing for individuals who wish to upgrade their training, and for the self-employed, companies and organisations linked to the education sector who wish to improve their services.
In total, MicroBank has allocated 36.3 million euros in loans for the two arms of Skills & Education since its entry into force. The first arm, which is geared towards anyone wishing to continue studying and upgrade their skills through academic training, vocational training or other forms of education, has benefited 1,171 people in Spain, who have applied for an average amount of 6,600 euros. Thus, the overall amount of these loans granted by MicroBank has reached 7.7 million euros. Catalonia, Madrid and Andalusia are the autonomous communities featuring the most beneficiaries. The Skills & Education loan is intended to fund higher education cycles, university degrees and master’s degrees and doctorates, as well as courses in digital skills and professional training.
The average age of students receiving a Skills & Education loan is 28 for both men and women, with 58% of the beneficiaries women, compared to 42% of men. Women apply for support for slightly longer studies than men (15.1 months versus 14.5 months on average, respectively), and these more often tend to be undergraduate and postgraduate studies (28% for women, 25% for men) and even university master’s degrees abroad (2.1% for women, 0.4% for men). In terms of field of study, the main subjects are health and well-being; business, administration and law; and education.
The second arm of Skills & Education, which targets companies wishing to enhance their services, has granted 206 loans in Spain for a total value of 28.7 million euros since its launch. These are loans with an average amount of 139,000 euros, with a maximum amount of up to 500,000 euros. Catalonia, Madrid and Murcia are the autonomous communities with the highest number of companies that have received a loan from the programme. The activities of these organisations are primarily focused on academic tutoring services, teaching centres that offer remedial classes, revision courses for professional exams, and computer classes.
“We are extremely satisfied with the way in which the Skills & Education programme has been received and we will continue to strive to consolidate it as a solution to ensure that more people gain access to a job or improve their conditions, and are consequently better able to respond to the changing needs of the labour market,” explains Cristina González, CEO of MicroBank.
Sustainable banking
MicroBank offers solutions to different groups whose financial needs are not sufficiently met. It has a crucial role in the Sustainable Banking Plan, which is part of CaixaBank’s Strategic Plan, with MicroBank promoting financial inclusion by providing vulnerable groups access to loans, as well as with enhancing its commitment to the country’s socio-economic development.
As the sole shareholder of MicroBank, CaixaBank has supported its social bank since its creation by giving it the funding required to grow its lending activity while marketing MicroBank products through CaixaBank’s extensive commercial network. This is undertaken with the aim of offering customers its entire range of products with the highest possible quality of service and the best possible relationship.
More than 290 entities throughout Spain also actively collaborate in granting the microloans, contributing knowledge to the borrowers, in addition to advising on and monitoring the projects.
MicroBank also relies on the support of Europe’s leading institutions when it comes to promoting enterprise and microfinance, namely the European Investment Fund (EIF), the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB).
]]>MicroBank, CaixaBank’s social bank, has funded a total of 1,377 education, training, and skills projects in Spain through the Skills & Education programme since its launch in 2022. The initiative is the result of an agreement between MicroBank and the European Investment Fund (EIF) and is designed to facilitate access to financing for individuals who wish to upgrade their training, and for the self-employed, companies and organisations linked to the education sector who wish to improve their services.
In total, MicroBank has allocated 36.3 million euros in loans for the two arms of Skills & Education since its entry into force. The first arm, which is geared towards anyone wishing to continue studying and upgrade their skills through academic training, vocational training or other forms of education, has benefited 1,171 people in Spain, who have applied for an average amount of 6,600 euros. Thus, the overall amount of these loans granted by MicroBank has reached 7.7 million euros. Catalonia, Madrid and Andalusia are the autonomous communities featuring the most beneficiaries. The Skills & Education loan is intended to fund higher education cycles, university degrees and master’s degrees and doctorates, as well as courses in digital skills and professional training.
The average age of students receiving a Skills & Education loan is 28 for both men and women, with 58% of the beneficiaries women, compared to 42% of men. Women apply for support for slightly longer studies than men (15.1 months versus 14.5 months on average, respectively), and these more often tend to be undergraduate and postgraduate studies (28% for women, 25% for men) and even university master’s degrees abroad (2.1% for women, 0.4% for men). In terms of field of study, the main subjects are health and well-being; business, administration and law; and education.
The second arm of Skills & Education, which targets companies wishing to enhance their services, has granted 206 loans in Spain for a total value of 28.7 million euros since its launch. These are loans with an average amount of 139,000 euros, with a maximum amount of up to 500,000 euros. Catalonia, Madrid and Murcia are the autonomous communities with the highest number of companies that have received a loan from the programme. The activities of these organisations are primarily focused on academic tutoring services, teaching centres that offer remedial classes, revision courses for professional exams, and computer classes.
“We are extremely satisfied with the way in which the Skills & Education programme has been received and we will continue to strive to consolidate it as a solution to ensure that more people gain access to a job or improve their conditions, and are consequently better able to respond to the changing needs of the labour market,” explains Cristina González, CEO of MicroBank.
Sustainable banking
MicroBank offers solutions to different groups whose financial needs are not sufficiently met. It has a crucial role in the Sustainable Banking Plan, which is part of CaixaBank’s Strategic Plan, with MicroBank promoting financial inclusion by providing vulnerable groups access to loans, as well as with enhancing its commitment to the country’s socio-economic development.
As the sole shareholder of MicroBank, CaixaBank has supported its social bank since its creation by giving it the funding required to grow its lending activity while marketing MicroBank products through CaixaBank’s extensive commercial network. This is undertaken with the aim of offering customers its entire range of products with the highest possible quality of service and the best possible relationship.
More than 290 entities throughout Spain also actively collaborate in granting the microloans, contributing knowledge to the borrowers, in addition to advising on and monitoring the projects.
MicroBank also relies on the support of Europe’s leading institutions when it comes to promoting enterprise and microfinance, namely the European Investment Fund (EIF), the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB).
]]>The success of the operation is reflected in the demand, which, at over €3 billion, exceeded the average observed in Spanish senior issues in 2023, of €1.7 billion. This high demand allowed the bank to lower the interest rate by 30 basis points from the level offered in the announcement of mid-swap + 150 basis points, to a final of mid-swap + 120 bp. CaixaBank was successful in placing this issue during the most active day on the primary market in recent months, with over €15 billion issued by companies and banks.
This is the eighth bond in public format issued by CaixaBank, and the first in the preferred senior format. CaixaBank last issued a bond in this format in August 2022, when it placed €1 billion over seven years in a green format.
The underwriting banks were BNP Paribas, BofA Securities, CaixaBank, Crédit Agricole CIB and UniCredit.
With this issue, in 2023 CaixaBank has issued different types of debt valued at €7.48 billion. This figure includes the issue of $1.25 billion and £500 million.
]]>The success of the operation is reflected in the demand, which, at over €3 billion, exceeded the average observed in Spanish senior issues in 2023, of €1.7 billion. This high demand allowed the bank to lower the interest rate by 30 basis points from the level offered in the announcement of mid-swap + 150 basis points, to a final of mid-swap + 120 bp. CaixaBank was successful in placing this issue during the most active day on the primary market in recent months, with over €15 billion issued by companies and banks.
This is the eighth bond in public format issued by CaixaBank, and the first in the preferred senior format. CaixaBank last issued a bond in this format in August 2022, when it placed €1 billion over seven years in a green format.
The underwriting banks were BNP Paribas, BofA Securities, CaixaBank, Crédit Agricole CIB and UniCredit.
With this issue, in 2023 CaixaBank has issued different types of debt valued at €7.48 billion. This figure includes the issue of $1.25 billion and £500 million.
]]>Global Finance magazine has recognised CaixaBank's digital transformation and its commitment to innovation with 14 awards this year, a record figure for the company, which cements its position as a leader in the digital banking sector globally, and as a pioneer in the use of new technologies to offer the best service to customers. With more than 11 million digital banking users, CaixaBank has the largest digital customer base in Spain's financial sector.
In 2023, the U.S. magazine has awared CaixaBank nine national awards and three continental awards as part of its “World’s Best Consumer Digital Banks Awards”, the 24th edition of which were held this year. Notable amongst the national awards received were 'Best Consumer Digital Banking Mobile App in Spain 2023', 'Best Consumer Digital Bank in Innovation and Transformation in Spain 2023' and ’Best Integrated Online Consumer Bank in Spain 2023'. In addition, for the eighth year in a row, CaixaBank received the top national award: ‘Best Consumer Digital Bank in Spain 2023’.
With respect to the continental prizes, the bank was chosen as ‘Best Consumer Digital Bank for its Product Line-up in Western Europe 2023', 'Best Consumer Digital Bank in Invoice Submission and Payment in Western Europe 2023' and 'Best Consumer Digital Bank in Loans in Western Europe 2023'.
The winners of the World’s Best Consumer Digital Banks are chosen by the editors of the magazine after an evaluation of the candidacies by a panel of judges from Infosys, a leading technology consultancy that, in its analysis, took into account the strategic strengths of the banks to attract and retain customers, the success in offering digital services, the growth of the digital customer base, the design and functionality of the web and mobile digital banking platforms, and other criteria.
As noted by Joseph Giarraputo, founder and editorial director of Global Finance, “with the rapid advances in artificial intelligence and machine learning, the standards of digital banking products are constantly evolving. These prizes seek to recognise the financial institutions that are leading the race for digitisation”.
Innovative project: Insights Center/Customer Experience LABs
The awards from the 24th edition of the World’s Best Consumer Digital Banks are in addition to those obtained by CaixaBank at The Innovators Awards, also from Global Finance magazine, which have recognised the most innovative banking projects that are setting the technology trends in the global financial sector for eleven years.
This year, CaixaBank has seen two of its projects recognised: the Insights Center and the Customer Experience LABs, recognised as a featured project at the global level in the category of 'Best Corporate Laboratories in Financial Innovation', and CaixaBank's carbon footprint for individuals, in this case in the 'Innovation in Sustainability' category.
CaixaBank's Insights Center is the bank's R&D hub, specialising in analysing customer needs and designing innovative solutions. Opened in 2022, its goal is to further the design of an omnichannel experience based on a customer-centric strategy and a 360º vision. Thanks to the work done at the centre, CaixaBank is up to date on the latest market trends, which it uses to improve and develop its products and services and, consequently, the customer experience. The Insights Center is one of the most outstanding projects created by the Customer Experience LABs of CaixaBank, where multidisciplinary teams work with agile methodologies to further improve the strategy of the omnichannel experience to offer the best customer experience.
Furthermore, CaixaBank's carbon footprint calculator for individuals was the first in the sector in Spain, supplied with data from user transactions and certified by environmental experts like Global Factor and AENOR. The purpose of this new service is to raise awareness amongst CaixaBank's customers of the need to look for more sustainable solutions to reduce the carbon footprint and have a more positive impact on society.
Here is the complete list of the digitisation and innovation awards from Global Finance in 2023:
CaixaBank, leader in innovation
These 14 new prizes for the digital transformation and innovation provide continuity to years of accolades for CaixaBank's excellence in innovation, including this year's prize for the ‘Best Digital Bank in Western Europe 2023’ from the magazine Euromoney.
In addition, in the field of the private banking, CaixaBank was chosen 'Best Private Bank For Digital Marketing & Communication In Europe 2023' by the British magazine PWM (Financial Times Group).
Technology and innovation are crucial for CaixaBank. With more than 11 million users of its digital banking service —the largest customer base in the Spanish financial sector— the bank works daily towards developing new models that are able to meet the requirements and needs of its customers and that bring closer its products, services and financial culture to all citizens.
]]>Global Finance magazine has recognised CaixaBank's digital transformation and its commitment to innovation with 14 awards this year, a record figure for the company, which cements its position as a leader in the digital banking sector globally, and as a pioneer in the use of new technologies to offer the best service to customers. With more than 11 million digital banking users, CaixaBank has the largest digital customer base in Spain's financial sector.
In 2023, the U.S. magazine has awared CaixaBank nine national awards and three continental awards as part of its “World’s Best Consumer Digital Banks Awards”, the 24th edition of which were held this year. Notable amongst the national awards received were 'Best Consumer Digital Banking Mobile App in Spain 2023', 'Best Consumer Digital Bank in Innovation and Transformation in Spain 2023' and ’Best Integrated Online Consumer Bank in Spain 2023'. In addition, for the eighth year in a row, CaixaBank received the top national award: ‘Best Consumer Digital Bank in Spain 2023’.
With respect to the continental prizes, the bank was chosen as ‘Best Consumer Digital Bank for its Product Line-up in Western Europe 2023', 'Best Consumer Digital Bank in Invoice Submission and Payment in Western Europe 2023' and 'Best Consumer Digital Bank in Loans in Western Europe 2023'.
The winners of the World’s Best Consumer Digital Banks are chosen by the editors of the magazine after an evaluation of the candidacies by a panel of judges from Infosys, a leading technology consultancy that, in its analysis, took into account the strategic strengths of the banks to attract and retain customers, the success in offering digital services, the growth of the digital customer base, the design and functionality of the web and mobile digital banking platforms, and other criteria.
As noted by Joseph Giarraputo, founder and editorial director of Global Finance, “with the rapid advances in artificial intelligence and machine learning, the standards of digital banking products are constantly evolving. These prizes seek to recognise the financial institutions that are leading the race for digitisation”.
Innovative project: Insights Center/Customer Experience LABs
The awards from the 24th edition of the World’s Best Consumer Digital Banks are in addition to those obtained by CaixaBank at The Innovators Awards, also from Global Finance magazine, which have recognised the most innovative banking projects that are setting the technology trends in the global financial sector for eleven years.
This year, CaixaBank has seen two of its projects recognised: the Insights Center and the Customer Experience LABs, recognised as a featured project at the global level in the category of 'Best Corporate Laboratories in Financial Innovation', and CaixaBank's carbon footprint for individuals, in this case in the 'Innovation in Sustainability' category.
CaixaBank's Insights Center is the bank's R&D hub, specialising in analysing customer needs and designing innovative solutions. Opened in 2022, its goal is to further the design of an omnichannel experience based on a customer-centric strategy and a 360º vision. Thanks to the work done at the centre, CaixaBank is up to date on the latest market trends, which it uses to improve and develop its products and services and, consequently, the customer experience. The Insights Center is one of the most outstanding projects created by the Customer Experience LABs of CaixaBank, where multidisciplinary teams work with agile methodologies to further improve the strategy of the omnichannel experience to offer the best customer experience.
Furthermore, CaixaBank's carbon footprint calculator for individuals was the first in the sector in Spain, supplied with data from user transactions and certified by environmental experts like Global Factor and AENOR. The purpose of this new service is to raise awareness amongst CaixaBank's customers of the need to look for more sustainable solutions to reduce the carbon footprint and have a more positive impact on society.
Here is the complete list of the digitisation and innovation awards from Global Finance in 2023:
CaixaBank, leader in innovation
These 14 new prizes for the digital transformation and innovation provide continuity to years of accolades for CaixaBank's excellence in innovation, including this year's prize for the ‘Best Digital Bank in Western Europe 2023’ from the magazine Euromoney.
In addition, in the field of the private banking, CaixaBank was chosen 'Best Private Bank For Digital Marketing & Communication In Europe 2023' by the British magazine PWM (Financial Times Group).
Technology and innovation are crucial for CaixaBank. With more than 11 million users of its digital banking service —the largest customer base in the Spanish financial sector— the bank works daily towards developing new models that are able to meet the requirements and needs of its customers and that bring closer its products, services and financial culture to all citizens.
]]>