<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[Cuidado con aceptar un trabajo a cambio de likes: es una estafa]]> https://blog.caixabank.es/?p=23645 2024-05-22T10:32:31.0Z 2024-05-22T10:32:31.0Z <![CDATA[Cuidado con aceptar un trabajo a cambio de likes: es una estafa]]> 0 <![CDATA[CaixaBank welcomes 75 members from international banks at the WSBI Banking Innovation Conference]]> https://blog.caixabank.es/?p=23645 2024-05-15T10:00:00.0Z 2024-05-15T10:00:00.0Z <![CDATA[CaixaBank welcomes 75 members from international banks at the WSBI Banking Innovation Conference]]> CaixaBank and the World Savings and Retail Banking Institute (WSBI), began this Wednesday a series of presentations and working sessions as part of the WSBI Banking Innovation Conference, in which 75 members of international banks traveled to Barcelona to immerse themselves in the bank's working model.

Over the course of two days, CaixaBank’s managers and team leaders will share with their international counterparts the entity's strategies in key areas such as innovation, new technologies, cybersecurity, and sustainability.

CaixaBank’s chairman, José Ignacio Goirigolzarri, opened the banking innovation conference held at the bank's headquarters in Barcelona on May 15 and 16. In his welcome speech, Goirigolzarri highlighted the excitement of hosting the third edition of these international WSBI visits, as well as the challenge of sharing with colleagues in the sector the unique vision of CaixaBank's business.

“Our way of understanding business is through a highly differential approach to banking—one that is inclusive and very close to the real economy”, Goirigolzarri stated. “A way of doing banking that, I am sure, all of you, as well all members of WSBI not only share but is an intrinsic part of your principles and values […] given that the WSBI is an example of joining forces towards strengthening the role of retail and savings banks in financing individuals, families, SME’s and the real economy”, he added.

The managing director of the WSBI, Peter Simon, has also highlighted how collaboration in the banking sector allows everyone to “collectively advance and thrive together”. In today's rapidly evolving financial landscape, innovation is not just a buzzword; it is a necessity”, Simon noted.

“Retail banking and SME empowerment lie at the heart of economic growth and prosperity. By embracing innovation in these areas, financial institutions can better serve their customers, drive economic development, and foster inclusive growth”, he stressed.

An open day to foster relationships in the industry

The WSBI, chaired by Isidro Fainé, chairman of “la Caixa” Foundation is an international entity founded in 1924 with the aim of uniting and representing retail and saving banks from all over the globe.

As the institution puts it, its goals are to achieve global financial access and, in pursuit of this objective, the WSBI always encourages “the exchange of experiences and good practices among its members”.

Following this idea and as a key member of the WSBI, CaixaBank has hosted this conference to share the experience of its professionals.

An experience backed by the institution’s years of history, but also by its social vocation, given that “CaixaBank is committed to a differential banking model, where social and financial inclusion are at the center of the strategy", as Goirigolzarri pointed out.

Besides the presentations scheduled on Wednesday and Thursday, WSBI members attending the conference will visit some of CaixaBank’s store offices in Barcelona and the Innovation Hub.

]]>
CaixaBank and the World Savings and Retail Banking Institute (WSBI), began this Wednesday a series of presentations and working sessions as part of the WSBI Banking Innovation Conference, in which 75 members of international banks traveled to Barcelona to immerse themselves in the bank's working model.

Over the course of two days, CaixaBank’s managers and team leaders will share with their international counterparts the entity's strategies in key areas such as innovation, new technologies, cybersecurity, and sustainability.

CaixaBank’s chairman, José Ignacio Goirigolzarri, opened the banking innovation conference held at the bank's headquarters in Barcelona on May 15 and 16. In his welcome speech, Goirigolzarri highlighted the excitement of hosting the third edition of these international WSBI visits, as well as the challenge of sharing with colleagues in the sector the unique vision of CaixaBank's business.

“Our way of understanding business is through a highly differential approach to banking—one that is inclusive and very close to the real economy”, Goirigolzarri stated. “A way of doing banking that, I am sure, all of you, as well all members of WSBI not only share but is an intrinsic part of your principles and values […] given that the WSBI is an example of joining forces towards strengthening the role of retail and savings banks in financing individuals, families, SME’s and the real economy”, he added.

The managing director of the WSBI, Peter Simon, has also highlighted how collaboration in the banking sector allows everyone to “collectively advance and thrive together”. In today's rapidly evolving financial landscape, innovation is not just a buzzword; it is a necessity”, Simon noted.

“Retail banking and SME empowerment lie at the heart of economic growth and prosperity. By embracing innovation in these areas, financial institutions can better serve their customers, drive economic development, and foster inclusive growth”, he stressed.

An open day to foster relationships in the industry

The WSBI, chaired by Isidro Fainé, chairman of “la Caixa” Foundation is an international entity founded in 1924 with the aim of uniting and representing retail and saving banks from all over the globe.

As the institution puts it, its goals are to achieve global financial access and, in pursuit of this objective, the WSBI always encourages “the exchange of experiences and good practices among its members”.

Following this idea and as a key member of the WSBI, CaixaBank has hosted this conference to share the experience of its professionals.

An experience backed by the institution’s years of history, but also by its social vocation, given that “CaixaBank is committed to a differential banking model, where social and financial inclusion are at the center of the strategy", as Goirigolzarri pointed out.

Besides the presentations scheduled on Wednesday and Thursday, WSBI members attending the conference will visit some of CaixaBank’s store offices in Barcelona and the Innovation Hub.

]]>
0
<![CDATA[CaixaBank and IFC (World Bank Group) gather over 300 representatives of the international trade finance sector in Barcelona]]> https://blog.caixabank.es/?p=23645 2024-05-10T00:00:00.0Z 2024-05-10T00:00:00.0Z <![CDATA[CaixaBank and IFC (World Bank Group) gather over 300 representatives of the international trade finance sector in Barcelona]]>  

CaixaBank and the International Finance Corporation (IFC), a member of the World Bank Group, gathered in Barcelona over 300 representatives of the international trade finance sector. The Global Trade Partner Meeting, which was held from 7 to 9 May in CaixaBank's corporate building in Barcelona, marks the 20th anniversary of the entry of IFC, the leading multilateral financing institution dedicated exclusively to the private sector in developing countries, into global trade finance operations.

The gathering, held for the first time since 2016, provided a meeting point for representatives of, among others, the issuing and confirming banks from all over the world that are part of IFC’s Global Trade Finance Program (GTFP). During these days, participants at the event were able to attend conferences, share experiences and learn from the best practices in the global banking sector to deal with the challenges facing the industry, such as climate change, the food crisis or high inflation. 

The opening event brought together Gonzalo Gortazar, CaixaBank's CEO; Mohamed Gouled, Vice President of Industries at IFC; and Nathalie Louat, Global Director of Trade and Supply Chain Finance at IFC.

 

Gonzalo Gortazar has highlighted that "meetings of this magnitude helps us to emphasize the crucial role that the financial sector plays in facilitating financing and growth of international trade" and reminded that "CaixaBank, true to its purpose of being close to its clients, is very active in the international business, especially in the eurozone and in the sector of Corporate loans, through its CIB division, which has grown significantly in recent years through its branches in continental Europe”.

Besides, Mohamed Gouled noted that there’s a need for the private sector, along with multilateral development banks and development finance institutions, to improve access to trade and supply chain finance to meet the growing demand, especially in low-income and fragile countries. “Trade and supply chain finance fosters resilience, drives growth, and strengthens communities to overcome uncertainty, ensuring a more stable and interconnected global economy for all,” he said.

Sustainable financing of international trade

Through the GTFP, CaixaBank finances banking organisations with which it conducts business through its international branches, representative offices and the IFI department, with backing from the IFC. In this way, the company strengthens its leadership in foreign trade financing solutions and its relationship with local banks in the jurisdictions where it operates through its international network and its partnerships with over 1,600 correspondent banks, all in an effort to provide comprehensive support to its customers that operate abroad, while also maintaining its commitment to sustainability.

In 2023, CaixaBank provided financing to 54 banks in 22 countries totalling 2.203 billion euros as part of this programme. In addition, CaixaBank reinforced its leadership in the area of sustainable financing, with over $300 million in transactions under the GTFP in 2023.

Recognition of the entity's leadership

During the Global Trade Partner Meeting, CaixaBank received the Best Confirming Bank 2024 award under the IFC's GTFP, a prize it has received on multiple occasions due to its performance in confirming and financing import and export operations worldwide, and in recognition of the effort and collaboration of multiple teams at the company, which include the staffs of Central Services, Regulatory Compliance, Risks, Legal Counsel and CIB (International Banking, IFI and Multilaterals).

These prizes recognise leading companies that provide solutions in international financing and foreign trade on a global level. In addition to various global awards, CaixaBank was named "Best Confirming Bank for Emerging Markets" in 2017, and "Best Regional Confirming Bank in Southeast Asia" in 2017 and 2021.

CaixaBank and the World Bank Group

CaixaBank has been contributing to the IFC's GTFP since 2007 as part of its firm commitment to promoting foreign trade in emerging countries and to offering its customers the best experience in the corporate financing process. It is currently one of the most active confirming banks in the programme.

CaixaBank is also involved in other programmes to boost foreign trade with institutions like the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and others. 

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org

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CaixaBank and the International Finance Corporation (IFC), a member of the World Bank Group, gathered in Barcelona over 300 representatives of the international trade finance sector. The Global Trade Partner Meeting, which was held from 7 to 9 May in CaixaBank's corporate building in Barcelona, marks the 20th anniversary of the entry of IFC, the leading multilateral financing institution dedicated exclusively to the private sector in developing countries, into global trade finance operations.

The gathering, held for the first time since 2016, provided a meeting point for representatives of, among others, the issuing and confirming banks from all over the world that are part of IFC’s Global Trade Finance Program (GTFP). During these days, participants at the event were able to attend conferences, share experiences and learn from the best practices in the global banking sector to deal with the challenges facing the industry, such as climate change, the food crisis or high inflation. 

The opening event brought together Gonzalo Gortazar, CaixaBank's CEO; Mohamed Gouled, Vice President of Industries at IFC; and Nathalie Louat, Global Director of Trade and Supply Chain Finance at IFC.

 

Gonzalo Gortazar has highlighted that "meetings of this magnitude helps us to emphasize the crucial role that the financial sector plays in facilitating financing and growth of international trade" and reminded that "CaixaBank, true to its purpose of being close to its clients, is very active in the international business, especially in the eurozone and in the sector of Corporate loans, through its CIB division, which has grown significantly in recent years through its branches in continental Europe”.

Besides, Mohamed Gouled noted that there’s a need for the private sector, along with multilateral development banks and development finance institutions, to improve access to trade and supply chain finance to meet the growing demand, especially in low-income and fragile countries. “Trade and supply chain finance fosters resilience, drives growth, and strengthens communities to overcome uncertainty, ensuring a more stable and interconnected global economy for all,” he said.

Sustainable financing of international trade

Through the GTFP, CaixaBank finances banking organisations with which it conducts business through its international branches, representative offices and the IFI department, with backing from the IFC. In this way, the company strengthens its leadership in foreign trade financing solutions and its relationship with local banks in the jurisdictions where it operates through its international network and its partnerships with over 1,600 correspondent banks, all in an effort to provide comprehensive support to its customers that operate abroad, while also maintaining its commitment to sustainability.

In 2023, CaixaBank provided financing to 54 banks in 22 countries totalling 2.203 billion euros as part of this programme. In addition, CaixaBank reinforced its leadership in the area of sustainable financing, with over $300 million in transactions under the GTFP in 2023.

Recognition of the entity's leadership

During the Global Trade Partner Meeting, CaixaBank received the Best Confirming Bank 2024 award under the IFC's GTFP, a prize it has received on multiple occasions due to its performance in confirming and financing import and export operations worldwide, and in recognition of the effort and collaboration of multiple teams at the company, which include the staffs of Central Services, Regulatory Compliance, Risks, Legal Counsel and CIB (International Banking, IFI and Multilaterals).

These prizes recognise leading companies that provide solutions in international financing and foreign trade on a global level. In addition to various global awards, CaixaBank was named "Best Confirming Bank for Emerging Markets" in 2017, and "Best Regional Confirming Bank in Southeast Asia" in 2017 and 2021.

CaixaBank and the World Bank Group

CaixaBank has been contributing to the IFC's GTFP since 2007 as part of its firm commitment to promoting foreign trade in emerging countries and to offering its customers the best experience in the corporate financing process. It is currently one of the most active confirming banks in the programme.

CaixaBank is also involved in other programmes to boost foreign trade with institutions like the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and others. 

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org

]]>
0
<![CDATA[PWM (FT Group) recognises CaixaBank as ‘Best Digital Private Bank in Europe 2024’]]> https://blog.caixabank.es/?p=23645 2024-05-03T10:00:00.0Z 2024-05-03T10:00:00.0Z <![CDATA[PWM (FT Group) recognises CaixaBank as ‘Best Digital Private Bank in Europe 2024’]]> The British magazine Professional Wealth Management (PWM), part of the Financial Times Group, recognised CaixaBank Private Banking’s commitment to digital transformation with two awards at the latest edition of its Wealth Tech Awards: “Best Digital Private Bank in Europe 2024” and “Best Private Bank in Europe for Digital Marketing and Communication”, in this case for the third year running.

The Wealth Tech Awards, this year in their seventh edition, award private banking entities that demonstrate excellence in technology. The jury, consisting of professionals in the sector, analyses the strategies, services, and products of banks from all over the world that contribute the most to the digitisation and modernisation of the sector.

These two new PWM awards are in acknowledgment of CaixaBank Banca Privada’s commitment to ongoing innovation and digital transformation to improve communication and relationships with its customers. In this respect, the jury acknowledged CaixaBank's hybrid relationship model, an omnichannel model made to offer the best customer experience in any circumstance, putting both the bank’s physical branch network and all CaixaBank's online banking services at the service of its private banking customers.

Víctor Allende, Head of Private Banking at CaixaBank, stated: “These international awards acknowledge the excellence of CaixaBank Banca Privada’s business model, through a hybrid customer relationship model that blends personalised customer service in branches specialising in high net worth management with pioneering digital tools. This merger of technological innovation, a broad digital offering, personalised advice, and a customer-centric strategy ensures a fully omnichannel experience that adapts to suit our customers’ needs at all times and in all places.”

Leadership in digital communication and marketing

With regard to digital marketing, CaixaBank Banca Privada focused on boosting campaigns for discretionary management portfolios and its Ocean platform, geared towards optimising channels and creativity to achieve maximum return on investment. E-sales of managed funds and portfolios were boosted by 30% in 2023.

There is also Ocean, the bank’s fully online investment service, which has added new products and services in 2023, such as the Smart Money Portfolios and the Ocean Broker, which allows customers to invest directly in fixed income, equities, and derivatives in upwards of 25 global markets, online, at any time and from anywhere.

CaixaBank Private Banking, an internationally acknowledged model

Recently, CaixaBank was chosen for the sixth year, and second consecutive year, as the ‘Best Domestic Private Bank in Spain 2024’ in the latest Global Private Banking Awards by the British magazine Euromoney, which acknowledges excellence and best practices in private banking internationally. In addition to this national award, CaixaBank Private Banking picked up three further accolades: ‘Best Private Bank for UHNW in Spain 2024’ (ultra-high net worth), ‘Best Private Bank for Discretionary Portfolio Management in Spain 2024’ and ‘Best Private Bank for Family Office Services in Spain 2024’.

CaixaBank Private Banking’s value proposition offers various service models to adapt to the needs and preferences of every customer, from those who require a global advisory service to those who operate at their own initiative, managing their wealth via a platform with global capabilities for investment in securities, funds, savings insurance, and other management products.

CaixaBank’s private banking model comprises a team of 1,131 accredited specialists, with 15 years of experience on average, and 75 exclusive private banking centres and 11 exclusive wealth centres, ensuring that customers always receive a personal service. At the end of March, the division exceeded €141.5 billion in managed funds and securities.

]]>
The British magazine Professional Wealth Management (PWM), part of the Financial Times Group, recognised CaixaBank Private Banking’s commitment to digital transformation with two awards at the latest edition of its Wealth Tech Awards: “Best Digital Private Bank in Europe 2024” and “Best Private Bank in Europe for Digital Marketing and Communication”, in this case for the third year running.

The Wealth Tech Awards, this year in their seventh edition, award private banking entities that demonstrate excellence in technology. The jury, consisting of professionals in the sector, analyses the strategies, services, and products of banks from all over the world that contribute the most to the digitisation and modernisation of the sector.

These two new PWM awards are in acknowledgment of CaixaBank Banca Privada’s commitment to ongoing innovation and digital transformation to improve communication and relationships with its customers. In this respect, the jury acknowledged CaixaBank's hybrid relationship model, an omnichannel model made to offer the best customer experience in any circumstance, putting both the bank’s physical branch network and all CaixaBank's online banking services at the service of its private banking customers.

Víctor Allende, Head of Private Banking at CaixaBank, stated: “These international awards acknowledge the excellence of CaixaBank Banca Privada’s business model, through a hybrid customer relationship model that blends personalised customer service in branches specialising in high net worth management with pioneering digital tools. This merger of technological innovation, a broad digital offering, personalised advice, and a customer-centric strategy ensures a fully omnichannel experience that adapts to suit our customers’ needs at all times and in all places.”

Leadership in digital communication and marketing

With regard to digital marketing, CaixaBank Banca Privada focused on boosting campaigns for discretionary management portfolios and its Ocean platform, geared towards optimising channels and creativity to achieve maximum return on investment. E-sales of managed funds and portfolios were boosted by 30% in 2023.

There is also Ocean, the bank’s fully online investment service, which has added new products and services in 2023, such as the Smart Money Portfolios and the Ocean Broker, which allows customers to invest directly in fixed income, equities, and derivatives in upwards of 25 global markets, online, at any time and from anywhere.

CaixaBank Private Banking, an internationally acknowledged model

Recently, CaixaBank was chosen for the sixth year, and second consecutive year, as the ‘Best Domestic Private Bank in Spain 2024’ in the latest Global Private Banking Awards by the British magazine Euromoney, which acknowledges excellence and best practices in private banking internationally. In addition to this national award, CaixaBank Private Banking picked up three further accolades: ‘Best Private Bank for UHNW in Spain 2024’ (ultra-high net worth), ‘Best Private Bank for Discretionary Portfolio Management in Spain 2024’ and ‘Best Private Bank for Family Office Services in Spain 2024’.

CaixaBank Private Banking’s value proposition offers various service models to adapt to the needs and preferences of every customer, from those who require a global advisory service to those who operate at their own initiative, managing their wealth via a platform with global capabilities for investment in securities, funds, savings insurance, and other management products.

CaixaBank’s private banking model comprises a team of 1,131 accredited specialists, with 15 years of experience on average, and 75 exclusive private banking centres and 11 exclusive wealth centres, ensuring that customers always receive a personal service. At the end of March, the division exceeded €141.5 billion in managed funds and securities.

]]>
0
<![CDATA[CaixaBank makes progress in decarbonisation with new intermediate emission reduction targets for its real estate, aviation, marine and agricultural portfolio]]> https://blog.caixabank.es/?p=23645 2024-05-01T00:00:00.0Z 2024-05-01T00:00:00.0Z <![CDATA[CaixaBank makes progress in decarbonisation with new intermediate emission reduction targets for its real estate, aviation, marine and agricultural portfolio]]>  

CaixaBank is continuing to make progress in its commitment to achieve climate neutrality by 2050 and has published new intermediate targets for 2030 for those sectors in its credit and investment portfolio that have the highest greenhouse gas emissions.

Specifically, CaixaBank has set a reduction in physical emissions of 41% for the commercial real estate sector, while for the residential real estate sector, it has set a 19% reduction target by 2030. In the case of the marine sector, CaixaBank has set a reduction goal of 11.9% in the Alignment Delta, and for the aviation sector, the goal is to reduce emissions by 30%. With respect to the agricultural sector, the company has set a more qualitative goal of improving the profile of its portfolio through climate criteria.

With the announcement of new goals for carbon-intensive sectors, CaixaBank continues to reinforce its commitment as a founding member of the Net Zero Banking Alliance (NZBA), while also adhering to the recommendations of the United Nations Intergovernmental Panel on Climate Change (IPCC), all in an effort to limit the rise in global temperatures to 1.5ºC. In 2030, once the intermediate objectives are met, CaixaBank will set new intermediate goals for 2035.

The publication of these new intermediate targets for the commercial and residential real estate, marine, aviation and agricultural sectors comes on the heels of the decarbonization targets announced last October for other carbon-intensive sectors, such as thermal coal, automotive, and iron and steel. For the thermal coal industry, the reduction target set is zero by 2030, meaning CaixaBank will gradually stop financing companies involved in thermal coal in order to reduce its exposure to zero by 2030.

With respect to the automotive industry, a decrease in emissions of 33% by 2030 was announced. As for iron and steel, reduction goals were set in the range of 10 to 20%.

Previously, in 2022, CaixaBank published the emission reduction targets for its credit portfolio in the electricity sector (-30%) and in the oil and gas sectors (-23%) for 2030.

Progress in management relating to the climate and environmental strategy

All of these actions have been accompanied by multiple initiatives and partnerships, through which CaixaBank has pioneered and backed various milestones related to real advances in sustainability. In 2022, CaixaBank was the first Spanish bank to endorse the Poseidon Principles, a framework set up by the Global Maritime Forum to assess and promote the climate goals of the maritime transport financing portfolios.

CaixaBank has also endorsed the Pegasus Guidelines, the first voluntary financing framework of the aviation sector in the fight against climate change. The company has also published its first Sustainable Financing Guide, which aims to define the criteria required for financing operations for individuals and companies by CaixaBank to be considered sustainable, as well as their contribution to the SDGs.

Elsewhere, through its ESG Engagement Project, CaixaBank has put the focus on its relationship with customers, which is particularly relevant in corporate banking, with over 500 companies, SMEs and professionals involved. In parallel to all the efforts in climate matters promoted by CaixaBank, the company is developing an ambitious training programme for its employees that includes mandatory training on climate change, decarbonisation and reporting linked to their annual bonus, with more than 500,000 hours of training given.

European benchmark in sustainability

CaixaBank has strong historical links to the social impact of its activity, which is why it assumes the responsibility of driving a positive economy aimed at people’s well-being. With this aim in mind, the bank has developed a new Sustainable Banking Plan for 2022-2024, integrated into the new CaixaBank Strategic Plan, which includes its proposal for solving challenges such as inequality, climate change and unemployment.

Sustainability is one of the pillars underpinning the Group's achievement of its results, and it sets out three ambitions: leading on positive social impact and encouraging financial inclusion; driving the sustainability transition of companies and society; and fostering a responsible culture by being a benchmark in governance. CaixaBank has set a goal of mobilising €64 billion in sustainable financing between 2022 and 2024.

In addition to providing capital to fund energy transition initiatives, the objectives of mobilising sustainable financing include social purposes, such as facilitating microloans to students, self-employed workers, microenterprises, families, and new companies that generate employment. The bank has also committed to reaching 413,300 beneficiaries of MicroBank, which is the CaixaBank Group's social bank, and obtaining top ratings from the leading ESG analysts.

Since the publication in August 2019 of the bond issuance framework tied to the Sustainable Development Goals, CaixaBank has become the leading company in Europe in issuances with ESG criteria, with 13 issuances so far: 8 green bonds and 5 social bonds, worth a total of €11.25 billion, £500 million and CHF300 million (€315 million) in ESG issuances.

Similarly, CaixaBank is on the A List of CDP, an organisation that analyses and evaluates companies with the best management and performance in climate-related aspects. In addition, CaixaBank, for the twelfth year in a row, is part of the Dow Jones Sustainability Index (DJSI), being among the top-rated banks in the world in terms of sustainability, and is covered by other analysts such as Fitch, MSCI, Sustainalytics, ISS and Vigeo.

]]>
 

CaixaBank is continuing to make progress in its commitment to achieve climate neutrality by 2050 and has published new intermediate targets for 2030 for those sectors in its credit and investment portfolio that have the highest greenhouse gas emissions.

Specifically, CaixaBank has set a reduction in physical emissions of 41% for the commercial real estate sector, while for the residential real estate sector, it has set a 19% reduction target by 2030. In the case of the marine sector, CaixaBank has set a reduction goal of 11.9% in the Alignment Delta, and for the aviation sector, the goal is to reduce emissions by 30%. With respect to the agricultural sector, the company has set a more qualitative goal of improving the profile of its portfolio through climate criteria.

With the announcement of new goals for carbon-intensive sectors, CaixaBank continues to reinforce its commitment as a founding member of the Net Zero Banking Alliance (NZBA), while also adhering to the recommendations of the United Nations Intergovernmental Panel on Climate Change (IPCC), all in an effort to limit the rise in global temperatures to 1.5ºC. In 2030, once the intermediate objectives are met, CaixaBank will set new intermediate goals for 2035.

The publication of these new intermediate targets for the commercial and residential real estate, marine, aviation and agricultural sectors comes on the heels of the decarbonization targets announced last October for other carbon-intensive sectors, such as thermal coal, automotive, and iron and steel. For the thermal coal industry, the reduction target set is zero by 2030, meaning CaixaBank will gradually stop financing companies involved in thermal coal in order to reduce its exposure to zero by 2030.

With respect to the automotive industry, a decrease in emissions of 33% by 2030 was announced. As for iron and steel, reduction goals were set in the range of 10 to 20%.

Previously, in 2022, CaixaBank published the emission reduction targets for its credit portfolio in the electricity sector (-30%) and in the oil and gas sectors (-23%) for 2030.

Progress in management relating to the climate and environmental strategy

All of these actions have been accompanied by multiple initiatives and partnerships, through which CaixaBank has pioneered and backed various milestones related to real advances in sustainability. In 2022, CaixaBank was the first Spanish bank to endorse the Poseidon Principles, a framework set up by the Global Maritime Forum to assess and promote the climate goals of the maritime transport financing portfolios.

CaixaBank has also endorsed the Pegasus Guidelines, the first voluntary financing framework of the aviation sector in the fight against climate change. The company has also published its first Sustainable Financing Guide, which aims to define the criteria required for financing operations for individuals and companies by CaixaBank to be considered sustainable, as well as their contribution to the SDGs.

Elsewhere, through its ESG Engagement Project, CaixaBank has put the focus on its relationship with customers, which is particularly relevant in corporate banking, with over 500 companies, SMEs and professionals involved. In parallel to all the efforts in climate matters promoted by CaixaBank, the company is developing an ambitious training programme for its employees that includes mandatory training on climate change, decarbonisation and reporting linked to their annual bonus, with more than 500,000 hours of training given.

European benchmark in sustainability

CaixaBank has strong historical links to the social impact of its activity, which is why it assumes the responsibility of driving a positive economy aimed at people’s well-being. With this aim in mind, the bank has developed a new Sustainable Banking Plan for 2022-2024, integrated into the new CaixaBank Strategic Plan, which includes its proposal for solving challenges such as inequality, climate change and unemployment.

Sustainability is one of the pillars underpinning the Group's achievement of its results, and it sets out three ambitions: leading on positive social impact and encouraging financial inclusion; driving the sustainability transition of companies and society; and fostering a responsible culture by being a benchmark in governance. CaixaBank has set a goal of mobilising €64 billion in sustainable financing between 2022 and 2024.

In addition to providing capital to fund energy transition initiatives, the objectives of mobilising sustainable financing include social purposes, such as facilitating microloans to students, self-employed workers, microenterprises, families, and new companies that generate employment. The bank has also committed to reaching 413,300 beneficiaries of MicroBank, which is the CaixaBank Group's social bank, and obtaining top ratings from the leading ESG analysts.

Since the publication in August 2019 of the bond issuance framework tied to the Sustainable Development Goals, CaixaBank has become the leading company in Europe in issuances with ESG criteria, with 13 issuances so far: 8 green bonds and 5 social bonds, worth a total of €11.25 billion, £500 million and CHF300 million (€315 million) in ESG issuances.

Similarly, CaixaBank is on the A List of CDP, an organisation that analyses and evaluates companies with the best management and performance in climate-related aspects. In addition, CaixaBank, for the twelfth year in a row, is part of the Dow Jones Sustainability Index (DJSI), being among the top-rated banks in the world in terms of sustainability, and is covered by other analysts such as Fitch, MSCI, Sustainalytics, ISS and Vigeo.

]]>
0
<![CDATA[CaixaBank reports a net profit of €1.01 billion up to March (+17.5%) with increased loan production and customer funds]]> https://blog.caixabank.es/?p=23645 2024-04-30T00:00:00.0Z 2024-04-30T00:00:00.0Z <![CDATA[CaixaBank reports a net profit of €1.01 billion up to March (+17.5%) with increased loan production and customer funds]]>

CaixaBank Group posted an attributable net profit of €1.01 billion in the first quarter of 2024, up +17.5% vs. the €855 million registered in the same period of 2023, as it leverages its financial and commercial strength, which has allowed it to continue supporting families and businesses.

CaixaBank Group serves 20.1 million customers through a network of over 4,100 branches across Spain and Portugal and has more than €600 billion in assets.

Gonzalo Gortazar, CaixaBank’s CEO, has highlighted that “in the context of a resilient Spanish economy, at CaixaBank, we started 2024 with intense commercial activity and market share gains, while maintaining solid levels of profitability and efficiency”.

The CEO has underscored that “in these first three months of the year, CaixaBank has registered €1.13 billion in taxes, a figure that exceeds the profit obtained in the period. Out of those, €493 million correspond to the banking tax, 32% more than last year”.

Evolution of the income statement

CaixaBank’s income statement for the first quarter of 2024 with growth in all margins, reflects the strength of the bank and its positive business dynamics, with higher loan production and positive net inflows into wealth management products, in a context of interest rate normalisation.

As a result, gross income rose +12.7% year-on-year to €3.5 billion, on the back of higher net interest income (+27.4%), which reflects the impact of new production and the prevailing interest rate backdrop.

Revenues from services (wealth management, protection insurance and banking fees) amounted to €1.2 billion in the first quarter, +1.3% year-on-year following an increase in activity. The growth in revenues from wealth management (+15.8%) and protection insurance (+6.9%) offsets the decrease of banking fees (-10.8%), which were down, among other factors, due to lower account maintenance fees.

As a result, return on equity (ROE) stood at 13.4% at the end of March and the cost-to-income ratio improved once again to reach 40.3%.

Business volumes at an all-time high

Strong activity in the quarter cemented CaixaBank’s status as the leading financial institution in Spain and brought the bank’s business volume close to the one trillion-euro mark, an all-time high, after growing by more than €15 billion in the last year.

Customer funds amounted to €636.49 billion, up €6.16 billion in the quarter (+1%), underpinned by wealth management products.

On-balance sheet resources remained stable in the quarter at €463.51 billion and assets under management totalled €168.69 billion (+4.9% in the quarter), following the solid performance of the markets and significant inflows.

Net inflows into mutual funds, savings insurance and pension plans reached €3.44 billion between January and March, with money market funds being the main growth driver on the funds side. Meanwhile, protection insurance continued to perform well, with premiums growing +8.7% year-on-year.

The performing loan portfolio remained stable in the period at €344.44 billion (+0.1%). Mortgages continue to be affected by repayments, albeit at a slower pace. This factor, together with the growth in new production, allowed the registered decline (-0.7%) in the first quarter to be the smallest in the last five quarters. The consumer loan portfolio was up +2%, while the loans to business portfolio rose by +1.1%.

New loan production picked up during the period

Commercial activity remains buoyant, picking up the pace starting in late 2023 and speeding up into the first quarter of 2024, with significant growth in new loans to individuals. In particular, new mortgage lending amounted to €2.79 billion in the first quarter of 2024, up +24.1% year-on-year, while new consumer lending stood at €3.03 billion, up +15%.

New production in loans to businesses exceeded €10.5 billion through to the end of March, with 43,000 loans granted to SMEs during the quarter (+28% year-on-year).

Credit quality, optimal liquidity and solid capital position

The NPL ratio was virtually unchanged in the quarter and below the sector average, at 2.8% (compared to 2.7% in December 2023) after applying stricter criteria for the classification of non-performing loans within the prudential framework, thanks to rigorous and prudent management of credit risk. Non-performing loans increased slightly to €10.79 billion, with no discernible signs of deterioration in the organic evolution of credit exposures. Provisions for insolvency risk (€7.67 billion) brought the coverage ratio to 71%. Meanwhile, the cost of risk (trailing 12 months) remained low at 0.29%.

CaixaBank Group also has an optimal liquidity position, with €157.02 billion, and the Liquidity Coverage Ratio (LCR) stood at 197% as of 31 March, well above the regulatory minimum requirement of 100%.

As for the Group’s capital position, the CET1 capital ratio stood at 12.3% following the impact of the new €500 million share buyback programme that began in March (-22 bps) and which has now been fully deducted. On the other side, the solid organic capital generation in the first quarter stands out (+36 bps).

Commitment to financial inclusion and action to support society

CaixaBank, with the largest network of branches and ATMs in Spain, remains firmly committed to financial inclusion, and is present through physical branches, mobile branches (ofimóviles) or ATMs in 3,140 towns and cities across the country. Thanks to this extensive network, the bank is able to reach practically every corner of the country. It is also the only bank in 458 villages, which it has also pledged not to abandon.

True to its calling of being close to people for everything that matters, the bank supports the economy, families, and businesses through its activities, while also pursuing its social function. Thus, since interest rates began to rise, around 43,000 people have benefited from the conversion of their mortgage from floating-rate to fixed-rate, refinancing and accessions to the Code of Good Practices for Mortgage Holders.

The bank also has more than 10,000 social housing units and around 370,000 clients with social or basic accounts. It also supports vocational training through CaixaBank Dualiza, with more than 10,000 students benefiting in the last year; and it is the European leader with regards to microfinance with MicroBank, CaixaBank’s social bank, which has granted more than 1.4 million microcredits and loans with social impact since its inception.

Video Press Release

Video CaixaBank's CEO, Gonzalo Gortázar

Quote from CaixaBank's CEO, Gonzalo Gortázar

Video materials

]]>

CaixaBank Group posted an attributable net profit of €1.01 billion in the first quarter of 2024, up +17.5% vs. the €855 million registered in the same period of 2023, as it leverages its financial and commercial strength, which has allowed it to continue supporting families and businesses.

CaixaBank Group serves 20.1 million customers through a network of over 4,100 branches across Spain and Portugal and has more than €600 billion in assets.

Gonzalo Gortazar, CaixaBank’s CEO, has highlighted that “in the context of a resilient Spanish economy, at CaixaBank, we started 2024 with intense commercial activity and market share gains, while maintaining solid levels of profitability and efficiency”.

The CEO has underscored that “in these first three months of the year, CaixaBank has registered €1.13 billion in taxes, a figure that exceeds the profit obtained in the period. Out of those, €493 million correspond to the banking tax, 32% more than last year”.

Evolution of the income statement

CaixaBank’s income statement for the first quarter of 2024 with growth in all margins, reflects the strength of the bank and its positive business dynamics, with higher loan production and positive net inflows into wealth management products, in a context of interest rate normalisation.

As a result, gross income rose +12.7% year-on-year to €3.5 billion, on the back of higher net interest income (+27.4%), which reflects the impact of new production and the prevailing interest rate backdrop.

Revenues from services (wealth management, protection insurance and banking fees) amounted to €1.2 billion in the first quarter, +1.3% year-on-year following an increase in activity. The growth in revenues from wealth management (+15.8%) and protection insurance (+6.9%) offsets the decrease of banking fees (-10.8%), which were down, among other factors, due to lower account maintenance fees.

As a result, return on equity (ROE) stood at 13.4% at the end of March and the cost-to-income ratio improved once again to reach 40.3%.

Business volumes at an all-time high

Strong activity in the quarter cemented CaixaBank’s status as the leading financial institution in Spain and brought the bank’s business volume close to the one trillion-euro mark, an all-time high, after growing by more than €15 billion in the last year.

Customer funds amounted to €636.49 billion, up €6.16 billion in the quarter (+1%), underpinned by wealth management products.

On-balance sheet resources remained stable in the quarter at €463.51 billion and assets under management totalled €168.69 billion (+4.9% in the quarter), following the solid performance of the markets and significant inflows.

Net inflows into mutual funds, savings insurance and pension plans reached €3.44 billion between January and March, with money market funds being the main growth driver on the funds side. Meanwhile, protection insurance continued to perform well, with premiums growing +8.7% year-on-year.

The performing loan portfolio remained stable in the period at €344.44 billion (+0.1%). Mortgages continue to be affected by repayments, albeit at a slower pace. This factor, together with the growth in new production, allowed the registered decline (-0.7%) in the first quarter to be the smallest in the last five quarters. The consumer loan portfolio was up +2%, while the loans to business portfolio rose by +1.1%.

New loan production picked up during the period

Commercial activity remains buoyant, picking up the pace starting in late 2023 and speeding up into the first quarter of 2024, with significant growth in new loans to individuals. In particular, new mortgage lending amounted to €2.79 billion in the first quarter of 2024, up +24.1% year-on-year, while new consumer lending stood at €3.03 billion, up +15%.

New production in loans to businesses exceeded €10.5 billion through to the end of March, with 43,000 loans granted to SMEs during the quarter (+28% year-on-year).

Credit quality, optimal liquidity and solid capital position

The NPL ratio was virtually unchanged in the quarter and below the sector average, at 2.8% (compared to 2.7% in December 2023) after applying stricter criteria for the classification of non-performing loans within the prudential framework, thanks to rigorous and prudent management of credit risk. Non-performing loans increased slightly to €10.79 billion, with no discernible signs of deterioration in the organic evolution of credit exposures. Provisions for insolvency risk (€7.67 billion) brought the coverage ratio to 71%. Meanwhile, the cost of risk (trailing 12 months) remained low at 0.29%.

CaixaBank Group also has an optimal liquidity position, with €157.02 billion, and the Liquidity Coverage Ratio (LCR) stood at 197% as of 31 March, well above the regulatory minimum requirement of 100%.

As for the Group’s capital position, the CET1 capital ratio stood at 12.3% following the impact of the new €500 million share buyback programme that began in March (-22 bps) and which has now been fully deducted. On the other side, the solid organic capital generation in the first quarter stands out (+36 bps).

Commitment to financial inclusion and action to support society

CaixaBank, with the largest network of branches and ATMs in Spain, remains firmly committed to financial inclusion, and is present through physical branches, mobile branches (ofimóviles) or ATMs in 3,140 towns and cities across the country. Thanks to this extensive network, the bank is able to reach practically every corner of the country. It is also the only bank in 458 villages, which it has also pledged not to abandon.

True to its calling of being close to people for everything that matters, the bank supports the economy, families, and businesses through its activities, while also pursuing its social function. Thus, since interest rates began to rise, around 43,000 people have benefited from the conversion of their mortgage from floating-rate to fixed-rate, refinancing and accessions to the Code of Good Practices for Mortgage Holders.

The bank also has more than 10,000 social housing units and around 370,000 clients with social or basic accounts. It also supports vocational training through CaixaBank Dualiza, with more than 10,000 students benefiting in the last year; and it is the European leader with regards to microfinance with MicroBank, CaixaBank’s social bank, which has granted more than 1.4 million microcredits and loans with social impact since its inception.

Video Press Release

Video CaixaBank's CEO, Gonzalo Gortázar

Quote from CaixaBank's CEO, Gonzalo Gortázar

Video materials

]]>
0
<![CDATA[CaixaBank consolidates its leadership in factoring and reverse factoring with a record €76,000 million under management]]> https://blog.caixabank.es/?p=23645 2024-04-24T11:00:00.0Z 2024-04-24T11:00:00.0Z <![CDATA[CaixaBank consolidates its leadership in factoring and reverse factoring with a record €76,000 million under management]]>  

CaixaBank ended 2023 with a volume of factoring and reverse factoring transactions (collection and payment management) amounting to more than €76,000 million, up 2% on last year. It is the highest figure the company has ever seen in collection and payment management in a single year. Furthermore, CaixaBank's volume of activity in factoring and reverse factoring, the tool most widely used by companies in Spain to finance working capital, has once again earned the bank the no.1 spot in this segment, with a market share of 28.2%. According to data from the Bank of Spain, 89% of working capital financed in 2023 was done though factoring and reverse factoring.

Reverse factoring is a financial and administrative service that consists of managing a company's payments to its domestic and foreign suppliers, who are offered the possibility of collecting invoices prior to the due date. This allows suppliers to access an advance collection for all customer-confirmed invoices, without this form of financing affecting their credit score. CaixaBank managed more than €37,000 million in reverse factoring in 2023, consolidating the bank as Spain's market leader, with a 27.5% share. More than 100,000 suppliers have benefitted from the advantages of this service through advance payments.

Factoring comprises all services for managing collection, financing and hedging insolvency for national and international credit sales. These services boost financing capacity and provide instant liquidity to companies by financing their sales. They also prevent risk of loss due to insolvency and reduce payment delinquency and defaults. In factoring, CaixaBank attained a volume of more than €38,000 million in 2023 and held a market share of 28.9%, positioning the bank at the top of the Spanish ranking.

Commitment to digitalisation

CaixaBank's commitment to digitalisation across all its products and services in order to facilitate its customers' everyday banking and improve their experience is also reflected in factoring and reverse factoring, where the bank is constantly incorporating new developments and innovations in its applications.

In that regard, the bank provides its customers with a digital portal that enables customers and suppliers to execute credit assignment contracts and advances anywhere in the world, 24 hours a day, 365 days a year and from a phone using CaixaBankNow. Customers can work with a dashboard that provides easy access to the key aspects of their reverse factoring contracts, such as the amount for their next payment, information on their payments in the coming weeks, discovering their suppliers' use of their reverse factoring, the status of the last remittance sent, and the most active suppliers. In this case, the dashboard provides easy access to functionalities such as upcoming collections, a 16-week forecast of collections and their status, the total that can be advanced from the outstanding portfolio and use over the past twelve months, among other aspects. 

CaixaBank also provides functionalities to make it easier and more agile for reverse-factoring suppliers to advance their invoices, with options such as Total Advance, for accepting an advance on all available invoices without having to select them one by one; and Advance by Amount, where a specific amount is set and the tool automatically selects invoices to be advanced up to that amount.

CaixaBank, a leading bank for companies  

CaixaBank, via its CaixaBank Empresas division, has consolidated its position as a leading bank for companies thanks to its specialisation model. CaixaBank offers products and services adapted to specific business needs via more than 70 'SME Store' business centres, which serve companies with a turnover of under 2 million euros, and more than 140 centres that specialise in serving larger companies, with a turnover of more than 2 million euros. That means that CaixaBank Empresas currently has a total network of more than 220 specialised centres and branches throughout Spain, staffed by 2,200 highly qualified professionals with a solid reputation in business consulting.

The company works with specialists in financing, foreign trade, treasury, tourism, real estate, and SMEs who offer a personalised service that goes beyond financing to support and drive the business sector. Furthermore, through DayOne, CaixaBank provides specialist services to technology and innovation companies and their investors. 

Internationally, the bank supports its corporate customers with various operational solutions that provide effective access to 127 markets in different countries, and it offers the best guidance for their operations abroad. CaixaBank provides services both to SMEs and micro enterprises just beginning their export activities and to large corporations and business groups involved in more complex international projects.

]]>
 

CaixaBank ended 2023 with a volume of factoring and reverse factoring transactions (collection and payment management) amounting to more than €76,000 million, up 2% on last year. It is the highest figure the company has ever seen in collection and payment management in a single year. Furthermore, CaixaBank's volume of activity in factoring and reverse factoring, the tool most widely used by companies in Spain to finance working capital, has once again earned the bank the no.1 spot in this segment, with a market share of 28.2%. According to data from the Bank of Spain, 89% of working capital financed in 2023 was done though factoring and reverse factoring.

Reverse factoring is a financial and administrative service that consists of managing a company's payments to its domestic and foreign suppliers, who are offered the possibility of collecting invoices prior to the due date. This allows suppliers to access an advance collection for all customer-confirmed invoices, without this form of financing affecting their credit score. CaixaBank managed more than €37,000 million in reverse factoring in 2023, consolidating the bank as Spain's market leader, with a 27.5% share. More than 100,000 suppliers have benefitted from the advantages of this service through advance payments.

Factoring comprises all services for managing collection, financing and hedging insolvency for national and international credit sales. These services boost financing capacity and provide instant liquidity to companies by financing their sales. They also prevent risk of loss due to insolvency and reduce payment delinquency and defaults. In factoring, CaixaBank attained a volume of more than €38,000 million in 2023 and held a market share of 28.9%, positioning the bank at the top of the Spanish ranking.

Commitment to digitalisation

CaixaBank's commitment to digitalisation across all its products and services in order to facilitate its customers' everyday banking and improve their experience is also reflected in factoring and reverse factoring, where the bank is constantly incorporating new developments and innovations in its applications.

In that regard, the bank provides its customers with a digital portal that enables customers and suppliers to execute credit assignment contracts and advances anywhere in the world, 24 hours a day, 365 days a year and from a phone using CaixaBankNow. Customers can work with a dashboard that provides easy access to the key aspects of their reverse factoring contracts, such as the amount for their next payment, information on their payments in the coming weeks, discovering their suppliers' use of their reverse factoring, the status of the last remittance sent, and the most active suppliers. In this case, the dashboard provides easy access to functionalities such as upcoming collections, a 16-week forecast of collections and their status, the total that can be advanced from the outstanding portfolio and use over the past twelve months, among other aspects. 

CaixaBank also provides functionalities to make it easier and more agile for reverse-factoring suppliers to advance their invoices, with options such as Total Advance, for accepting an advance on all available invoices without having to select them one by one; and Advance by Amount, where a specific amount is set and the tool automatically selects invoices to be advanced up to that amount.

CaixaBank, a leading bank for companies  

CaixaBank, via its CaixaBank Empresas division, has consolidated its position as a leading bank for companies thanks to its specialisation model. CaixaBank offers products and services adapted to specific business needs via more than 70 'SME Store' business centres, which serve companies with a turnover of under 2 million euros, and more than 140 centres that specialise in serving larger companies, with a turnover of more than 2 million euros. That means that CaixaBank Empresas currently has a total network of more than 220 specialised centres and branches throughout Spain, staffed by 2,200 highly qualified professionals with a solid reputation in business consulting.

The company works with specialists in financing, foreign trade, treasury, tourism, real estate, and SMEs who offer a personalised service that goes beyond financing to support and drive the business sector. Furthermore, through DayOne, CaixaBank provides specialist services to technology and innovation companies and their investors. 

Internationally, the bank supports its corporate customers with various operational solutions that provide effective access to 127 markets in different countries, and it offers the best guidance for their operations abroad. CaixaBank provides services both to SMEs and micro enterprises just beginning their export activities and to large corporations and business groups involved in more complex international projects.

]]>
0
<![CDATA[CaixaBank, the first Spanish bank to adhere to the Pegasus Guidelines]]> https://blog.caixabank.es/?p=23645 2024-04-24T00:00:00.0Z 2024-04-24T00:00:00.0Z <![CDATA[CaixaBank, the first Spanish bank to adhere to the Pegasus Guidelines]]>  

CaixaBank has become the first Spanish bank to adhere to the Pegasus Guidelines, the first voluntary climate-aligned finance framework for the aviation sector, designed to help banks independently measure and disclose the emissions intensity and/or climate alignment of their aviation lending portfolios compared to a 1.5°C scenario to reach net-zero emissions by 2050. With this adherence, the bank aims to become a trailblazer in supporting and accompanying the aviation sector in its transition towards a greener economy.

The Pegasus Guidelines, designed by RMI and shaped by a core working group of leading financial institutions, draw upon existing standards including those of the Science Based Targets initiative (SBTi) and the International Civil Aviation Organization’s Carbon Offsetting and Reduction Scheme for International Aviation (ICAO CORSIA). The framework is designed to be compatible with the Net-Zero Banking Alliance’s guidelines, to which CaixaBank aligns as one of the alliance’s founding members.

Similar to frameworks completed for steel (Sustainable Steel Principles), shipping (Poseidon Principles), and aluminum (Sustainable Aluminum Finance Framework), the financial institutions that adopt the Pegasus Guidelines will be equipped to:

  • Perform a standardized assessment to calculate their portfolio emissions intensity and alignment with a 1.5°C scenario
  • Use a consistent approach to accessing high-quality and credible data
  • Disclose their aviation portfolio emissions intensity and/or alignment results annually for transparency, while keeping client information confidential

The aviation industry contributes 2.5% of global CO2 emissions and is the fastest growing transportation sector. The industry’s success in transitioning to a low-carbon economy will rely on a significant ramp up of sustainable aviation fuels (SAF), as well as further development of hydrogen and battery-electric propulsion and fleet modernization. Financial institutions can play an important role in supporting a range of solutions for the sector through financing the technologies, projects, and companies that can contribute to a zero-carbon future.

The aviation sector’s ability to reach net-zero emissions is dependent on driving progress across a set of key technology levers—some of which they have the ability to influence directly, and some of which will require collaboration across sectors and by policymakers. Underpinning the Pegasus Guidelines is an understanding that financial institutions and airlines must work together to foster solutions that can help the industry decarbonize, together with policymakers, customers, airports, fuel producers, and NGOs. Collaboration with banks, investors, and policymakers will be particularly important to accelerate the production of SAF—the most significant lever of decarbonization for the sector.

Leadership through partnerships and initiatives for the sustainability of the planet

This adherence is a step forward in CaixaBank’s efforts to be part of the most relevant alliances working on energy transition, comprising its participation, as a founding member, in the Net-Zero Banking Alliance, through which the banking sector commits to achieving zero net emissions by 2050 in line with the 1.5°C target; its inclusion in the United Nations Collective Commitment to Climate Action; and in the Task Force on Climate-related Financial Disclosures, the core goal of which is to increase the measures taken in response to climate-related financial risks and the reporting quality; its participation in the United Nations Principles for Responsible Banking, which are designed to guide banks in strategically aligning their business with development and sustainability goals at the international, regional and national levels, and its adherence to the Poseidon Principles, a framework developed under the auspices of the Global Maritime Forum for assessing and disseminating the climate alignment of maritime transport financing portfolios.

More on CaixaBank’s environment and climate strategy here.

About RMI

RMI, founded in 1982 as Rocky Mountain Institute, is an independent nonprofit that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; and Beijing. More information on RMI can be found at www.rmi.org or follow us on LinkedIn. 

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CaixaBank has become the first Spanish bank to adhere to the Pegasus Guidelines, the first voluntary climate-aligned finance framework for the aviation sector, designed to help banks independently measure and disclose the emissions intensity and/or climate alignment of their aviation lending portfolios compared to a 1.5°C scenario to reach net-zero emissions by 2050. With this adherence, the bank aims to become a trailblazer in supporting and accompanying the aviation sector in its transition towards a greener economy.

The Pegasus Guidelines, designed by RMI and shaped by a core working group of leading financial institutions, draw upon existing standards including those of the Science Based Targets initiative (SBTi) and the International Civil Aviation Organization’s Carbon Offsetting and Reduction Scheme for International Aviation (ICAO CORSIA). The framework is designed to be compatible with the Net-Zero Banking Alliance’s guidelines, to which CaixaBank aligns as one of the alliance’s founding members.

Similar to frameworks completed for steel (Sustainable Steel Principles), shipping (Poseidon Principles), and aluminum (Sustainable Aluminum Finance Framework), the financial institutions that adopt the Pegasus Guidelines will be equipped to:

  • Perform a standardized assessment to calculate their portfolio emissions intensity and alignment with a 1.5°C scenario
  • Use a consistent approach to accessing high-quality and credible data
  • Disclose their aviation portfolio emissions intensity and/or alignment results annually for transparency, while keeping client information confidential

The aviation industry contributes 2.5% of global CO2 emissions and is the fastest growing transportation sector. The industry’s success in transitioning to a low-carbon economy will rely on a significant ramp up of sustainable aviation fuels (SAF), as well as further development of hydrogen and battery-electric propulsion and fleet modernization. Financial institutions can play an important role in supporting a range of solutions for the sector through financing the technologies, projects, and companies that can contribute to a zero-carbon future.

The aviation sector’s ability to reach net-zero emissions is dependent on driving progress across a set of key technology levers—some of which they have the ability to influence directly, and some of which will require collaboration across sectors and by policymakers. Underpinning the Pegasus Guidelines is an understanding that financial institutions and airlines must work together to foster solutions that can help the industry decarbonize, together with policymakers, customers, airports, fuel producers, and NGOs. Collaboration with banks, investors, and policymakers will be particularly important to accelerate the production of SAF—the most significant lever of decarbonization for the sector.

Leadership through partnerships and initiatives for the sustainability of the planet

This adherence is a step forward in CaixaBank’s efforts to be part of the most relevant alliances working on energy transition, comprising its participation, as a founding member, in the Net-Zero Banking Alliance, through which the banking sector commits to achieving zero net emissions by 2050 in line with the 1.5°C target; its inclusion in the United Nations Collective Commitment to Climate Action; and in the Task Force on Climate-related Financial Disclosures, the core goal of which is to increase the measures taken in response to climate-related financial risks and the reporting quality; its participation in the United Nations Principles for Responsible Banking, which are designed to guide banks in strategically aligning their business with development and sustainability goals at the international, regional and national levels, and its adherence to the Poseidon Principles, a framework developed under the auspices of the Global Maritime Forum for assessing and disseminating the climate alignment of maritime transport financing portfolios.

More on CaixaBank’s environment and climate strategy here.

About RMI

RMI, founded in 1982 as Rocky Mountain Institute, is an independent nonprofit that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; and Beijing. More information on RMI can be found at www.rmi.org or follow us on LinkedIn. 

]]>
0
<![CDATA[The Board of Directors of CaixaBank Asset Management appoints Ana Martín de Santa Olalla as its new CEO]]> https://blog.caixabank.es/?p=23645 2024-04-19T12:00:00.0Z 2024-04-19T12:00:00.0Z <![CDATA[The Board of Directors of CaixaBank Asset Management appoints Ana Martín de Santa Olalla as its new CEO]]> The Board of Directors of CaixaBank Asset Management has approved today the appointment of Ana Martín de Santa Olalla as the new CEO of the investment fund management company, taking over from Juan Bernal, who is leaving the bank after seven years in the position.

Ana Martín de Santa Olalla had hitherto been Head of Business and Sales at CaixaBank AM. The Board of Directors has also appointed Jorge Colomer as Deputy CEO. Mr Colomer will also retain his current position as the Company’s Chief Investment Officer.

The composition of the new Management Committee is as follows: Ana Martín de Santa Olalla (CEO), Jorge Colomer (Deputy CEO and Chief Investment Officer), Lluís de Torres Llosa (Chief Operating Officer), Juan Pablo Hernández de la Merced (Head of Sustainability), Ramon Guillem Ramírez (Chief Risk Officer), Santiago Francisco Rubio de Casas (Head of Investment Strategy), Mónica Valladares Martínez (General Secretary), and Jaume Viladrosa Cutrina (Chief Technology Officer).

Juan Bernal will be embarking on a new professional project and his departure coincides with the final stretch of the 2022–2024 Strategic Plan.

CaixaBank AM has been overhauling its business model in recent years, and in doing so cementing its position as the leading investment fund manager in Spain in terms of both unitholders and assets, with a market share of 23.8%. Total assets under management amount to €86.97 billion in Spain, according to the latest data from Inverco. The fund manager also has subsidiaries in Portugal, BPI Gestão de Ativos and CaixaBank AM Luxembourg. The CaixaBank AM team is composed of 263 employees.

 

 

 

 

 

About Ana Martín de Santa Olalla

Ana Martín de Santa Olalla has served as Head of Business Development and Sales at CaixaBank Asset Management for the past seven years and sits on the Management Committee.

She is also the non-executive chairman of the Board of Directors of BPI GA in Portugal, and a director of CaixaBank AM Luxembourg. Prior to joining CaixaBank AM, she was head of the Investment Advisory Board at CaixaBank Private Banking. 

Ana Martín de Santa Olalla has a wealth of experience within the financial industry, where she has worked for nearly 30 years at leading companies in their respective markets, all of them linked to the asset management business in Europe. She has worked at the Wealth Management department of Barclays, at the Investment department of Deutsche Bank, as Head of Equities, and at Santander, where she managed both investment funds and pension plans.

Over her career, she has shown remarkable vision and has amassed experience in different areas of wealth management, having started out in investment, before honing her commercial skills by advising large clients, and ultimately ending up in her current position.

Ana Martín de Santa Olalla holds a degree in Economics and Business Administration from the Universidad Autónoma de Madrid, and is CESGA certified. 

About Jorge Colomer

Jorge Colomer has been Chief Investment Officer at CaixaBank Asset Management since 2019 and also sits on the Management Committee of the asset management company.

He holds a degree in Economics and Business Administration from Universidad Complutense de Madrid. He also holds an advanced degree in Financial Markets from the Madrid Stock Exchange and is CESGA certified.

Over the last 30 years, his career has taken shape within the financial industry, both nationally and internationally, having worked in both asset management and private banking at leading companies. He spent a total of 11 years at UBS, where he held the positions of CEO and General Manager at UBS Gestión SGIIC and Head of Sales at UBS Bank SA, among other positions.

In 2017, he joined CaixaBank Asset Management as Head of Investment Solutions and did such an outstanding job that he has remained there for five years.

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The Board of Directors of CaixaBank Asset Management has approved today the appointment of Ana Martín de Santa Olalla as the new CEO of the investment fund management company, taking over from Juan Bernal, who is leaving the bank after seven years in the position.

Ana Martín de Santa Olalla had hitherto been Head of Business and Sales at CaixaBank AM. The Board of Directors has also appointed Jorge Colomer as Deputy CEO. Mr Colomer will also retain his current position as the Company’s Chief Investment Officer.

The composition of the new Management Committee is as follows: Ana Martín de Santa Olalla (CEO), Jorge Colomer (Deputy CEO and Chief Investment Officer), Lluís de Torres Llosa (Chief Operating Officer), Juan Pablo Hernández de la Merced (Head of Sustainability), Ramon Guillem Ramírez (Chief Risk Officer), Santiago Francisco Rubio de Casas (Head of Investment Strategy), Mónica Valladares Martínez (General Secretary), and Jaume Viladrosa Cutrina (Chief Technology Officer).

Juan Bernal will be embarking on a new professional project and his departure coincides with the final stretch of the 2022–2024 Strategic Plan.

CaixaBank AM has been overhauling its business model in recent years, and in doing so cementing its position as the leading investment fund manager in Spain in terms of both unitholders and assets, with a market share of 23.8%. Total assets under management amount to €86.97 billion in Spain, according to the latest data from Inverco. The fund manager also has subsidiaries in Portugal, BPI Gestão de Ativos and CaixaBank AM Luxembourg. The CaixaBank AM team is composed of 263 employees.

 

 

 

 

 

About Ana Martín de Santa Olalla

Ana Martín de Santa Olalla has served as Head of Business Development and Sales at CaixaBank Asset Management for the past seven years and sits on the Management Committee.

She is also the non-executive chairman of the Board of Directors of BPI GA in Portugal, and a director of CaixaBank AM Luxembourg. Prior to joining CaixaBank AM, she was head of the Investment Advisory Board at CaixaBank Private Banking. 

Ana Martín de Santa Olalla has a wealth of experience within the financial industry, where she has worked for nearly 30 years at leading companies in their respective markets, all of them linked to the asset management business in Europe. She has worked at the Wealth Management department of Barclays, at the Investment department of Deutsche Bank, as Head of Equities, and at Santander, where she managed both investment funds and pension plans.

Over her career, she has shown remarkable vision and has amassed experience in different areas of wealth management, having started out in investment, before honing her commercial skills by advising large clients, and ultimately ending up in her current position.

Ana Martín de Santa Olalla holds a degree in Economics and Business Administration from the Universidad Autónoma de Madrid, and is CESGA certified. 

About Jorge Colomer

Jorge Colomer has been Chief Investment Officer at CaixaBank Asset Management since 2019 and also sits on the Management Committee of the asset management company.

He holds a degree in Economics and Business Administration from Universidad Complutense de Madrid. He also holds an advanced degree in Financial Markets from the Madrid Stock Exchange and is CESGA certified.

Over the last 30 years, his career has taken shape within the financial industry, both nationally and internationally, having worked in both asset management and private banking at leading companies. He spent a total of 11 years at UBS, where he held the positions of CEO and General Manager at UBS Gestión SGIIC and Head of Sales at UBS Bank SA, among other positions.

In 2017, he joined CaixaBank Asset Management as Head of Investment Solutions and did such an outstanding job that he has remained there for five years.

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<![CDATA[CaixaBank has been named \"Best Bank in Spain\" for the tenth consecutive year by Global Finance magazine]]> https://blog.caixabank.es/?p=23645 2024-04-18T00:00:00.0Z 2024-04-18T00:00:00.0Z <![CDATA[CaixaBank has been named \"Best Bank in Spain\" for the tenth consecutive year by Global Finance magazine]]>  

CaixaBank has been named "Best Bank in Spain" for the tenth consecutive year and ‘Best Bank in Western Europe" for the sixth time in the Best Bank Awards from US magazine, Global Finance.

The publication's editors singled out CaixaBank among banks in more than 150 countries after consulting with analysts, consultants, and banking sector executives around the world. Among other factors, the judges valued CaixaBank's financial soundness and its excellent liquidity position; as well as its commitment to society through its financing provided to families, businesses, and vulnerable communities. In addition to having highlighted its innovative services offering and its commitment to establishing close relationships with its customers, thanks to its extensive network of branches across the country, complemented by 18 mobile offices (“ofibuses”) that provide services in municipalities at risk of financial exclusion.

For José Ignacio Goirigolzarri, CaixaBank’s Chairman, "these international awards bolster our leadership position in Spain and our differential banking model, a model that strives to be close to people for everything that matters. This means being close to families and businesses by meeting their financial needs through our activity, while also striving to ensure financial inclusion, supporting vulnerable communities, and maintaining our commitment to our society's climate transition." He concludes: “this award acknowledges the work carried out by everyone within the CaixaBank Group, bolsters our commitment to achieve the objectives established in our 2022-2024 Strategic Plan and reinvigorates us to keep working to lead the transformation of the banking sector in Spain”.

Furthermore, Gonzalo Gortazar, CaixaBank's CEO, points out that: “These acknowledgements are the result of an excellent financial year in terms of commercial dynamism, credit quality and financial strength, which have allowed us to remain close to our customers, fulfil our social purpose and substantially increase returns to our shareholders and, in particular, the Welfare Projects of “la Caixa” Foundation. This financial year would not have been possible without CaixaBank's excellent team, defined by its great service vocation and a clear common objective of helping and accompanying our customers and contributing to the advancement of society as a whole”.

The Best Bank Awards, which have been running for 31 years, honour the best banks in the world which stand out for their leadership and the innovation of their products and services, among other aspects. The winners are chosen in a selection process that takes into account both qualitative aspects, with the help of opinions from experts and sector consultants, and quantitative factors, including business growth and profitability.

Joseph D. Giarraputo, founder and editorial director of the Global Finance magazine has noted that “the financial sector has reached another turning point with the debut of generative artificial intelligence, which promises to rewrite the way banking is conducted. In this ever-changing environment, the Best Bank Awards honour financial institutions that offer the greatest catalogue of services, long-term reliability, and technological innovation”.

Sound earnings and sustainable balance sheet

CaixaBank's income statement for 2023 reflects the Group's financial soundness, with significant growth in all its margins, in a context of standardisation of interest rates and with some very positive commercial dynamics.

The bank's year-round activity has remained solid, thanks to its extensive range of products and services designed to meet the needs of each type of customer, as reflected in the increasing figures for customer balances (+3.1% in the year) and the growth in the production of protection insurance policies (+7% in 2023).

The bank also managed to end the year with high levels of liquidity and solvency. Total liquid assets amounted to €160.2 billion at year-end, up by €21.19 billion compared to the previous year, and the CET1 capital ratio stood at 12.4%.

Financial strength to support customers and society

CaixaBank's positive earnings for 2023 and its financial might have enabled the bank to boost its commitment to its shareholders and continue to support households and businesses in their financial needs. Along these lines, CaixaBank fulfils a basic social function and will continue to support society in three main areas: aid for mortgage customers in difficulty; financial inclusion; and social initiatives.

Indeed, in 2023, CaixaBank granted more than 280,000 loans and other forms of financing to businesses and 80,000 mortgages to families. On the other hand, since the rise in interest rates, the bank has managed more than 30,000 refinancing transactions, switches from floating rate to fixed rate mortgages, and adherence to the Code of Good Mortgage Practices. The bank also has more than 10,000 social housing units and around 360,000 customers with social or basic accounts. MicroBank, CaixaBank's social bank, ended 2023 with the arrangement of 144,473 financing transactions with social impact valued at €1,400 million.

Furthermore, on 3 April, the bank paid out a dividend of €0.3919 per share against 2023 earnings, a 70% increase compared to the €0.2303 paid out from the previous financial period. In total, the bank distributed a dividend of €2.89 billion, of which a significant part will revert directly back to the community, either through the Welfare Projects carried out by “la Caixa” Foundation or directly to the State, through the FROB (Spanish Fund for Orderly Bank Restructuring). In addition, the bank has more than 590,000 shareholders, the vast majority of whom are minority shareholders.

About Global Finance magazine

Global Finance magazine, founded in 1987 and based in New York, has a circulation of 50,000 copies. It provides analysis and articles for corporate and financial executives making strategic and investment decisions in multinational companies and financial institutions. Its Best Bank Awards, celebrating their 31st anniversary this year, annually select the best banks and financial service providers, becoming a standard of excellence recognised by the global financial community.

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CaixaBank has been named "Best Bank in Spain" for the tenth consecutive year and ‘Best Bank in Western Europe" for the sixth time in the Best Bank Awards from US magazine, Global Finance.

The publication's editors singled out CaixaBank among banks in more than 150 countries after consulting with analysts, consultants, and banking sector executives around the world. Among other factors, the judges valued CaixaBank's financial soundness and its excellent liquidity position; as well as its commitment to society through its financing provided to families, businesses, and vulnerable communities. In addition to having highlighted its innovative services offering and its commitment to establishing close relationships with its customers, thanks to its extensive network of branches across the country, complemented by 18 mobile offices (“ofibuses”) that provide services in municipalities at risk of financial exclusion.

For José Ignacio Goirigolzarri, CaixaBank’s Chairman, "these international awards bolster our leadership position in Spain and our differential banking model, a model that strives to be close to people for everything that matters. This means being close to families and businesses by meeting their financial needs through our activity, while also striving to ensure financial inclusion, supporting vulnerable communities, and maintaining our commitment to our society's climate transition." He concludes: “this award acknowledges the work carried out by everyone within the CaixaBank Group, bolsters our commitment to achieve the objectives established in our 2022-2024 Strategic Plan and reinvigorates us to keep working to lead the transformation of the banking sector in Spain”.

Furthermore, Gonzalo Gortazar, CaixaBank's CEO, points out that: “These acknowledgements are the result of an excellent financial year in terms of commercial dynamism, credit quality and financial strength, which have allowed us to remain close to our customers, fulfil our social purpose and substantially increase returns to our shareholders and, in particular, the Welfare Projects of “la Caixa” Foundation. This financial year would not have been possible without CaixaBank's excellent team, defined by its great service vocation and a clear common objective of helping and accompanying our customers and contributing to the advancement of society as a whole”.

The Best Bank Awards, which have been running for 31 years, honour the best banks in the world which stand out for their leadership and the innovation of their products and services, among other aspects. The winners are chosen in a selection process that takes into account both qualitative aspects, with the help of opinions from experts and sector consultants, and quantitative factors, including business growth and profitability.

Joseph D. Giarraputo, founder and editorial director of the Global Finance magazine has noted that “the financial sector has reached another turning point with the debut of generative artificial intelligence, which promises to rewrite the way banking is conducted. In this ever-changing environment, the Best Bank Awards honour financial institutions that offer the greatest catalogue of services, long-term reliability, and technological innovation”.

Sound earnings and sustainable balance sheet

CaixaBank's income statement for 2023 reflects the Group's financial soundness, with significant growth in all its margins, in a context of standardisation of interest rates and with some very positive commercial dynamics.

The bank's year-round activity has remained solid, thanks to its extensive range of products and services designed to meet the needs of each type of customer, as reflected in the increasing figures for customer balances (+3.1% in the year) and the growth in the production of protection insurance policies (+7% in 2023).

The bank also managed to end the year with high levels of liquidity and solvency. Total liquid assets amounted to €160.2 billion at year-end, up by €21.19 billion compared to the previous year, and the CET1 capital ratio stood at 12.4%.

Financial strength to support customers and society

CaixaBank's positive earnings for 2023 and its financial might have enabled the bank to boost its commitment to its shareholders and continue to support households and businesses in their financial needs. Along these lines, CaixaBank fulfils a basic social function and will continue to support society in three main areas: aid for mortgage customers in difficulty; financial inclusion; and social initiatives.

Indeed, in 2023, CaixaBank granted more than 280,000 loans and other forms of financing to businesses and 80,000 mortgages to families. On the other hand, since the rise in interest rates, the bank has managed more than 30,000 refinancing transactions, switches from floating rate to fixed rate mortgages, and adherence to the Code of Good Mortgage Practices. The bank also has more than 10,000 social housing units and around 360,000 customers with social or basic accounts. MicroBank, CaixaBank's social bank, ended 2023 with the arrangement of 144,473 financing transactions with social impact valued at €1,400 million.

Furthermore, on 3 April, the bank paid out a dividend of €0.3919 per share against 2023 earnings, a 70% increase compared to the €0.2303 paid out from the previous financial period. In total, the bank distributed a dividend of €2.89 billion, of which a significant part will revert directly back to the community, either through the Welfare Projects carried out by “la Caixa” Foundation or directly to the State, through the FROB (Spanish Fund for Orderly Bank Restructuring). In addition, the bank has more than 590,000 shareholders, the vast majority of whom are minority shareholders.

About Global Finance magazine

Global Finance magazine, founded in 1987 and based in New York, has a circulation of 50,000 copies. It provides analysis and articles for corporate and financial executives making strategic and investment decisions in multinational companies and financial institutions. Its Best Bank Awards, celebrating their 31st anniversary this year, annually select the best banks and financial service providers, becoming a standard of excellence recognised by the global financial community.

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