The big Spanish bank Caixa has continued current growing pains and takes over another competitor. This time a foreign bank, the Spanish bank Caixa bought the famous British bank Barclays Spanish department and take over most of their activities in Spain.
CaixaBank has posted a variety amounts on the table and took over the Spanish part of the British-based bank, Barclays. 820 million Euros had CaixaBank paid for gaining control over most of Barclays in Spain. Investment department remain in the British hands.
CaixaBank takes over including 2,400 employees and they will get to experience change. Their new administrative director, Isidre Faine, has said that the working conditions should be restructured.
It is still unclear what the concrete will mean for many of the Barclays employees in Spain, it can be downsizing, relocation or new conditions.
Visually, there will also be changes of the kind that can be seen from the street. Barclays will retain its name and largely also its familiar logo. Property Marbella, It will in future be CaixaBank Group in small letters below the Barclays.
The Barclays 550,000 customers in Spain will not face a change in the negative kind. In return, they will be used Caixa 9,600 cash machines without paying fees.
With the acquisition of Barclays continues the great Spanish bank CaixaBank their growing pains. Over the past four years, CaixaBank also acquired the Spanish banks Banco de Valencia, Banca Cívica, BankPime and Caixa Girona.
Foreign investors turning Spanish region Catalonia their backs
Foreign investment in the Spanish region of Catalonia fell by 45 percent during the independence process in Catalonia. At the same time increased the sales of foreign operations by 42 percent, according to figures from the Ministry of Finance.
From January until September 2014 decreased foreign investment in the region of Catalonia by 45 percent compared to the same period in 2013. The figures it’s about 1.999 billion euros and 1.094 billion euros.
According to one study, investor interest in the Spanish region of Catalonia cooled to instead concentrate on the rest of Spain. “Uncertainty and political risks are often negative effects on attracting the interest of investors,” says the report.
Foreign investors have bet five times as much in Madrid than they have invested in Catalonia. According to CCC (Convivencia Cívica Catalana) has been the decline in investment in Catalonia occurred in parallel with the increased interest in investing in the rest of Spain.