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PrintCaixaBank is the leading bank in Spain thanks to a universal banking model based on quality, innovation, accessibility and personalised service, with a wide range of products and services that are adapted to customers’ various needs and an extensive multi-channel distribution network. The Bank has also formed strategic alliances with large banking groups and has shareholdings in leading companies in the service sector.
A LEADING GROUP
CaixaBank has around 13.8 million customers, around 30% of all adult bank customers in the country, with a quarter of these regarding it as their main bank. This trust has once again been reflected in significant market shares for its main banking products and services. Through VidaCaixa, it occupies first place in the market for savings insurance and pension plans.
SPECIALISED MANAGEMENT
This value proposal is based on a multi-channel offering of quality services, with simple and convenient solutions and an innovative and differentiated product range.
In 2016, our Individual Banking business focused on:
- Attracting direct deposit of salaries, with 857,324 new salaries deposited (+9.6% vs. 2015), due to a gradual improvement in the labour market and an active commercial policy.
- Increasing customer loyalty, through commercial efforts and the launch of new products. Highlights included the sale of 2.29 million insurance policies (general and life), the increase in new lending for consumption (+41% vs. 2015) and new mortgages for individuals (+35% vs. 2015).
- Certification of our service model, receiving the AENOR conform stamp for service excellence. This is the first certification of banking for individuals at the European level.
In 2016, the CaixaBank Business banking segment was consolidated. This has been operational since 2014, serving the self-employed, professionals, shops and small businesses with turnover of less than €2 million.
- We have enhanced management specialisation, with an additional 1,600 exclusively-dedicated advisors and the business managers of branches that have no business advisor. These advisors have mobile devices that enable them to take the branch to the customer’s business. Our customers also have an exclusive, secure communication channel with their advisor, the Muro de Negocios (Business Wall).
- We remain firmly committed to digitalisation. We offer our customers the most advanced solutions, such as ComerciaBox (with the main metrics for transactions using the cards accepted by the business); Mi Comercio Online (with tools to help small businesses create and manage their own online channel); and Tablet POS (comprehensive business management software for the business and point-of-sale hardware)
- CaixaBank Business banking was awarded AENOR certification for its service model, following assessment of its commercial processes and management excellence.
INSURANCE FUNDS AND PENSION PLANS
Complementary and growing businesses, making a significant contribution to CaixaBank’s net profits
VidaCaixa (100% CaixaBank)
- No. 1 in life insurance
- No. 1 in pension plans
SegurCaixa Adeslas (49,9% VidaCaixa)
- No. 1 in health insurance**
- No. 2 in homeowners insurance**
- No. 4 in multi-risk insurance**
Contributing 30% of the net profit of the bancassurance segment**
* * Latest available data (Icea, 3Q 2016)
** ** Excluding ad hoc aspects
This is the leading value proposition for financial advice, based on our exclusive model of advice, qualified professionals and solutions for customers.
Work continued in the year to consolidate the CaixaBank Premier Banking brand and foster diversification of the portfolio, focusing on stimulating long-term saving.
Customer segmentation was modified in 2016 to include customers with a balance of over €60,000, unless the balance of their funds plus securities under management is between €60,000 and €100,000, they are aged 65 or over, and have less than €10,000 in non-investable products.
AENOR also renewed our certification for financial advice services in the year, reflecting the Premier Banking commitment to excellence and service quality. The bank also continues to build on the skills of its team through the post-graduate degree programme in Financial Advice at the Pompeu Fabra University (UPF) and the international certificate programme of the Chartered Institute for Securities & Investment (CISI). A further 157 advisors were certified in the year, bringing the number to 859 certified advisors (53% of the total).
The bank will continue to strengthen its advisory services in 2017 to increase the diversification of its savings, investment and retirement portfolios.
This value proposition focuses on the customers’ goals, offering a team of professionals and the branch network to help customers make decisions about their assets, using our exclusive methodology.
We have one of the largest teams of private banking advisors in the country, with specialist teams and more than 500 qualified professionals with an average of 15 years’ experience.
We were recognised as the “Best Private Bank in Spain” in 2015 and 2016 by Euromoney magazine, and the “Best Private Bank in the world for digital communication” in 2016 by The Banker. These awards recognise the leadership of our private banking model, and its capacity for innovation and financial planning.
A new centralised design for private banking branches was rolled out in 2016. We will be opening more private banking centres in 2017 using this design, to meet the needs of our customers.
In 2017 the bank will continue its commitment to ongoing training of its professionals and to investing in technology to meet our customers’ needs. We also expect to receive AENOR certification for Financial Advice for this proposition.
The business banking network establishes long-term relationships with companies, supporting them in their growth and their day-to-day financial management. Its team are experts in managing all aspects of company needs, offering innovative solutions and specialist service.
Three large companies units were set up in the Basque Country, Barcelona and Madrid in 2016 to offer a tailored service to such customers.
As part of the digitalisation of banking, a personalised advice service was set up during the year, through videoconferencing with specialists in foreign trade, specialist finance and treasury. CaixaBank is the first bank to offer this service in Spain.
It offers liquidity and investment finance solutions for viable projects through its Investment Stimulus Plan (ISP), to support the business fabric.
CaixaBank is chosen by 44.9% of companies for their banking needs, thanks to its extensive network of experts, international coverage, digital banking and service model, which is certified by AENOR (Source: FRS Inmark, Financial Behaviour of Companies Study, 2015).
This value proposal offers personalised service to more than 500 commercial groups of customers for the purpose of becoming a benchmark entity and anticipating their needs. Personalised value propositions have therefore been designed and customers operating abroad are able to take advantage of CaixaBank’s international business.
The Corporate & Institutional Banking (CIB) division integrates Corporate banking, Institutional banking and other areas that provide service to customers, such as Treasury and Capital Markets. The division also supports the bank’s other value propositions.
Despite the sharp increase in competition both in Spain and abroad, in its first year CIB achieved its investment and ordinary income targets.
In 2017 the bank will continue to work towards obtaining a greater share of and weight in the market through risk-adjusted growth that is gradual, sustainable and profitable.
A DIVERSIFIED BUSINESS
CaixaBank’s international presence
International branches
Offer financing and financial services to Spanish companies with interests and activities in these countries, as well as to local businesses.
Representative offices
Advisory services for European multinationals with subsidiaries in Spain, and for Spanish companies doing business abroad. Coming soon: Algiers, São Paulo and Johannesburg.
Strategic alliances
Strategic alliances with four major banking groups* offering preferential access to new business opportunities in emerging regions, and that help CaixaBank customers carry out their business abroad.
CaixaBank rounds out its own service with a network of over 2,900 correspondent banks.
Revenue diversification
CaixaBank holds equity interests in two leading companies in their respective sectors, offering growth and value generation as well as a strong international presence.
* Includes GFI and BEA. In May 2016, CaixaBank transferred its stakes in GFI and BEA to CriteriaCaixa, implementing the asset swap agreed in December 2015. CaixaBank retains its commercial cooperation and strategic relationship with GFI and BEA.
** CaixaBank has had a holding of 84.51% in BPI since 8 January 2017, following successful completion of the takeover bid.
*** Coming soon.