La Caixa News
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Spanish banks including Bankia group and Catalunya Banc, the largest nationalized lenders, are seeking buyers for their debt-servicing units as distressed investors circle more than 50 billion euros ($65 billion) of assets held by the government-led bad bank.
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Spain’s La Caixa banking group plans to sell a stake in its real estate management company to tap demand from investors seeking to profit from the country’s property crash, people familiar with the plans said.
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CaixaBank, the lender created from restructuring Spanish savings bank La Caixa, posted a 27 percent drop in first-quarter profit as lending revenue declined.
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The U.K. is losing about 38 billion pounds ($61 billion) a year to fraud, with the finance industry bearing the largest loss in the private sector of 3.6 billion pounds, the government said.
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Criteria CaixaCorp SA shares surged after its majority owner, La Caixa, said it will transfer its banking business to Criteria to comply with new regulations and raise capital.
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La Caixa, a Spanish savings bank, is preparing to set up a new bank that it will list on the stock exchange, El Confidencial reported, citing people in the financial industry it didn’t identify.
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Spanish savings bank La Caixa reported 2010 recurring net income fell 12 percent as it announced plans to transfer its banking business to a listed subsidiary to comply with new regulatory rules.
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Deutsche Bank AG is selling 15 million euros ($19 million) of credit-linked notes based on the creditworthiness of La Caixa, Spain’s biggest savings bank.
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Catalonia’s regional government unveiled plans for a $6 billion entertainment and tourism complex backed by the La Caixa banking group and property developer Enrique Banuelos.
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La Caixa and Banco Santander SA closed the accounts of Iran’s embassy in Madrid to comply with financial sanctions against the country over its nuclear program, Press TV reported, without citing anyone.
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