CatalunyaCaixa (Catalan pronunciation: [kətəˌluɲəˈkaʃə]) was the trading name of Catalunya Banc S.A., a Spanish bank with headquarters in Barcelona and owned by Banco Bilbao Vizcaya Argentaria (BBVA), and absorbed by it in 2016. Its area of influence is located mainly at Catalonia.
Is CatalunyaCaixa owned by BBVA?
CatalunyaCaixa (Catalan pronunciation: [kətəˌluɲəˈkaʃə]) was the trading name of Catalunya Banc S.A., a Spanish bank with headquarters in Barcelona and owned by Banco Bilbao Vizcaya Argentaria (BBVA), and absorbed by it in 2016.
How will the acquisition of Catalunya Banc affect BBVA’s capital ratio?
BBVA will acquire Catalunya Banc without having to resort to a capital increase. BBVA’s capital ratio, which stood at 10.8% in March, will drop by around 55 basis points as a result of this deal. Catalunya Banc has a net equity of €2.5 billion and the estimated net present value of the synergies exceeds €1.2 billion.
What happened to Catalunya Banc?
BBVA wins auction for Catalunya Banc. The BBVA Group has taken a major step in its commitment to its domestic market by acquiring Catalunya Banc through an auction held by the Orderly Bank Restructuring Fund (known as FROB). The move doubles BBVA’s market share in Catalonia and makes it the most relevant player in the sector in Spain.
