CaixaBank to buy out Barclays in Spain
Monday, September 1, 2014 @ 7:29 PM
BARCLAYS Bank's operations in Spain have been bought out by La Caixa for the sum of 800 million euros.
Personal banking, asset management and corporate banking will be taken over by CaixaBank, which will acquire 550,000 of Barclays' customers, 270 branches and 2,400 employees.
Barclays Bank, S. A. U. will continue to have a presence in Spain, albeit a much smaller one,
and will focus on its investment banking and Barclaycard lines of business only.
As at June this year, Barclays in Spain had 18.4 billion euros in loans and mortgages held by customers, with 9.9 billion in deposit accounts and 4.9 billion euros' worth of assets under management – a total business portfolio of 33.2 billion euros.
Read more at thinkSPAIN.com