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Kutxabank

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Kutxabank, S.A.
Company typeSociedad Anónima
IndustryFinancial services
PredecessorBilbao Bizkaia Kutxa
Gipuzkoa Donostia Kutxa
Caja Vital Kutxa
Founded1 January 2012; 13 years ago (2012-01-01)
HeadquartersBilbao, Spain
Key people
Gregorio Villalabeitia Galarraga (Chairman), Francisco Javier García Lurueña (CEO)
ProductsUniversal banking, insurance, investment holdings
Increase €330.5 million (2022)[1]
Total assetsDecrease €54.7 billion (2022)[1]
Number of employees
Decrease 5,343 (2022)[1]
Websitewww.kutxabank.com

Kutxabank is a Spanish bank founded and based in Bilbao. It was officially created on 1 January 2012 out of the merger of three Basque financial institutions operating in their respective provinces: Bilbao Bizkaia Kutxa (BBK), based in Bilbao; Gipuzkoa Donostia Kutxa (Kutxa), based in San Sebastián; and Caja Vital Kutxa (Vital) based in Vitoria-Gasteiz.[2]

As required by the Spanish Government's bank merger deadline, all three institutions ceased to exist as savings banks after a long period of internal deliberation and integration. Kutxabank operates in Andalusia and Extremadura with the brand CajaSur.

Kutxabank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[3][4]

History

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The European stress test measuring solvency in periods of credit crisis showed that Kutxabank ranked first in Spain, standing out as the soundest financial institution (data published in October 2014).[5] A report issued by the European Bank Authority in December 2020 considered Kutxabank the most solvent bank in Spain, also ranking higher than the European average.[6]

See also

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References

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  1. ^ a b c Kutxabank, Informe Financiero Anual 2022
  2. ^ Quiénes somos, www.kutxabank.com (in Spanish)
  3. ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  4. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  5. ^ "Kutxabank, Bankinter y Bankia sacan las mejores notas del examen". El País. 26 October 2014. Retrieved 2018-03-20.
  6. ^ "Kutxabank mantiene su solvencia en lo más alto". elEconomista.es (in Spanish). Retrieved 2022-01-04.
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