Banca Cívica, S.A. was a bank created as a result of the
European debt crisis
The European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, is a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s. Several eurozone membe ...
as an emergency response by the
Spanish
Spanish might refer to:
* Items from or related to Spain:
**Spaniards are a nation and ethnic group indigenous to Spain
**Spanish language, spoken in Spain and many Latin American countries
**Spanish cuisine
Other places
* Spanish, Ontario, Can ...
government regulatory authority "Institutional Protection System" (
Spanish
Spanish might refer to:
* Items from or related to Spain:
**Spaniards are a nation and ethnic group indigenous to Spain
**Spanish language, spoken in Spain and many Latin American countries
**Spanish cuisine
Other places
* Spanish, Ontario, Can ...
: ''Sistema Institucional de Protección'', or SIP) that comprised the
savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits.
They originated in Europe during the 18th century with the aim of providing access to savings products to al ...
s of
Caja Navarra,
Caja Canarias,
Caja de Burgos and
Cajasol. It became part of
Caixabank
CaixaBank, S.A. (), formerly Criteria CaixaCorp, is a Spanish multinational financial services company. CaixaBank is based in Valencia, with operative offices in Madrid and Barcelona, Spain. It is Spain's third-largest lender by market value, ...
on 3 August 2012, at which time shares for the company ceased to be quoted.
History
This institution, the founding entities of which were Caja de Burgos, CajaCanarias and Caja Navarra, was incorporated as a
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
by means of notarial instrument issued on 9 June 2010. It began operating on 18 June 2010 and was the first SIP to operate in Spain.
The institution announced its merger with CaixaBank on 23 March 2012.
On 26 June 2012, the Extraordinary General Shareholders' Meeting approved the institution's incorporation in CaixaBank. The operation established the leading institution on the Spanish market, with over 13 million clients and assets of 342,000 million euros. Incorporation neither required public guarantees nor represented any cost at all to the rest of the finance sector.
Stock Market
Banca Civica raised 600 million Euros in its IPO in July 2011.
EU debt crisis threatens Spain bank IPOs, Financial Times
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See also
* Caja Navarra scandal
* 2008–14 Spanish financial crisis
* List of banks in Europe
This is a list of banks in Europe.
Largest banks in Europe
The 20 largest banks in Europe by total assets, as of December 31, 2021.
Albania
Andorra
Armenia
* HSBC Bank Armenia
* ACBA-Credit Agricole Bank
*Ameriabank
* Anelik Bank
*Ar ...
References
External links
Banca Civica web site
{{Authority control
Spanish companies established in 2010
Spanish companies disestablished in 2012
CaixaBank
Defunct banks of Spain