Barclays Sold To Caixa

BARCLAYS Bank's Spanish operations have been bought out by La Caixa for the estimated sum of € 8.000.000
The personal and corporate banking asset business will be taken over by CaixaBank, which will acquire 550,000 of Barclays' customers, 270 branches and 2,400 employees. Barclays in Spain declared in June this year 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.

Isidre Fainé the Caixa Bank chairman said the purchase operation will 'bring a highly-qualified and professional team' to the company from Barclays – blue-chip employees 'focused on offering excellent-quality service' to their customers.

The buyout is expected to be completed around the end of 2014 but is subject to authorisation from the relevant regulatory bodies.