Bankia insurance business taken over by Caixa Bank from Mapfre
Spanish insurer Mapfre said that it had sold its stake in Bankia’s insurance business to Caixabank in a 571 million-euro ($645.12 million) deal. This is although it has begun arbitration that could increase the value. Caixabank, which took over Bankia in March, has agreed to pay 324 million euros. And that too for Mapfre’s 51% stake in Bankia Vida…
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Caixabank considers selling 9.92% stake in Erste group
Spain’s Caixabank said that it was considering selling its entire 9.92% stake in the Austrian lender Erste Group Bank. The stake has currented a market value of around 1.65 billion euros. The Austrian lender’s 429.8 million outstanding shares comes under this. The lender said that a potential full disposal of its stake in Erste based on the…
Caixa bank to cut 6450 jobs in Spain’s biggest banking staff overhaul
Caixabank with its union spokesperson announced that they have agreed with unions to lay off 6,452 employees. And this will be the biggest ever staff overhaul in Spanish banking. Comisiones Obreras (CCOO) union and the bank said that after the bank met some of the union’s demands, such as voluntary redundancies, the agreement to reduce…