Barclays moves out of Spain; sells operations to CaixaBank for 800 million Euros

Wednesday, September 3rd 2014 - 05:50 UTC

Full article 3 comments

Spain’s third-biggest lender, CaixaBank SA agreed to buy Barclays Plc banking operations in the country for about 800 million Euros (1.1 billion) in cash to expand its business as economic growth picks up. The sale includes consumer, wealth and investment management and corporate banking businesses, Barcelona-based CaixaBank said in a statement. Read full article

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Briton
Barclays , may not be the last British bank to leave Spain..
Sep 03rd, 2014 - 11:08 am - Link - Report abuse 0
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ChrisR
It's their own stupid fault for being in a land of crooks in the first place.

I can just imagine what the efficiency problems were: getting the money back from the loans to out of work, lazy bastards who speak 'proper' gibberish.
Sep 03rd, 2014 - 11:55 am - Link - Report abuse 0
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Pete Bog
@2 “It's their own stupid fault for being in a land of crooks in the first place”

Agreed-I've never understood how institutions that allegedly know about money do stupid things like deal with countries like Spain, and lose it. I remember Lloyds Bank investing in Argentina in the 80s, just after the Falklands War. I believe they lost their money-no sympathy.
Sep 04th, 2014 - 02:48 pm - Link - Report abuse 0
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