CaixaBank has signaled its continued commitment to Valencia amid ongoing pressure from the Catalan independence movement to relocate offices. The bank’s leadership emphasized that Valencia remains a core hub for the institution, with its presence in the city delivering stability for depositors and investors alike. José Ignacio Goirigolzarri, chair of CaixaBank, confirmed today that the merger completed in 2020 between Bankia and CaixaBank keeps Valencia as a central headquarters location, reflecting the bank’s belief that the city is a well-balanced base that welcomes the institution in a favorable way.
The executive noted that the city has long hosted the combined headquarters since the pre-merger era and reiterated that this arrangement benefits both customers and shareholders. Valencia, he explained, continues to be an ideal setting for the bank’s operations, reinforcing the message that the city remains an important strategic center for the group. He described Valencia as a place that has consistently provided a supportive environment for CaixaBank’s activities and growth, reinforcing the dedication to maintain a stable presence in the market.
Sanctions
The CaixaBank leader highlighted that Valencia welcomed the organization warmly and that the bank is very satisfied to have its headquarters in the city. He stated that this sentiment has not changed and that the bank continues to view Valencia as a favorable home for its operations.
When asked about possible sanctions targeting companies that relocate their headquarters away from Catalonia, Goirigolzarri indicated that he had no remarks to offer on that topic at the moment.
Strategic plan
CaixaBank has adjusted its strategic plan for 2022-2024 with the aim of increasing the amount of capital distributed to shareholders. The plan now envisions distributing around 12,000 million to shareholders, up from the previously planned 9,000 million by 2024, with a current projection around 6.9 billion already realized. The revision was announced in conjunction with CaixaBank’s 2023 results, which showed a robust performance with earnings of 4.816 billion, a year-over-year rise of 53.9 percent.
Under the original plan, CaixaBank had committed to delivering approximately 9 billion in capital returns to shareholders through dividends and share buybacks by 2024. The updated outlook reflects a stronger capitalization path and a renewed confidence in the bank’s capacity to generate returns for its investors while maintaining a stable and longstanding relationship with Valencia as a strategic base. [CaixaBank, 2023 results; corporate communications]