Caja Madrid

Management

Miguel Blesa de la Parra

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Caja de Ahorros y Monte de Piedad de Madrid was the oldest Spanish savings bank and was founded on December 3, 1702. The fourth largest Spanish financial services provider to 2011 was known under the short name Caja Madrid. In 2005 12.731 people were employed and operated 1,940 domestic branches. In addition, banking transactions were maintained in 330 branches of the Mapfre group with which there was a close cooperation and cross-shareholding. Foreign branches existed in Miami, Lisbon and Dublin. Caja Madrid supervised claims to 6.7 million customers, from individuals to corporations and exhibited in 2005 with total assets of 180.716 billion euros.

In December 2010, Caja Madrid merged with six other Spanish savings banks Bankia. Mid-2011, the name " Caja Madrid " was replaced by " Bankia ".

History

The beginnings

The Spanish savings banks developed out of the arms supply stations of the Franciscans, the so-called Monte de Piedad ( Mountain of German piety ), which were established in the 18th century coming from Italy to Spain. The Monte de Piedad madrilenian was the first of its kind in Spain. It interest-free loans were granted to the needy against collateral such as jewelry or clothing. So usurious interest could be avoided. The work of the various bodies working in Monte de Piedad Spain was financed by donations, allocations by the royal family and the church as well as revenue from the mining of precious metals.

The savings Bank

From 1836 interest levied on the loan to cover the administrative costs of the Monte de Piedad and to secure his future for the first time. By royal decree of 25 October 1838, the Caja de Ahorros de Madrid ( Savings Bank of Madrid) was founded. It was first adopted deposits that were subject to interest.

Caja de Ahorros y Monte de Piedad de Madrid

Despite close connection between the two institutions initially remained independent. But mutual financial dependency led over time to a de facto merger. The final legal merger was completed on 22 April 1869. Did that new institute at the beginning of Monte de Piedad y Caja still de Ahorros de Madrid, the name components of their importance were converted soon under. The charitable origin has been pushed back. However, Caja Madrid promotes today about his social work various projects. In the year 2005 161 million euros were spent on cultural and social tasks.

Financial investments

Caja Madrid holds numerous investments in Spanish companies such as Mapfre, Indra, Iberia or NH Hoteles. Caja Madrid was also in possession of a 10 % stake in Endesa. In order to buy this stake ments after the announcement of the intention to sell in January 2007, several prospective buyers. After the withdrawal of the Düsseldorf E.ON, the proportion of the Spanish Acciona and Enel, the Italian was sold.

Policy

Politically, Caja Madrid as the Spanish conservative People's Party ( PP) related parties, while their main competitor " la Caixa" is dominated from Barcelona of the Spanish Socialist Party (PSOE ).