Latest news with #CaixaBankSA
Bloomberg
06-05-2025
- Business
- Bloomberg
Spanish Economy to Have a €400 Million Hit on Blacko, CaixaBank Says
Spain's biggest ever blackout wiped almost €400 million ($454 million) off the economy, according to an estimate by the country's largest domestic bank. Consumer spending by Spanish households slumped 34% on April 28, when most of continental Spain suffered an hours-long power outage, according to an initial estimate by CaixaBank SA, based on the use of cards, online purchases and withdrawals from cash machines. The drop was partly compensated in subsequent days, resulting in a net 15% decrease from what would have normally been spent.
Bloomberg
25-04-2025
- Business
- Bloomberg
Spanish Banks Plan to Spread Windfall Tax Payment Over Full Year
Spanish banks including Banco Santander SA, BBVA SA and CaixaBank SA are looking to spread the annual payment of a windfall tax over four quarters rather than making a single upfront disbursement, according to people familiar with the matter. Doing so would mark a change of strategy from the previous years and would be a way to soften the impact of the tax on first-quarter earnings, according to the people, who asked not be named as the information isn't public. In 2023 and 2024, lenders recorded the full payment in the first quarter.
Bloomberg
19-02-2025
- Business
- Bloomberg
Revolut's Road to IPO Will Test Fintech's Hype
In traditional European banking, where cross-border deals are finally stirring, the question is: 'Will they merge?' In the world of fintech, where whizzy venture-backed growth has cooled in the face of increased competition, regulation and a funding drought, it's: 'Will they list?' For neobank Revolut, the fintech hype looks set to be tested, with co-founder Nik Storonsky recently flagging that backers will want an initial public offering 'sooner or later' and that the US looks a preferable listing destination. Private markets currently value Revolut at $45 billion, following recent employee share sales, which puts the app in line with current public-market capitalizations of NatWest Plc, CaixaBank SA and Deutsche Bank AG. That's a mark of confidence in a platform that lacks the huge loan books or trading floors of those banks yet has managed to amass 50 million customers, secure a provisional UK banking license and turn a profit three years running. (Though let's not forget the fraud victims and hacks along the way.) The question for potential investors will be whether Revolut's fee machine can keep whirring across new geographies and product lines while controlling costs. That's a hard sell.
