Iberkaya, “Golden Bachelor” of Banking
15 years have passed since then financial crisis of 2008, the world’s largest depression since the Great Depression (1929), which followed the bankruptcy of Lehman Brothers. Spain He survived the Via Cruses, compounded by the difficulty of digesting the excesses and mistakes of the real estate bubble when the banking business was in the eye of a hurricane. Since then, the map of the sector has been reduced from 55 to a dozen relevant entities, of which it is a privileged group.Iberkaya. After 147 years of history, the Aragonese brand managed to survive this catharsis on its own and maintain its independence, no matter what. With homework at standard levels and stellar numbers, the best of his long career, Now the organization is ushering in a new, more expansive and peaceful phase, although it is equally plagued by risks and challenges.
Connected
Although regulation has forced it to become a conventional bank, it retains some of the essence that defined the old savings banks, a group of which it was a part and one of the few incumbents still alive. This is evidenced by the important social work that he continues to carry out through his activities and territorial roots.
The current group is the result of the division and transfer of the electronic financial business to Ibercaja BancoSavings bank xtinta and Monte de Piedad ZaragozaAragon and Rioja, today transformed into the Ibercaja Foundation. In 2013, it absorbed Caja3, which was formed as a result of the division and subsequent merger of the financial business of three former savings banks: Aragonese CAI, Badajoz and Círculo de Burgos. The successor funds of these enterprises are now their minority shareholders, owning almost 12% of the capital.
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Its core business is retail banking targeting individuals, families and SMEs, which is reflected in its simple balance sheet structure and low risk profile. At the end of 2023, the company’s total assets were €46,958 million. making it the ninth Spanish bank by size and a market share of 2.4% in loans to individuals and non-financial institutions. The company, which has been headed by Victor Iglesias since 2015, also has 4,627 employees – 200 more than a year earlier. 900 offices throughout Spainmore than a third of them are in Aragon.
After the long desert journey that the entire sector has gone through, with official interest rates at zero and negative (2014-2021), Ibercaja has found an oasis of recovery. In 2023, the company generated a net profit of 304 million euros, an increase of 67.4% compared to the previous year. (123 million), a record number. It was also the icing on the cake of a three-year period during which the bank has honorably met and exceeded the targets of the Strategic Plan it launched in 2020.
Independence and roots
Enter a new stage with freer hands and manage your future without any restrictions. The enterprise managed to complete a reserve fund of 320 million euros, which began to be provided almost two years ago, which means the IPO is permanently frozen. It will thus be freed from the obligation to take the leap on the stock market by following the alternative approved by the Bank of Spain to adapt to the new banking rules that emerged after the 2008 financial crisis.
In practice this represents a strengthening of independence and roots in Aragon. Remaining a golden bachelor in Spanish banking by choice will remain one of his main goals.. This does not exclude transactions or opportunities that will help you achieve your goals.
For example, a future debut on the stock market is not excluded, but this path will be chosen only if the market situation is favorable, without any strings attached or deadline conditions. All in order to continue to be a bank with a cash soul.