"la Caixa" Creates Listed Company to Run Banking Operations

LONDON, January 28, 2011 /PRNewswire/ -- In an asset swap, "la Caxia" Group will transfer its banking business to Criteria CaixaCorp , which will, in turn, become CaxiaBank.

The new bank will have an increased core capital ratio of above 10%, the highest among Spain's largest banking groups.

"la Caixa" CEO Juan Maria Nin told financial news broadcaster http://www.cantos.com that the change represents a "natural step forward" as part of Criteria's goal of increasing its assets in the financial sector and "doing so with high quality assets that include no real estate assets."

He adds that CaxiaBank will be able to better adapt in a financial system where margins and solvency are under increasing pressure.

The interview and transcript are available now on http://www.cantos.com.

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