Kutxabank
From Wikipedia, the free encyclopedia
 | |
| Company type | Sociedad Anónima |
|---|---|
| Industry | Financial services |
| Predecessor | Bilbao Bizkaia Kutxa Gipuzkoa Donostia Kutxa Caja Vital Kutxa |
| Founded | 1 January 2012 |
| Headquarters | Bilbao, Spain |
Key people | Gregorio Villalabeitia Galarraga (Chairman), Francisco Javier García Lurueña (CEO) |
| Products | Universal banking, insurance, investment holdings |
 €330.5 million (2022)[1] | |
| Total assets |  €54.7 billion (2022)[1] |
Number of employees | 5,343 (2022)[1] |
| Website | www.kutxabank.com |
Kutxabank is a Spanish bank founded and based in Bilbao. It was officially created on 1 January 2012 out of the merger of three Basque financial institutions operating in their respective provinces: Bilbao Bizkaia Kutxa (BBK), based in Bilbao; Gipuzkoa Donostia Kutxa (Kutxa), based in San Sebastián; and Caja Vital Kutxa (Vital) based in Vitoria-Gasteiz.[2]
As required by the Spanish Government's bank merger deadline, all three institutions ceased to exist as savings banks after a long period of internal deliberation and integration. Kutxabank operates in Andalusia and Extremadura with the brand CajaSur.
Kutxabank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[3][4]
The European stress test measuring solvency in periods of credit crisis showed that Kutxabank ranked first in Spain, standing out as the soundest financial institution (data published in October 2014).[5] A report issued by the European Bank Authority in December 2020 considered Kutxabank the most solvent bank in Spain, also ranking higher than the European average.[6]
