History of "La Caixa"

Francesc Moragas promoted an ambitious, professional concept of management which was very different from the predominant model in other savings banks at the time. He offered diversified savings products and created branches in Catalonia's main towns and cities, introducing modern financial management. The territorial expansion of ”la Caixa” continued apace in Catalonia and the Balearic islands with the aim of spreading the advantages of modern finance. In this sense, it should be noted that ”la Caixa” was a Spanish pioneer in social assistance, one of the basic pillars of the current social security system.

”la Caixa”, whose social goal of ending social exclusion was linked with the socioeconomic development of its territory, soon explored new methods of social action. It was also show its innovative character by changing the concept of social work in savings banks.

Until then, ”la Caixa” and the other savings banks dedicated all earnings to reserves, limiting social spending to awarding prizes to depositors and to making small donations to charitable and cultural institutions. Starting in 1917, ”la Caixa” began to allocate part of its earnings to social projects and, in 1918, decided to integrate Welfare Projects into its organization to ensure that they would be managed efficiently and professionally. Rather than providing charity, the idea was to provide a range of social assistance, cultural, and civic services that would improve people's quality of life. Over the years, these innovations were recognized in Spanish legislation.

•  In 1990, Caja de Pensiones para la Vejez y de Ahorros de Cataluña y Baleares, ”la Caixa”, founded on 5 April 1904 by Catalan lawyer Francesc Moragas Barret, merged with Caja de Ahorros y Monte de Piedad de Barcelona, founded in 1844, and gave rise to a leading group in the Spanish financial system and among Spanish and European savings banks.
• The product of a plan to expand outside of Catalonia and the Balearic Islands, “la Caixa” formed the largest network of branch offices in the Spanish financial system, and it funds and maintains activities of a social, cultural, educational and scientific nature through Obra Social.
• In 2007, “la Caixa” approved the initial public offering of its investee portfolio through the Criteria Caixacorp society, of which “la Caixa” will keep a controlling share.
• In 2011, ”la Caixa” approved a reorganization process which peaks with the creation of CaixaBank, a quoted banking organization through which the “la Caixa” Group continued to indirectly develop its financial activity.
• CaixaBank brings together the banking business of ”la Caixa”, the insurance business and its in international banks, and Repsol. The bank holds a leading position in the Spanish financial and insurance sector, and is also engaged in other complementary activities. It has some 5,700 branches, the lowest ratio of non-performing loans among the large Spanish financial groups, the best coverage and the best capital.
• ”la Caixa” is also creating a new entity, which brings together the industrial holdings of the former Criteria CaixaCorp (Abertis, Agbar, Gas Natural Fenosa, Port Aventura and Mediterránea), Servihabitat and the property businesses.