Spain’s Ibercaja Bank reveals future plans to keeping going alone

José Luis Aguirre and Víctor Iglesias announced the plans

José Luis Aguirre and Víctor Iglesias announced the plans Credit: Ibercaja Press Centre

WITH the merging of Spanish banks being recommended by the Bank of Spain, Zaragoza based Ibercaja Banco has just confirmed that it intends to continue alone.

It started as a savings bank 145 years ago and expanded in 2011 by taking over other savings banks which allowed it to grow significantly.

The President José Luis Aguirre and CEO Víctor Iglesias have now revealed their strategy to take the bank forward by publishing their 2021-2023 ‘Challenge Plan’.

In this, they are looking to continue to offer a wide range of customer services which includes, banking, mortgages, insurance, pensions and much more with the aim of adding an additional 50 per cent of customers in personal, business and private banking.

Another target sees a determination to exceed a 7 per cent return on investment with a new focus on the development of technological knowledge to help increase customer satisfaction and to reduce costs.

There is also a plan to strengthen the bank’s financial position to ensure that it is able to cope with any new and unexpected problems which may arise as Spain emerges from the pandemic and it has over the past three years reduced the burden of non-performing assets by almost €5 billion.

A statement from the President makes it clear that he and his board have every confidence in the future of the Spanish economy for the future.

According to the Expansion website, there are also plans for Ibercaja to be floated on the Madrid Stock Exchange, either in 2021 or 2022 depending upon the state of the share market.

Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page