LETTER FROM THE CHAIRMAN

Last year, CaixaBank approved its 2015-2018 Strategic Plan, continuing to pursue a model of sustainable and socially responsible banking, based on the quality of service to our customers and social commitment. The measures set out in the Plan will enable CaixaBank to grow its profitability continuously over time, despite the economic backdrop of low interest rates.

Our leadership in digital banking will be a valuable competitive asset in meeting our objectives for the coming years. This leadership is no accident. It comes from anticipating events and taking a global overview of our business, enabling us to offer our customers innovative products and services.

In 2015, 25% of the Spanish public had their salaries paid by direct debit into CaixaBank accounts, 28.3% received at least one service from us, and we were the main bank for 24%. These figures underscore our commercial approach, which we pursue intensively through the largest branch network in the country and through new digital channels. This combination of traditional ways of doing business and cutting edge banking developments has also made us the leaders for pension plans, savings insurance and mutual funds. And we are continuing to expand our already considerable market share in each of these segments. Millions of people entrust the management of their assets and the future welfare of their families to us: this tells us that CaixaBank has earned the trust of its customers. And we will continue working over the coming years to ensure that the intangible asset that is our reputation continues to make a decisive contribution to CaixaBank‘s growth.

2015 also saw the integration of Barclays Bank, SAU. The way in which we handled this process set an example for the whole financial sector, and the resulting synergies started to contribute immediately to CaixaBank‘s consolidated results. Following the acquisition, we have continued generating capital organically. Our solvency and liquidity are now in an unbeatable position to take on the future challenges in our Strategic Plan. At year end, our highest quality capital (Common Equity Tier 1) ratio stood at 12.9%. In 2015, CaixaBank had the largest capital buffer over European Central Bank‘s requirements of any listed-Spanish bank.

CaixaBank also makes a significant contribution to the activities of the ”la Caixa” Banking Foundation, based on the deeply ingrained values developed over its 111-year history. Our welfare projects will once again have a budget of €500 million, through dividends generated by the bank. This makes our Foundation the largest in continental Europe, and one of the largest in the world. Every year, its social action programmes help to ameliorate the effects of the economic crisis and improve the lives of hundreds of thousands of people at risk of social exclusion.

And to conclude, I would like to thank everyone who has put their trust in CaixaBank. Once again, our customers, shareholders, employees and ”la Caixa” Foundation Welfare Project volunteers have enabled CaixaBank to retain its position as the largest financial institution in Spain, setting a benchmark for quality, trust and social commitment.