Key strategies /

ACTIVELY MANAGE CAPITAL

STRATEGIC OBJECTIVES

• Actively manage capital and optimise its use.
• Significantly reduce the proportion of capital allocated to the investees and real estate businesses.
• Improve the quality of management information.

2015 MILESTONES

In December 2015, CaixaBank announced the sale of its holdings in Grupo Financiero Inbursa and the Bank of East Asia (BEA) to CriteriaCaixa. When this transaction is executed, the Entity will achieve its strategic objective of reducing capital consumption by investees to less than 10% (reducing it to around 8%) ahead of schedule. This will enable us to maintain our strategic alliances with both banking partners, whilst focussing capital investment in our core market, the eurozone. CaixaBank also sold its 20.5% holding in Boursorama and 49% of Self Trade Bank in the year.

In line with the strategic objective of decreasing the share of capital consumed by the real estate business, lending to developers decreased organically by 34% in the year, falling to 5% of total lending.

Meanwhile, NPL for real estate developers fell by 47% compared to December 2014 (including the pro-forma impact of Barclays Bank, SAU). Intense commercial efforts (sale and leasing of real estate assets) enabled us to contain the growth in our portfolio of available-for-sale foreclosed assets.

Key monitoring metrics

* Includes the pro-forma impact of Barclays Bank, SAU.
** Pro-forma post-transaction figures.

STRATEGIC PRIORITIES 2016

• To promote joint business projects with international banking partners.
• To actively manage the volume of new foreclosed assets.
• To promote marketing strategies for foreclosed assets, depending on the channel and their quality.