CaixaBank is marking the 15th year of operations of its representative office in Turkey.
CaixaBank noted in the announcement that the bank opened the office in 2009 as part of its “international growth strategy” through its international banking network, which has branches and representative offices around the world.
To mark the milestone, members of the CIB international banking team and the Istanbul office met with institutional representatives, companies, and correspondent banks in the country at an event held in Istanbul.
Over the past 15 years, CaixaBank has become a “reference bank for local banks and Spanish companies operating in Turkey.”
Initially, it was an entity that only received and issued letters of credit, guarantees, and remittances to Spain, and is now recognized as “an international bank with the capacity to operate globally, offering a wide range of financial products and services.”
In Turkey, CaixaBank currently has a market share of “40% in received guarantees; 33% in CDEs; 25% in issued guarantees; and 33% in CDIs.”
CaixaBank’s international network offers support to the “entity’s corporate clients operating abroad, as well as large corporates.”
With more than 300 professionals, nearly 30 international presence points, and agreements with “over 1,600 correspondent banks, it provides coverage in 72 countries across all continents.”
Currently, CaixaBank operates in the countries that represent “94% of foreign trade flows to or from Spain.”
CaixaBank’s international presence consists of “seven branches and 17 representative offices spread across five continents.”
The financial entity also has two banking subsidiaries: the Portuguese Banco BPI, which is the “fourth largest financial entity” in the country in terms of assets, and CaixaBank Wealth Management Luxembourg, which is exclusively dedicated “to wealth management in multiple jurisdictions.”
CaixaBank also has a Spanish Desk at the Austrian Erste Bank (Vienna) and another at the Mexican Inbursa Bank (Mexico City), from where it “offers services to CaixaBank’s bank and corporate clients in these markets.”