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Caixabank says Catalan crisis has had negative impact on deposits
October 24, 2017 / 8:49 AM / 2 months ago

Caixabank says Catalan crisis has had negative impact on deposits

MADRID, Oct 24 (Reuters) - The political crisis between Spain’s central government and Catalonia has had a “moderate negative” impact on deposits, Caixabank CEO Gonzalo Gortazar said on Tuesday.

Any outflow of deposits had since reversed, Gortazar added, though he would not give specific figures or a timeframe.

In a conference call following the bank’s third quarter earnings report, Gortazar said there had been nervousness among clients after a vote by Catalonia, declared illegal by Madrid, on succession from Spain.

The decision by Spain’s third-largest lender to move its legal headquarters out of Catalonia amid the region’s independence push was not temporary, Gortazar said.

He said the bank had no current plans to transfer staff or business units out of Catalonia. (Reporting by Jesus Aguado; Writing by Paul Day; Editing by Angus Berwick)

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