| Kutxabank, S.A. | |
| Type: | Sociedad Anónima |
| Industry: | Financial services |
| Foundation: | 1 January 2012 |
| Location: | Bilbao, Spain |
| Key People: | Gregorio Villalabeitia Galarraga (Chairman), Francisco Javier García Lurueña (CEO) |
| Products: | Universal banking, insurance, investment holdings |
| Net Income: | €330.5 million (2022)[1] |
| Assets: | €54.7 billion (2022) |
| Num Employees: | 5,343 (2022) |
| Predecessor: | Bilbao Bizkaia Kutxa Gipuzkoa Donostia Kutxa Caja Vital Kutxa |
| Homepage: | www.kutxabank.com |
Kutxabank is a Spanish bank founded and based in Bilbao. It was officially created on 1 January 2012 out of the merger of three Basque financial institutions operating in their respective provinces: Bilbao Bizkaia Kutxa (BBK), based in Bilbao; Gipuzkoa Donostia Kutxa (Kutxa), based in San Sebastián; and Caja Vital Kutxa (Vital) based in Vitoria-Gasteiz.[2]
As required by the Spanish Government's bank merger deadline, all three institutions ceased to exist as savings banks after a long period of internal deliberation and integration. Kutxabank operates in Andalusia and Extremadura with the brand CajaSur.
Kutxabank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[3] [4]
The European stress test measuring solvency in periods of credit crisis showed that Kutxabank ranked first in Spain, standing out as the soundest financial institution (data published in October 2014).[5] A report issued by the European Bank Authority in December 2020 considered Kutxabank the most solvent bank in Spain, also ranking higher than the European average.[6]