Caja Madrid

Caja Madrid

Type	Bank
Industry	Financial services and Insurance
Founded	December 3, 1702
Headquarters	Madrid, Spain
Key people	Rodrigo Rato (President)
Products	Consumer Banking Corporate Banking
Net income	€ 622.3 billion (2009)
Number of employees	15,279 (2009)
Website	http://www.obracaja.es/

Caja Madrid, formally the Caja de Ahorros y Monte de Piedad de Madrid, headquartered in Madrid,^[1] is the oldest of the Spanish savings banks. It was founded on 3 December 1702, as Monte de Piedad de Madrid by Francisco Piquer, an Aragonese priest. Caja Madrid is the regional-owned bank of the Community of Madrid (Comunidad de Madrid).

On 30 July 2010, Caja Madrid signed an agreement to merge with six other savings banks to form Bankia on 3 December 2010.^[2] Caja Madrid held a 52.6 percent controlling interest in the new company.

History

Monte de Piedad de Madrid

Door of the chapel of the former Monte de Piedad de Madrid, built by Pedro de Ribera.

The Monte de Piedad de Madrid was the first Spanish Monte di Pietà, following a pattern that had been started in fifteenth-century Italy. These institutions were organised and operated as a charity by Christians, and offered financial loans at a moderate interest rate to those in need. The money lent out was from a fund built up by voluntary donations from financially privileged people who had no intentions of regaining their money.

The people in need would then be able to come to the Monte di Pietà and give an item of value in exchange for a monetary loan. The term of the loan would last the course of a year and would only be worth about two-thirds of the borrower’s item value. A pre-determined interest rate would be applied to the loan and these profits were used to pay the expenses of operating the Monte di Pietà. Such organizations spread throughout the continent of Western Europe during the Middle Ages, a credit to the preaching of Franciscans and their condemnation of usury.

The Montes de Piedad appeared in Spain when Francisco de Piquer y Rodilla founded the Monte de Piedad de Madrid in 1702 by depositing a silver Spanish real in a box as the beginning of a fund to which he gave the name, Nuestra Señora del Santo Monte de Piedad de las Ánimas . It was intended that the fund would be augmented by the donations of the faithful who wished to ease the suffering of the souls of their relatives who were in purgatory by providing donations that could be used as loans to ease the suffering of the needy in this life.

Caja de Ahorros

The Monte de Piedad de Madrid did not charge interest on its loans until 1836 when a charge was introduced to cover operating costs of the organisation. In 1838, by royal decree, the Caja de Ahorros de Madrid was founded as a savings bank on the British model following the ideas of Jeremy Bentham. Initially the Caja de Ahorros and the Monte de Piedad worked closely together but remained separate institutions.

In 1869 the two institutions were merged and became the Monte de Piedad y Caja de Ahorros de Madrid. Later, to show the importance of the savings side of the operation, the title of the merged institution was reversed and it became the Caja de Ahorros y Monte de Piedad de Madrid.

Current business

Torre Caja Madrid, the headquarters of Caja Madrid, situated in Fuencarral-El Pardo, Madrid.

Caja Madrid is the fourth largest financial group in Spain, with a turn-over of 180,700 million euros in 2005. It has 12,800 employees in a national network of 1,900 offices, and four foreign branches in Miami, Lisbon, Dublin and Vienna. It also has 330 bank branches within the offices of the insurance company, Mapfre.

Apart from its traditional banking business, Caja Madrid participates in a collection of companies, either directly or via the holding company, Corporacion Financiera Caja Madrid..

Social responsibilities

Caja Madrid carries out social work through two entities that it has set up: Obra Social Caja Madrid and Fundación Caja Madrid. These carry out work on its behalf in the fields of social work, teaching, cultural matters and the environment. For example, Fundación Caja Madrid set up La Casa Encendida in Madrid in 2002. In 2005 the amount spent by the two bodies on behalf of Caja Madrid reached 161 million euros. Some of the bank’s users have criticised it, along with the other Spanish savings banks for having lost its charitable character in the course of developing its business as a bank.

New headquarters

In 2009 Caja Madrid acquired a new headquarters in a newly completed sky-scraper office block known as Torre Caja Madrid (Caja Madrid Tower). The tower had been intended for the Spanish company Repsol, and the principal architect was Norman Foster. The tower is now leased by CEPSA and it used to be called Torre CEPSA. It is situated in the district of Fuencarral-El Pardo in Madrid. The tower has 45 floors and is 250 metres high.

References

↑ "Inicio." Caja Madrid. Retrieved on January 7, 2011. "Plaza de Celenque, 2. 28013 Madrid"
↑ "Creation of the Bankia Group". Bankia. Bankia. Retrieved 9 March 2016.

External links

Caja Madrid site (Spanish)

Members of Euro Banking Association

Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg AG BKS Bank AG Erste Group Bank AG Oberbank AG Oesterreichische Nationalbank Raiffeisen Zentralbank Österreich AG Raiffeisenlandesbank Oberösterreich AG Raiffeisen-Landesbank Tirol AG Steiermärkische Bank und Sparkassen AG

Belgium	Dexia Bank NV KBC Bank NV Bank van De Post

Cyprus	Bank of Cyprus Hellenic Bank

Denmark	Amagerbanken A/S Arbejdernes Landsbank A/S Danske Andelskassers Bank A/S Danske Bank A/S DiBa Bank A/S Djurslands Bank A/S Jyske Bank A/S Nordjyske Bank A/S Nørresundby Bank Østjydsk Bank A/S Ringkøbing Landbobank Roskilde Bank A/S Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank A/S Vestfyns Bank A/S Vestjysk Bank

Finland	Aktia Bank PLC Bank of Åland PLC Pohjola Bank PLC S-Bank LTD. Tapiola Bank LTD

France	Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas SA BPCE BRED Banque Populaire Crédit Agricole SA Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale

Germany	Berenberg Bank BHF Bank Bremer Landesbank Commerzbank AG Deutsche Bank AG Deutsche Bundesbank Deutsche Postbank DZ Bank AG Europe Arab Bank Frankfurt Hamburger Sparkasse AG J.P. Morgan Chase Bank AG Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss EURO CLEARING Bank GmbH The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland) AG

Greece	Alpha Bank SA Eurobank Ergasias SA National Bank of Greece SA Piraeus Bank SA

Hungary	Magyar Nemzeti Bank OTP Bank FHB Mortgage Bank Merkantil Bank Kereskedelmi és Hitelbank Magyar Takarékszövetkezeti Bank MKB Bank Porsche Bank Hungaria Kinizsi Bank MagNet Bank Hanwha Bank Budapest Hitel- és Fejlesztési Bank

Ireland	Allied Irish Banks Bank of Ireland

Italy	Banca Agricola Popolare di Ragusa Banca del Fucino Banca del Piemonte Banca delle Marche Banca di Imola Banca Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare dell'Emilia Romagna Banca Popolare di Milano Banca Popolare di Sondrio Banca Popolare di Vicenza Banca Sella Banca Tercas Banco Popolare Cassa di Risparmio della Provincia di Chieti Cassa di Risparmio di Cesena Cassa di Risparmio di Fermo Cassa di Risparmio di Ferrara Cassa di Risparmio di Loreto Cassa di Risparmio di Ravenna Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Istituto Centrale delle Banche Popolari Italiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Südtiroler Volksbank – Banca Popolare dell'Alto Adige UBI Banca UniCredit Veneto Banca

Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Banque Internationale à Luxembourg SA KBL European Private Bankers Société Générale Bank & Trust

Netherlands	ABN Amro Bank NV De Nederlandsche Bank ING Bank NV Rabobank Nederland

Poland	Bank BPH SA Narodowy Bank Polski

Portugal	Banco BPI SA Banco Comercial Português Crédito Agrícola Caixa Geral de Depósitos Novo Banco

Slovenia	Banka Slovenije

Spain	Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A.

Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank AB Nordea Bank AB

United Kingdom	Bank of Tokyo-Mitsubishi UFJ Ltd. Barclays Bank PLC Citibank NA DNB Bank (NOR) HSBC Bank PLC JPMorgan Chase Bank, N.A., London Branch Kookmin Bank International Ltd. Lloyds Bank PLC MashreqBank psc (UAE) Royal Bank of Scotland PLC UBS AG Wells Fargo Bank NA

Non-EU	Bank of China (CHN)

Demolished landmarks in Madrid

Founded before the Habsburgs	Royal Alcázar of Madrid Romanesque churches Atalaya de la Villa and Atalaya de la Corte Iglesia gótico-mudéjar de Humanejos

Built during the Habsburgs	Palacio del Buen Retiro Antigüa Real Armería de Felipe II Casa del Tesoro Torre de la Parada Convento de Santo Tomás Convento de San Felipe el Real Iglesia del Buen Suceso Palacio de Alcañices Noviciado de la Compañía de Jesús Convento de los Agustinos Recoletos Convento del Carmen Calzado Convento de la Natividad y San José Fountain de la Abundancia Fountain of the Harpies

Built during the Early Bourbons	Palacio de La Moncloa Convento de San Norberto Real Fábrica del Buen Retiro Monte de Piedad de Madrid Fountain de La Mariblanca

Built from the 19th century	Quinta del Sordo Hotel Florida Palacio del Duque de Úceda Fiesta Alegre fronton Palacio de Xifré Palacio del Marqués de Portugalete Palacio del Marqués de Casa Riera Palacio de Indo Palacio del Duque de Arión Former monument to victims of the attack against Alfonso XIII

City Walls and Gate Walls	Muslim Walls Christian Walls Walls del Arrabal Walls of Philip II Walls of Philip IV Puerta de Atocha

Related	Project of Filippo Juvarra for the Royal Palace of Madrid

Other	List of missing monuments in Spain Reconstruction (architecture)

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