The CEO of Caixabank, Gonzalo Gortázarhas assured within the framework of the ’31st ABC-Deloitte Financial Sector Meeting’ that financial entities need a stable regulatory framework. This allusion comes from the bank tax that is currently being processed in Congress.
In this sense, Gortázar has pointed out that if banks do not have adequate profitability, they will not be able to help in growth. He has explained that credit should grow like nominal GDP.
Regarding the evolution of the business, the CEO of Caixabank has made it clear that solid and profitable banking is needed, “but that should not generate the feeling that one earns too much.” Without an explicit mention of the bank tax, the request for a stable regulatory framework has been one of the keys in his intervention.
There has also been time to talk about corporate movements, in this case at a cross-border level, as is happening now in Germany, Gortázar recalled that they have participated in the main cross-border operation to datein Portugal;, and in Spain they have “led the largest union; and in both cases we have had positive results.
However, the most visible management face of Caixabank believes that the merger between banks from different countries is a problem in the creation of value. “Although there may be cases that may make sense.”
Regarding the company’s growth, he assumes that purchasing power is recovering, “and the savings rate is very high.” The perspective is that the business will continue to grow.
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