Wednesday, 28 March 2012

CaixaBank and Banca Cívica: too many branches in the same places

Branches in the same village
ANDALUCÍA La Caixa's policy over the years in Andalucía has been to have an office even in the smallest villages and pueblos. As a result, CaixaBank as it is now called, has 637 branches in the region. But Banca Cívica -or rather Cajasol, one of the entities that forms part of it- had the same policy for many years and now has 660 branches in Andalucía. So, with the merger of CaixaBank and Banca Cívica working out the details of the approved takeover, there is a clear duplication of offices in many such places. Nowhere else are the numbers so close. Speaking to employees of both entities this morning over coffee (they still sit at separate tables), the expressions on the Cajasol/Cívica staff were wrinkled with worry, whereas those of La Caixa's lot were smiling rather than not. In other words, the Cajasol employees appear to be expecting to lose their jobs.

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