7 of market share is without appeal and without ambiguityOn the other hand that of BHP Billiton continuesAnd again the next day on the closing priceParticipation must be simple to understand and implement mechanismsGame void Romney McCain among RepublicansNo economy keeps growing at the same pace foreverThey have now several documents available to them42 billion in 2006 either internal growth of 37The banks want at least hand left the home Bank6 consistent with the average forecast and 24Facing the environment change happened last summer, with the "subprime" crisis in the United States, the Caixa sees 2008 as a year of opportunities ". With 25.1 billion euros of liquidity, the Catalan savings bank, whose assets total $ 248,5 billion EUR ( 18.8), has already launched two operations in Spain last month. It has acquired the activities of Bank of Morgan Stanley and concluded an alliance with Boursorama to develop an online bank. Developments could also intervene international. The group now has a tool to develop with Criteria, his holding of shares listed in since the fall of 2007. Has generated, in 2007, a net capital gain of 360 million on a portfolio whose market value amounted to EUR 21.9 billion at December 31.
Assessed by some EUR 600 million, the transaction with Morgan Stanley will allow la Caixa to add funds under management EUR 9 billion to 18 billion portfolio and to move in the trio of head of the private Spanish territory management. That involving an investment of 20 to 30 million euros, the creation of a society with Boursorama who will hold 51 of the shares is on its side to compete with ING Direct and achieve term client 300,000. The first savings of Spain will provide the products and its French partner expertise and local client 20,000 of its brokerage subsidiary Online Self Trade. Criteria holds 20.4 of Boursorama alongside Société Générale (56). Catalan leaders do not believe that the recent problems of the French Bank can call into question the agreement. An international group focuses its development on Central Europe, Asia and the United States. Started last year with implantation in Poland and Romania, the offensive will continue in the region. The savings bank, which took 8.9 of the capital of The Bank of East Asia, with EUR 628 million, wants to take the time to find his marks with this partner as one of the foreign banks the best positioned in China. While an incursion to the Morocco is already in the menu, Isidro Fainé, President, and Juan Marian Nin, the Director-General, do not exclude a breakthrough across the Atlantic, if an opportunity presents itself.
Strategic plan
Despite the reversal of situation, la Caixa who recorded last year, a growth of its activities by 14.3 to EUR 385,6 billion, 15.8 per cent in the field of credit (42 of revenues), maintains the objectives of its strategic plan. The Fund aims to display recurring profit of 3 billion euros and a return on equity of 20 by 2010. This does not prevent him to tighten the bolts. While the rate of unpaid is passed in a year from 0.33 to 0.55 with coverage of 281 444,4 in 2006, 100 million additional euros were provisioned in the last quarter. Which, added to less significant exceptional items (477 million against EUR 1.5 billion in 2006), resulted in a decrease of 17.8 benefit to 2.4 billion. Is the recurrent result not in progressing not less 33.5, to EUR 2 billion, while return on equity remains to 19.4. "We have a solid base," provide the leaders, who expect a growth of 10 to 15 per cent of the activities this year.
