Euromoney names CaixaBank the ‘Best Domestic Private Bank in Spain 2023’

New international accolades for the CaixaBank Group’s Private Banking

• In addition to this highest national recognition, this year the international magazine has also chosen CaixaBank as the ‘Best Private Bank for Digital in Spain' and the 'Best Private Bank for Discretional Portfolio Management in Spain'. Moreover, Banco BPI was selected as the "Best Domestic Private Bank in Portugal’.
• The British magazine singled out CaixaBank for its commitment to innovation and new technologies to guarantee the best customer service, for the quality of its products, and for its discretionary management, in which the company is a leader in Spain.
• This is the fifth time that CaixaBank has been named ‘Best Private Bank in Spain’ by Euromoney.

CaixaBank was awarded as the Best Domestic Private Bank in Spain 2023 at the Global Private Banking Awards, which the British magazine Euromoney has been presenting to the world's best private banking and asset management companies for 20 years. This marks the fifth time that CaixaBank Private Banking has received the top domestic recognition at the Euromoney awards. In addition, BPI was selected as the Best Domestic Private Bank in Portugal 2023.

At the award presentation ceremony, held last night in London, the CaixaBank Group was one of the highlights of the evening, receiving four awards, which position it as a benchmark in private banking in the Iberian Peninsula. In addition to the two main domestic awards mentioned, CaixaBank was also chosen as Best Private Bank for Discretionary Portfolio Management in Spain 2023 and Best Private Bank for Digital in Spain 2023.

Víctor Allende, head of Private Banking and ‘Pensar en el Futuro’ at CaixaBank, highlights that “this award recognises the excellence of our private banking business model, which is focused on service quality, constant growth and the use of new technologies in order to offer the best customer experience. The value proposition of CaixaBank Private Banking offers different service models to adapt to the needs and preferences of each customer, with fully transparent fees, the best advice and an omnichannel service to advise our customers at all times. This is how we want move forward and position ourselves as a benchmark company in the process of transforming Private Banking in our country”.

Leader in discretionary management and pioneer in independent advice

In recent years, CaixaBank Private Banking has solidified its position as a pioneer in providing wealth management advice through its leadership in discretionary management in Spain and its support for independent advice.

The award for 'Best Private Bank for Discretional Portfolio Management in Spain 2023' recognises the leadership of CaixaBank Private Banking in this area, with the bank having €24.67 billion under management at the close of 2022, 7.5% more than in 2021. In 2022, this service was reinforced with the creation of Smart Rentas, a delegated investment service whose portfolio is managed in accordance with the personal needs and circumstances of customers, and that pays out income annually.

CaixaBank was the first bank in Spain to offer independent advice with the launch more than four years ago of CaixaBank Wealth, a value proposition for customers with assets in excess of €4 million. This service is offered at 13 exclusive centres. This commitment was reinforced in 2022 with the new Independent Advisory service and the creation of OpenWealth.

Independent Advisory is a service for customers with a potential net worth of one to four million euros. It offers a full range of products and services for an explicit advisory fee, guaranteeing full transparency for the investor. This service has specialised advisers in Private Banking centres.

As for OpenWealth, also launched in 2022, this is a pioneering independent advisory service in Spain, intended for customers who are worth over €50 million. The goal is to offer Multifamily Office services, regardless of where the customer's assets are deposited. 

Commitment to innovation and digitisation

The 'Best Private Bank for Digital in Spain 2023' award showcases the strategy of constant innovation in the use of new technologies to improve digital communications and how we interact with our customers. This recognition is the result of a search for excellence in our business model so that we can give customers the best experience through the use of digital tools that allow us to adapt to their needs at all times.

CaixaBank Private Banking

The value proposition of CaixaBank Private Banking offers different service models to adapt to each customers' preferences, from those who seek a comprehensive advisory service, to those who rely on their own initiative to manage their wealth through a platform that offers global investment services in securities, funds and other management products.

CaixaBank's Private Banking model has a staff of over 1,000 specialised professionals and 73 dedicated centres distributed all over the country. At the close of 2022, the division managed assets worth over €116.6 billion.

As a result of its non-stop efforts, the bank was named 'Best Performing Private Bank in Europe 2022’ by The Banker magazine (Financial Times Group); and in the area of innovation and digitisation, it was voted 'Most Innovative Private Bank in Western Europe 2022' by Global Finance; and 'Best Private Bank for Big Data Analytics and Artificial Intelligence in Europe 2022' and 'Best Private Bank in Digital Marketing and Communication in Europe 2022' by PWM magazine (Financial Times Group).