The entity’s representative offices in New Delhi and Singapore register market shares of over 30% in documentary credits and in guarantees managed between Spain and the region.
For a leading banking entity such as CaixaBank, being close to the most important financial centers in the world is important to consolidate its best customer service and its position in the market. These days, the entity celebrates the tenth anniversary of its presence in Central and Southeast Asia with figures that indicate its consolidation in two of the region’s countries where it operates: India and Singapore.
In Singapore, precisely, is where the entity presents record figures: according to data at the end of October 2021, CaixaBank’s branch there registered a 34.5% share in Documentary Export Credits, 29.8% in Documentary Credits for Import and 33% in guarantees managed from Spain and the countries covered by the office, mainly in the Southeast of the continent.
Specifically, from this point, the support services offered by CaixaBank to its customers in their trade and investment activities in 11 countries: Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam, Cambodia, Laos, Myanmar, Brunei, and South Korea.
Given previous experience and the ability to assert its local contacts and its network of correspondent banks in the sectors in which Spanish companies focus their activity, CaixaBank has been able to be at the side of these clients in outstanding operations and projects in the infrastructure and services sectors in the region. On the other hand, the entity has also become a reference in the Trade Finance Program of the Asian Development Bank (ADB) and the International Finance Corporation (IFC).
The consolidation of the CaixaBank representative office in Singapore is also replicated by its counterpart in India. CaixaBank also landed there in 2011, specifically in New Delhi. But this adventure has been taking shape and today it is fully consolidated offering its services not only to Spanish clients and companies interested in operating in the area, but even to Indian companies. The area of influence of this office also extends to Bangladesh, Sri Lanka, Nepal and the Maldives.
2021 marks ten years of permanence in India in which this CaixaBank branch registered at the end of October 2021 a share of 33.1% in Documentary Export Credits, 33.6% in Documentary Import Credits and 39.5% in guarantees managed. Its position in this market has been strengthened over the years with its strategic alliance with the state bank State Bank of India (SBI), with which it has had a collaboration agreement since 2016.
In this decade, CaixaBank has participated in large-scale infrastructure projects in India led by Spanish companies, services or the energy sector. In fact, in 2018 it made a decisive contribution with its financing to start up a wind farm in the Tamil Nadu region, an action that promoted the development of the local economy through the generation of direct jobs in which, in addition, the hiring of profiles in vulnerable situations has been promoted.
CaixaBank’s presence in Central and Southeast Asia is just one example of the global positioning that the entity pursues and that leads it to be present in practically the entire planet through different channels. On the one hand, with its International Banking network of branches and representative offices; also through strategic cooperative alliances with top-level international banks; and of participations in international entities.
CaixaBank International Banking offers support to clients of the branch network, CIB and Business Banking that operate abroad. This network has a worldwide coverage with more than 150 professionals and agreements with more than 1760 correspondent banks. The entity has branches in Germany, France, Morocco, Poland, Portugal and the United Kingdom, and all of them -except Portugal- are authorized by the Spanish and local regulator to provide financial services related to lines of financing and banking services.
In addition, CaixaBank has 18 representative offices spread over the five continents, which make up a network of products and services for the client, which stands out as the first international network belonging to a Spanish financial institution certified by AENOR.