Bancaja (Caja de Ahorros de Valencia, Castellón y Alicante) was a nonprofit financial institution resulting from the merger of five Valencian savings banks and the subsequent incorporation of Sindibank. Bancaja was the largest financial institution in the Autonomous Community of Valencia and the third largest savings bank in Spain. It served more than 3 million customers through a network of over 1,130 branches (12/2010). The origins of the Bancaja Group date back to 1878, when the "Royal Economic Society of Friends of the Country of Valencia" founded the parent company, Caja de Ahorros de Valencia. On 14 September 2010, the General Assemblies of Caja Madrid, Bancaja, Caja Insular de Canarias, Caja de Ávila, Caixa Laietana, Caja Segovia and Caja Rioja approved an Institutional Protection Scheme (IPS) integration to create a leading national Financial Group - Banco Financiero y de Ahorros (BFA). Currently, Bancaja is part of Bankia S.A., which belongs to BFA Group.