|Bilbao Bizkaia Kutxa headquarters in Bilbao|
Bilbao Bizkaia Kutxa (BBK) is a Spanish savings bank based in the province of Biscay in the Basque Country. BBK is the ninth-largest savings bank in Spain based on consolidated assets. It operates through a network of more than 790 branches, 590 of which are located outside the province of Bizkaia. Bilbao Bizkaia Kutxa is the entity resulting from the merger between Caja de Ahorros y Monte de Piedad Municipal de Bilbao and Caja de Ahorros Vizcaína, which was formalised in 1990. As of December 31, 2011, BBK had EUR 28.888 billion in total assets.
|Society||% bbk||Book value (thousands of euros)|
|Arecibo Servicios y Gestiones||31.3||267,991|
Gran Via 30-32
48009 Bilbao (Bizkaia)
Phone: +34 94 401 70 00
Fax: +34 94 401 78 00
The most significant subsidiaries:
BBK Bank CajaSur was incorporated in 2010. In January 2011, it received the assets and liabilities transferred from the now defunct CajaSur.
BBK Gestión, SGIIC
This company manages the Group’s investment funds. It currently manages net assets totalling EUR 2.593 billion distributed among 44 funds. BBK Gestión is placed 14th (out of more than 100 companies) in the investment management industry ranking.
GESFINOR engages in business administration and in the provision of administrative and accounting advisory services. It comprises occupational system pension funds such as Hazia, Gauzatu, and Zaintza and individual system pension funds, including Baskepensiones.
BBK Emprestitos S.A.U.
This company engages in the issuance of notes. At 2010 year-end, the face value of the notes issued was EUR 657.41 million.
BBKGE Kredit EFC
The object of this company is the granting of personal loans and consumer finance products, and insurance products linked to credit facilities. Its investments outstanding amounted to EUR 375,086 thousand at 2010 year-end.
Kartera 1, S.l., Kartera 2, Sl. and Kartera 4, S.A.
These three companies engage in the holding and management of assets. They manage various kinds of investments and their total assets amount to EUR 2.99 billion, EUR 81.72 million and EUR 14.12 million, respectively.
Neinor, S.A. and Neinor Group
This is a company that engages in property development and in which the BBK Group centralises its investments and the management thereof in different sectors of the property industry, both industrial and residential. The total assets of the Neinor Group amount to EUR 512.09 million.
Fineco Sociedad de Valores, S.A. and Fineco Group
This company engages in asset advisory and management services. The Fineco Group mainly specialises in private banking for institutions and high-net-worth individual investors. As of December 2010, it managed EUR 923.06 million in assets.