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Novacaixagalicia was the largest financial institution in the autonomy of Galicia. It was established on December 1, 2010 following the merger of two local savings banks Caixa Galicia (Caja de Ahorros de Galicia) and Caixanova (Caixa de Aforros de Vigo, Ourense e Pontevedra). Novacaixagalicia was the fourth-largest caja in Spain in terms of assets and deposits with a turnover of more than 108 billion euros. It had a retail network of more than 1,000 offices, staff of over 8,000 people and more than three million customers. The Bank branch network covered all the autonomous regions in Spain, with a major presence in Galicia. It also had offices in Portugal, Switzerland, England, the U.S. and Latin America including Mexico, Venezuela, Panama, Brazil, and Argentina.

In September 2011, Novacaixagalicia contributed all of its banking assets and liabilities to NCG Banco, S.A., which traded as Novagalicia Banco.

In December 2014, NCG Banco merged with Banco Echeverria and changed its name to ABANCA Corporación Bancaria.

 Credit Ratings (2011)

Agency Long Term Short Term Outlook Financial Strength
Moody's Baa3 P-3 Negative D+
Fitch BB+ B Stable D

Head office address:
Cantón Claudino Pita, 2
15300 Betanzos, La Coruña

May 25, 2011

Novacaixagalicia earns 18.5M in the first quarter

Novacaixagalicia group received an attributed result of EUR 18.5 million in the first quarter, following provisions of EUR 45 million to the generic insolvency fund.