• Isidro Fainé, Chairman of CaixaBank, said "our business model and the great human and professional qualities of those who comprise CaixaBank Group will see the bank lead in terms of trust and profitability over the next 4 years: we have stood apart from the rest and will continue to do so."

• According to Fainé, "Spain's economy is benefitting from the reforms that have been introduced. We expect GDP growth of at least 2.5% this year, the fastest pace of expansion among major Eurozone countries, as well as the creation of 500,000 jobs."

• The Chairman of CaixaBank reiterated the bank's commitment to sustaining similar shareholder remuneration in 2015 as in 2014, with the intention of earmarking a minimum of 900 million euro for dividends.

• Meanwhile, CaixaBank CEO Gonzalo Gortázar drew attention to the bank's key strengths, which will provide the basis for achieving its objectives going forward: "A solid capital base to support growth, a large size but flexible structure, technological leadership, a culture of innovation, a team of professionals that work in harmony with client requirements and a first-class shareholder base."

CaixaBank's Annual General Meeting today approved the bank's 2014 management and results. The bank, overseen by Chairman Isidro Fainé and CEO Gonzalo Gortázar, obtained the backing of the majority of shareholders, who passed all resolutions proposed by the Board of Directors for the issues on the session agenda.

Speaking at the AGM, Isidro Fainé, Chairman of CaixaBank, stated that the bank "has not only emerged stronger from the restructuring seen in Spain's financial industry since 2007, but has in fact been the standard bearer for the change, establishing itself as one of the most solvent banks in Europe."

"Throughout the corporate restructuring of "la Caixa" Group, which culminated in the creation of the "la Caixa" Banking Foundation, we never lost sight of our priority, which is none other than to provide our clients with the very highest standards of quality, thus generating sustainable value for CaixaBank clients shareholders alike."

"Said restructuring", said the CaixaBank Chairman, "further bolsters the corporate governance standards upheld at "la Caixa" Banking Foundation, ensuring that shareholder interests and those of the bank remain the priority when decisions are made."

2014 results and a new Strategic Plan for 2015-2018

In his speech, Fainé described 2014 as "another remarkable year for CaixaBank in term of business activity, in which we achieved our targets thanks to an unbeatable commercial network."

He also underlined three key aspects from 2014: good liabilities price management, costs being reined in and outstanding results from the asset quality review and stress tests performed by the European Central Bank on European banks in October.

"Over the last 4 years", said the CaixaBank Chairman, "our leadership in the Spanish market has gone from strength to strength; our business market share has grown from 10% to more than 15%."

Discussing the new 2015-2018 Strategic Plan, Isidro Fainé stated that "one of the key objectives is to achieve recurrent profitability in excess of cost of capital, which will require firm action in terms of reining in costs and driving up turnover, meaning more clients and greater customer connection."

The new Strategic Plan will benefit from a far more benign climate, which will include economic recovery, very low interest rates and sustained regulatory pressure. "Simple and robust banks such as CaixaBank are expected to emerge significantly stronger", surmised Isidro Fainé.

"We have stood apart from the rest and will continue to do so"

Fainé also outlined the distinguishing hallmarks of CaixaBank's model, "which must be harnessed to drive growth over the coming years". These are: customer segmentation, a pervasive branch network, a comprehensive range of products and services and strong investment in innovation and technology.

"This business model and the great human and professional quality of those who comprise CaixaBank Group will see the bank lead in terms of trust and profitability over the next 4 years", said Fainé. "We have stood apart from the rest and will continue to do so. This is our pledge for the next 4 years."

"The Welfare Projects run by the "la Caixa" Banking Foundation, which are financed via the dividends that the Foundation generates from its investments, are the most evident expression of what makes us different", concluded the Chairman of the "la Caixa" Banking Foundation.

A substantial improvement from advanced economies

As for the economic climate, Fainé pointed out "a considerable improvement from advanced economies in 2014, particularly the United States, while growth has diminished in emerging economies." Regarding Spain, Fainé said "the country is also benefitting from the reforms that have been introduced. We expect GDP growth of at least 2.5% this year, the fastest of any major Eurozone country, and more than 500,000 jobs to be created."

"A healthier financial system and improving economic prospects are already having an impact on key financial variables", observed the CaixaBank Chairman. "Outstanding credit figures will soon begin to grow thanks to price spreads narrowing against other European countries and a good performance from new loan production."

A unique and integrated distribution platform

Gonzalo Gortázar, CEO of CaixaBank, dedicated much of his speech at the AGM to detailing CaixaBank's financial performance during 2014.

He summarised the bank's year in four key aspects: an improving commercial position, better operating results in all business lines, a decline in troubled assets and NPLs, and sustained high liquidity and solvency levels.

The CEO of CaixaBank remarked on the bank's "success achieving growth throughout the financial crisis. If we cast our minds back 20 years", said Gortázar, "the Group's performance looks even more striking; in 1994 10% of retail customers regarded "la Caixa" as their primary bank. Now that proportion stands at 24%."

"We have achieved growth during times of turmoil and recovery alike," observed Gortázar, "driven by acquisitions but also by the commercial efforts of our entire workforce."

Gortázar also emphasized one aspect that "distinguishes CaixaBank from other banks: a unique and integrated distribution platform, with over 5,200 branches, more than 9,500 ATMs and virtual banking channels that are at the forefront of the industry. This platform is a most valuable distinguishing hallmark for the bank", said Gortázar, "built as a result of enormous hard work and representing a source of pride, as well as a basis for growth going forward."

The best bank in terms of quality and reputation

CaixaBank's CEO recapped the five main aspects that shape the 2015-2018 strategic plan. In order to comply with the first objective and drive customer connection with the bank, while also establishing CaixaBank as the best bank in terms of quality and reputation, Gortázar stressed that "a unique, accessible and transparent service must be offered, combined with high quality consultancy to generate added value for clients, and finally we must uphold our commitment to society."

"If the public does not recognize that we have an important role to play, and that we play it well, accomplishing the second and more quantitative objective will be very difficult: achieving sustainable and recurring profitability that exceeds cost of capital", said Gortázar. He also outlined the other three key aspects of the plan: "Sustaining strong capital via active management, continuing our current leadership in the digitalisation of banking, and finally ensuring that our workforce is better prepared and more dynamic."

Finally, CaixaBank's CEO discussed the key strengths that will provide the basis for achieving the bank's objectives going forward: "A solid capital base to support growth, a large size but flexible structure, technological leadership, a culture of innovation, a team of professionals that work in harmony with client requirements and a first-class shareholder base."

A pay of 900 million euro to our shareholders

Isidro Fainé pointed out the 15.1% gain in value recorded by CaixaBank stock in 2014, outperforming the average for the major Spanish banks by 12% and the Ibex35 by 11%.

Fainé also discussed the bank's 2014 dividend, "making progress in our pledge to gradually pay remuneration in cash as of 2015, with the June payment against 2014 accounts being made in cash."

CaixaBank's 2015 shareholder remuneration plan will be similar to that of 2014: quarterly payments (2 cash payments and 2 payments with scrip option), for a total of 16 cents per share, which, according to Fainé, represents "a very strong yield, with the bank set to pay a minimum of 900 million euro to our shareholders."

Meanwhile, the AGM also approved the appointment of Antonio Massanell, Gonzalo Gortázar and Arthur K.C. Li as new members of the CaixaBank board of directors, while Salvador Gabarró and Francesc Xavier Vives were re-elected to their positions.

Participation of the shareholders in the General Shareholders' Meetings

During the CaixaBank, S.A.'s Annual Shareholders' Meeting held today on first call, with the attendance or representation of 7,211 shareholders, holders of 4,037,118,283 shares, representing 69.99% of share capital, the shareholders approved all the proposals submitted by the Board of Directors regarding items included in the agenda.

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