- Kutxabank has taken the step of entering the investment bank sector and has signed an agreement with one of the main players in the sector in the Spanish and European state, Alantra society. This would be a greater presence in the "business market".
Two months ago, President Kutxabank, Anton Arriola, drew the new trajectory of the financial institution: "We have to grow, we have to grow beyond the borders of the Basque Country." And it seems I didn't lie. Alantra has just signed an agreement with one of the main investment banks of the Spanish State, excluding the multinational investment banks.
We have read the news in El Diario Vasco. The aim would be to increase the number of games in the "business market", with the support of this company that manages mergers, purchases and financing operations.
So far, Kutxabank has carried out these operations through Norbolsa, a company in which he participates, but as he wants to play the older one, "we have to grow geographically and through the activities", he has made a deal with the investment bank of Madrid.
Alantra also specialises in venture capital investments and has relevant clients in this field such as the Israeli cybersecurity company Panorays
Wire has almost five hundred workers in its offices spread over 21 countries. It specialises in venture capital investments and has significant clients in this field. In March 2023, for example, it purchased a stake from the Israeli company Panorays, which does cybersecurity business through its venture capital subsidiary 33N Ventures.
Internal changes
The signing of agreements with investment banks has not been Kutxabank’s only measure in its new strategy. The managers of the retail business and the business network have changed, as communicated last week by note.
The Territorial Directorate of this matter in Álava, Bizkaia and Gipuzkoa has renewed the privatized banks after the merger of the public savings banks, within its "strategic objective of growth and improved profitability".