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29/02/2012

Banca Civica earns 183 million Euros in 2011

Banca Civica closed the 2011 financial year with a net profit of 183 million euros, 6% lower than the 2010 proforma results. Better than estimated cost synergies and slightly lower integration costs have enabled the entity, formed by Caja Navarra, Caja de Burgos, Cajasol and CajaCanarias to achieve pre-tax profits - the group's first in its present composition - 37% higher than in 2010.
23/02/2012

Banca Civica creates the temporary withdrawal of contracts and the reduction of salaries as an alternative to forced employee redundancies

Today, in the framework of the entity's labour working group, Banca Civica has created a programme of temporary withdrawals of contacts with rotative shifts of one part of the payroll, which would generate significant savings in order to attain of 50% efficiency ratio by the end of next year. This method would have to be combined with other solutions, such as the generalised reductions of salaries and the removal of pension plan contributions.