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CaixaBank names board for new payments and consumer subsidiary

CaixaBank names board for new payments and consumer subsidiary

Spain's CaixaBank has named a 15 member-strong board for its newly created payments and consumer finance subsidiary.

The new company is chaired by Juan Antonio Alcaraz, CaixaBank's chief business officer, with Juan Gandarias as its CEO. The board contains seven independent directors and four women.

CaixaBank says that merging its payments and consumer finance units will help to accelerate "technological capabilities" as well as create synergies and make it easier to develop partnerships with third parties.

The unit manages outstanding credit of close to EUR8.3 billion and is Spain's leading card payments company, with a total of 17.8 million units on the market.

Alcaraz says: “Today we have taken the first official step in giving this company a leading role both in the growth of the sector in Spain, especially faced with the current framework of digital transformation, and in boosting CaixaBank's goals in terms of profitability.”

Gandarias adds: “With 650 employees and 16 million customers that trust us, we take on the mission of developing solutions to offer the best payments experience and to finance people's dreams and projects.”

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