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La Caixa Prepares to List New Bank in 2011, El Confidencial Says

Jan. 24 (Bloomberg) -- La Caixa, a Spanish savings bank, is preparing to set up a new bank that it will list on the stock exchange, El Confidencial reported, citing people in the financial industry it didn’t identify.

The lender is in talks with the Bank of Spain and the Catalonia regional government over the process, which will probably be set in motion in the second quarter of this year, the website said. La Caixa also wants to grow abroad in Europe and Latin America by buying equity stakes, El Confidencial said.

No one at La Caixa was immediately available to comment when contacted by Bloomberg News.

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To contact the editor responsible for this story: Charles Penty at cpenty@bloomberg.net

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