Catalan Banks Say Business Normal After Calls to Pull Cash

Updated on
  • Catalan separatists urge supporters to withdraw deposits
  • Protest comes after banks move legal domiciles out of region

CaixaBank, Sabadell 'Normal' After Cash Pull Calls

CaixaBank SA and Banco Sabadell SA said business was normal after Catalan separatists called on supporters to make cash withdrawals, singling out lenders that have moved their legal domiciles out of the region.

In a video posted on Twitter late Thursday, the pro-independence Catalan National Assembly urged Catalans to withdraw money from five banks between 8 a.m. and 9 a.m. Friday.

If you are a client of Banco Sabadell or La Caixa express your disagreement with the shift of their domiciles outside of Catalonia,” the video said. It had been retweeted or liked more than 9,500 times by 9:26 a.m. in Madrid Friday.

Spokesmen for the two banks, the region’s biggest, said business was normal early Friday.

CaixaBank and Sabadell led a corporate exodus this month as executives looked to shield their businesses from the turmoil of a possible declaration of independence from Spain.

The banks that moved their legal base from Catalonia earlier this month have seen deposits swell in recent days, Spanish Economy Minister Luis de Guindos said in Madrid on Thursday.

“I’m here to protest -- it’s a symbolic amount,” said Eva Marti, 42, a public worker as she withdrew money from a CaixaBank cashpoint in the Catalan capital of Barcelona. “I’ve banked with CaixaBank for years and I’m surprised to see them withdraw from Catalonia at a time like this.”

Lluis Llach, a Catalan singer, was among people passing around tweets recommending that people should take out 155 euros ($183). Spain’s government is moving to enact Article 155 of the country’s constitution to suspend the region’s autonomy.

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