The outcome of the region’s disputed independence referendum is still far from clear, but a light has been shone on where Spain’s banking assets are based.

Catalonia’s declaration of independence following the region’s October 1 referendum, and the Spanish government’s use of emergency powers to seize direct control of the region, has sparked the country’s biggest political crisis in decades.

The outcome of last month’s events is still far from clear. However, more than 1,300 entities have reportedly been prompted to transfer their legal headquarters from the region.

This includes its two biggest banks. Barcelona-headquartered Caixabank, Spain’s third biggest by assets ($366.24bn) and Tier 1 capital, has moved its registered office to Valencia. Sabadell, Spain’s fourth biggest by assets ($223.7bn) and fifth by capital, has moved from the city it is named after to Alicante.

data trends 071117

Of the 17 Spanish banks to feature in The Banker’s latest Top 1000 rankings, they are the only two from Catalonia. But together they account for nearly 16.5% of the country’s bank assets.

Spain’s other biggest lenders are headquartered in Madrid (Santander, BFA Tenedora de Acciones and Banco Popular) and Bilbao (BBVA).

All data sourced from www.thebankerdatabase.com

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