Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Cajasur executives fined 2.4 million euros

Source: El Pais - Tue 3rd May 2011

A total of 38 past and present executives from the Cajasur are being fined 2.4 million euros for their combined mismanagement of the Córdoba based regional savings bank, which the state had to take control of in May of last year.

Presidents, vice-presidents, board members and a number of senior managers are being held responsible for the collapse of the Catholic Church owned caja, which posted la loss of 600 million euros before the state had to intervene.

On January 1 of this year, the bank transferred all its assets and liabilities to BBK Bank.

The most significant fine has been imposed upon Priest Santiago Gómez Sierra, currently the auxiliary Bishop of Seville, who was fined 180'000 euros and barred from working for any financial institution for two years.

Gomez Sierra led the religious members of the board, who were considered responsible for botching the merger between Cajasur and Málaga's Unicaja in May 2010. The success of the merger had been a condition set by the Bank of Spain to save Cajasur from financial failure.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs