Barcelona-based savings bank la Caixa, Spain’s third-largest bank,
has earmarked €500 million ($679.7 million) for social and
community projects this year, around one-quarter of its fiscal 2008
net earnings of €2.05 billion. Savings banks in Spain are legally
obliged to support such projects (see RBI 602).

The donation is in line with la Caixa’s
2007-2010 strategic plan for community projects, designed to
consolidate and increase the savings bank’s commitment to social
causes. La Caixa’s charitable wing is Spain’s leading private
foundation, the third-largest in Europe and the seventh-biggest in
the world in terms of budget.

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Projects supporting the elderly, immigrants
and families in poverty have all benefited from the bank’s social
programme, while the foundation also backs initiatives to protect
the environment and promote Spanish culture.

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