Caja Mediterrneo Bank Insolvency Case Study Example | Topics and Well Written Essays - 2000 words

Caja Mediterrneo Bank Insolvency - Case Study Example The trademark Caja Mediterrà ¡neo started being used in 2007. Initially the bank used the trademark Caja de Ahorros de Alicante y Murcia. Some of the institutions absorbed to form CAM include Caja de Ahorros de Torrent, which had been formed in 1906, and Caja de Ahorros Provincial de Alicante y Valencia which was absorbed in 1991 (‘Caja Mediterraneo and Accenture Deploy Alnova Core Banking Platform’ 2010, Web). By 1975, several other institutions had joined to form the current CAM. Such institutions included Caja Rural de Ahorros y Prà ©stamos del Sindicato Catà ³lico Agrà ­cola de Yecla, Monte de Piedad y Caja de Ahorros de Alcoy, Caja de Ahorro y Monte de Piedad de Yecla, Caja de Ahorros de Nuestra Seà ±ora de los Dolores in Crevillent, Caja de Ahorro y Monte de Piedad de Elche, Caja de Ahorros de Novelda, Caja de Ahorros de Nuestra Seà ±ora de Monserrate, Caja de Ahorros del Sureste de Espaà ±a, Caja de Ahorro y Monte de Piedad de Alicante, and Caja de Ahorro y Monte de Piedad de Jumilla. Others include Caja de Ahorro y Monte de Piedad de Murcia, Caja de Ahorro y Monte de Piedad de Cartagena, and Caja Rural de Ahorros y Prà ©stamos del Sindicato Catà ³lico Agrà ­cola de El Progreso (‘Spain's central bank favors merger of Caja Madrid’ 2010, Web; manta 2012, Web). By December 2007, CAM Bank was considered the fourth largest Spanish savings Bank. The ranking was based on customer loans and deposits. Moreover, the Bank was ranked the third larger in term of market share and the number of office openings. The bank originated in Murcia and Alicante provinces and offered banking services across Spain. With a network of about 1,100 offices, the bank employed about 7,100 workers and served more than 3, 300, 000 clients. CAM was mainly involved in retail banking. The customers included Small and Medium Enterprises (SMEs) and individuals. In addition, the bank was involved in the provision of services such as insurance as well as asset management (Anon 2011, Web).