Spanish bank Caixabank has been the latest company to announce it will move its headquarters to Valencia.
The move is expected to be made effective on 9 October once the Spanish government publishes in the Official State Gazette (BOE) the decree that enables companies to move their headquarters without needing the first validation of their shareholders board (provided the transfer is in Spain).
The announcement follows the path traced out by Banco Sabadell, Gas Natural or Mediolanum, which have recently confirmed they are moving headquarters out of Catalonia in order to guarantee continued access to the rest of Spain and the European Union in the face of a hypothetical secession.
CaixaBank said the decision aims at protecting the interests of its customers, shareholders and employees, while ensuring the entity remains operating under the regulatory supervision of the European Central Bank (ECB).
It added the transfer does not involve the movement of its employees, as the entity has corporate and operational headquarters in a wide range of cities in Spain.
CaixaBank has 15.8 million customers in the Iberian market, 5,468 branches, the largest commercial network in Iberia and over 37,000 employees.