All Spanish banks are interested in the 9.4% of Bizum sold by CaixaBank | Companies


All Spanish banks are interested in the 9.4% of Bizum sold by CaixaBank




CaixaBank already has a response from the banks regarding their interest in buying 9.4% of the capital of the Bizum small payments platform, as confirmed by financial sources. And everything indicates that the interest is total. Following the merger of CaixaBank with Bankia, the new financial entity has found a 33.4% stake in Bizum, after adding the 23% previously owned by the Catalan-based entity and the 11% owned by the now defunct Bankia. But according to the statutes of the payment platform in which all Spanish banks participate, no entity can have more than 24% of its capital, which is why the firm chaired by José Ignacio Goirigolzarri has already started the sale of the surplus of the 9 , 4% that it has in its capital.

In mid-June, CaixaBank began the process of selling this stake, and as of today practically all the partner banks of this platform have shown their interest in acquiring this stake, or part of it. CaixaBank sources have explained that “the operation is being carried out in accordance with Bizum’s bylaws: CaixaBank has formally stated its intention to sell the excess stake and we are receiving a response from the rest of the company’s partner banks, most of them interested in expanding their own participation by buying a small part of ours “, they point out

As they have confirmed to Five days financial sources, there are some platforms, such as fintech, who have also been interested in participating in this operation to be able to enter Bizum’s capital. But, for the moment, they cannot enter this sale process, and due to the interest aroused by banking, it seems that they will not have the opportunity to enter society.

“There will be no buyers who are not current Bizum partners. There is enough demand to solve the excess of participation in this way and Bizum’s bylaws give priority to the entities that are part of the company ”, explain legal sources familiar with the process.

Outside the operation is also ING, which despite having integrated Bizum among its applications, does not participate in its capital, and therefore does not have a purchase option. Another group of about five very small entities have refused to participate in the sale.

The big unknown is still the price of Bizum, since this is the first time since its creation in 2016 that a stake has been put up for sale.

Sources from the process explain that “no decision has been made yet. The statutes also regulate procedures to fix it ”. Now, and after the interest shown by all banks, the next step is to carry out the exact distribution of participation by entity by the procedures also established in the Bizum bylaws. This phase is expected to end during August.

After a somewhat slower start-up than initially expected, Bizum has now achieved a cruising speed in the number of clients and in the number of operations, and is already considered the great success story of the whole of Spanish banks.

As explained by its CEO, Ángel Nigorra, in an interview, at the end of the first semester “we had 16.5 million users and 18,250 online businesses that accept Bizum. The plan is to have 20,000 shops and 20 million users at the end of this year ”.

After CaixaBank, with 33.44% of Bizum, are Banco Santander, with 18.258%; BBVA, with 15,917%; Sabadell, with 10.318%; Kutxabank, with 3.155%; Grupo Caja Rural, with 3.119%; Unicaja, which adds 2.704%; Ibercaja, with 2,314%; Grupo Cajamar, which controls 2,309%; Abanca has 2,210%; Bankinter, 2,134%; Liberbank, with 1,351%; Laboral Kutxa adds 1,047%; Evo Banco, 0.492%; Banca March, 0.270%, and eight other entities with the rest.

The client’s profile

Keys. The evolution of the age of Bizum users has undergone a small mutation after the pandemic. Now 16% of its users are between 18 to 24 years of age, 25% are customers from 25 to 25 years of age. Users aged 35 to 44 represent 24%, another 20% are between 45 and 554 years old, while 15% are over 55 years old.

Transactions. Between individuals the number of transactions rises to 490 million accumulated. The amount associated with transactions between individuals is 24,000 million. The number of purchases rises to 2.4 million.

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