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Caja de Ahorros del Mediterráneo (CAM; Mediterranean Savings Bank) was a Spanish savings bank in Alicante, Valencia. The savings bank failed with the burst of the property bubble on Spain's Mediterranean coast. In the first nine months of 2011 it had lost €1.7bn and the bad loans ratio has reached 20.8 per cent.〔(Sabadell takes gamble on stricken CAM ) by Miles Johnson, Financial Times, Dec 7, 2011〕 In December 2011, it was sold to Banco Sabadell for one euro.〔(Sabadell takes gamble on stricken CAM ) by Miles Johnson, Financial Times, Dec 7, 2011〕 == History == CAM was the result of integration at different stages of 29 financial institutions, the oldest of which traces its origins to 1875.〔(Corporate Social Responsibility Report, 2007 )〕 As of December 31, 2007, CAM was the fourth largest Spanish savings bank in terms of customer loans and deposits,〔(Information memorandum dated 17 April 2008 ) page 21〕 and the 3rd largest in the market share and the number of offices. Originating in the provinces of Alicante and Murcia, the bank provided services across Spain through a network of over 1,100 offices and 7,100 employees serving 3,300,000 customers.〔 CAM activities were mainly focused on retail banking for individuals and SMEs. The bank also provided such financial services as insurance and asset management. Like other Spanish savings banks, Caja Mediterráneo was a non-profit social institution.〔(Articles of Association. Caja Mediterráneo )〕 According to CAM, more than 5,100,000 people have benefited from its social commitment activities with a budget of 60.1 million euros for 2007.〔(Obras Sociales. Memoria Anual, 2007 )〕 In 2008, Caja Mediterráneo issued non-voting public shares traded on Madrid Stock Exchange. CAM was the first Spanish savings bank to issue public shares. In the initial public offering (IPO), CAM raised €292 millions, which turned out to be the largest IPO of 2008 on Madrid Stock Exchange.〔(La Caja de Ahorros del Mediterráneo se estrena en Bolsa a 5,85 euros ) Europa Press, Madrid, 23 July 2008〕〔(Caja Mediterráneo cierra ejercicio 2008 con beneficio neto de 390,4 millones de euros, 1,2% más que año anterior ) Yahoo! Finance. February 4, 2009〕〔(IPO Drought Continues ) The Wall Street Journal. October 27, 2008〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Caja de Ahorros del Mediterráneo」の詳細全文を読む スポンサード リンク
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