Caja de Ahorros de Navarra or Caja Navarra or CAN was a medium-sized savings bank based in the Navarre province of northern Spain with headquarters in Pamplona. The financial institution broke up in 2012 among allegations of irregularities and failure by the relevant control organ of the Government of Navarre to audit the savings bank for several years.[1] On a yearly basis, UPN's regional Government was handed over a copy-paste, two-page long activity report by Caja Navarra, as revealed in 2014.[2]
History
The bank resulted from the merger of the Caja de Ahorros y Monte de Piedad Municipal de Pamplona (founded by the Pamplona city council in 1872) and the Caja de Ahorros de Navarra (founded by the Provincial Government of Navarre in 1921) on January 17, 2000. In August 1924, the Federation of Basque-Navarrese Savings Banks was established with a view to mutually assisting and progressing together in the face of growing competition from the rising Basque banks. The Savings Banks of Pamplona joined almost immediately in 1925.
On accession of Miguel Sanz to regional office in Navarre (1996), the merger of both traditional savings banks took place to form Caja Navarra. In short time it became one of the three banks that merged to become Banca Civica.[3]