Shareholders ratify the takeover of Cajasur by Kutxabank

BarcelonaKutxabank's shareholders' meeting has ratified the takeover of Cajasur, decided upon last April. It also approved the incorporation of María José Armendáriz and Elena Nabal as independent members of the financial group's board of directors.

This increases the number of independent directors to 50%—eight out of a total of 16%—and the representation of women on its governing body to 37.5%. These measures are aligned with the good governance recommendations of institutions such as the European Central Bank (ECB) and the National Securities Market Commission (CNMV). They also respond to the group's gender diversity policy and help advance its objectives, according to Kutxabank.

The bank expected to have a 33% female representation on the board by June 2026 and at least 40% by mid-2029. Following these new additions, Kutxabank's board of directors is now made up of two executives (the chairman and the CEO), eight independents, and six women. The two new directors replace current directors Josu de Ortuondo and José Miguel Martín.

The full integration of Cajasur—which is expected to be operationally and technologically completed in the first four months of 2026—is part of a new phase of growth and diversification for the Kutxabank Group. According to Kutxabank, the transaction "will consolidate a stronger financial group to continue investing in customers, people, and technology, and contribute to the social and economic development of the environments in which it operates."