La Caixa is looking abroad because room for expansion in its domestic market is limited.
ECONOMIST: A Catalan savings bank launches Spain's biggest IPO
Socrates also noted that Lisbon would not sell shares in state-owned savings bank Caixa Geral de Depositos.
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Until they get off that list, MRV will not be able to receive Caixa funding for its projects.
The bank, Caixa Economico Federal, suspended all new lending to MRV on Wednesday.
But you also have banks like the National Bank of Greece, Allied Irish Bank, La Caixa Barcelona and Societe Generale.
Last year, after gobbling up billions of euros in soured loans, Caixa Catalunya and three other Spanish lenders were bailed out by the Spanish state.
La Caixa's lead will be closely watched by other Spanish savings banks, which are unlisted and run by a combination of depositors, employees and local government.
ECONOMIST: A Catalan savings bank launches Spain's biggest IPO
Another incentive can be found on La Caixa's Servihabitat website -- a free iPad for anyone who recommends a friend who successfully purchases a home from them.
"From a financial point of view, it makes sense for banks to buy back their bonds, " said Andre Rodrigues, an analyst at Portugal's Caixa Banco de Investimento.
For instance, Spain's La Caixa savings bank may use Broadcaster to reach all 4, 000 branches with alarms about nonperforming loans or with prospect lists for some new marketing push.
The flotation of its investment vehicle confers the legitimacy of market scrutiny on La Caixa as it ventures abroad while allowing it to retain its special status at home.
ECONOMIST: A Catalan savings bank launches Spain's biggest IPO
But this is easily overcome: often (as with the Caixa's operation of the national student-loans scheme) the banks are simply acting as distributors of government funds in return for a fee.
Brazil hopes its plan, announced on Wednesday, to allow government-controlled Banco do Brasil and Caixa Economica Federal to purchase shares in private financial institutions will eventually succeed in shoring up the market.
There was top-line contraction, particularly due to spread-sensitive revenues as the bank is forced to compete with the behemoth state banks of Banco do Brasil and Caixa, all lowering their spreads on interest rates.
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The La Caixa brand will stay in Spain.
ECONOMIST: A Catalan savings bank launches Spain's biggest IPO
Last year, the government abruptly changed its lending rules for auto loans and private banks had to comply or lose business to the big state banks, mainly Banco do Brasil and Caixa Economica Federal.
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