Caja de Madrid

   Along with La Caixa, Caja de Madrid represents the epitome of the Spanish savings banks. Founded in 1838 by the corregidor (civil governor) of Madrid, the Caja de Ahorros y Monte de Piedad de Madrid has grown from its modest beginnings in which working class people deposited their scarce savings to one of Spain's major and most profitable financial institutions, the second largest of the Cajas de Ahorros with branches all over Spain and with close on 4m2 pesetas of clients" deposits in 1995 and pre-tax profits of 48,000m pesetas. Of particular importance is the beneficent role of the Caja, both through direct participation in subsidized housing, schools and retirement homes, and through its cultural foundation Fundación Caja de Madrid, which provides funds for such diverse activities as architectural conservation and restoration, public concerts, lectures and exhibitions, cultural and scientific research and publication, and scholarships and study programmes across a broad spectrum.

   C. A. LONGHURST