Spanish bank uses Moto GP sponsorship to help build financial strength

THE TRAVAILS OF Spain’s banks have been well publicised but one, Catalunya Caixa is tapping directly into the appeal of its star MotoGP rider to return its balance sheet to a more acceptable level of solvency. As co-title sponsors and of the Repsol Catalunya Caixa team the savings bank has access to Marc Marquez reigning MotoGP champion at 125cc class. The bank has offered a higher level of interest for each Marquez triumph of the 2011 season. The seventeen year old chalked up 10 race wins in 2010 and if this form was replicated again, savers could earn up for 4.53% interest. Analysts and shareholders are less than impressed however, citing suicidal business models in a deposit war effectively wiping out profits. - 21/4/2011