Caja de Ahorros del Mediterráneo (CAM; Mediterranean Savings Bank) was a Spanish savings bank in Alicante, Valencia. The savings bank failed with the burst of the property bubble on Spain's Mediterranean coast. In the first nine months of 2011 it had lost €1.7 billion and the bad loans ratio had reached 20.8 per cent. In December 2011, it was sold to Banco Sabadell for one euro. CAM was the result of integration at different stages of 29 financial institutions, the oldest of which traces its origins to 1875. As of December 31, 2007, CAM was the fourth largest Spanish savings bank in terms of customer loans and deposits, and the 3rd largest in the market share and the number of offices. More information...
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