The tower was originally intended for the Spanish company Repsol, and the principal architect was Norman Foster.
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In 1838, by royal decree, the Caja de Ahorros de Madrid was founded as a savings bank on the British model following the ideas of Jeremy Bentham.
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In May 2013, Bankia, formerly Caja Madrid, announced that it had signed an agreement to sell City National Bank to Banco de Credito e Inversiones (BCI), based in Chile.