On 30 July 2010, Caja Madrid signed an agreement to merge with six other savings banks to form Bankia on 3 December 2010.

Caja Madrid was the fourth largest financial group in Spain, with a turn-over of 180,700 million euros in 2005.

It had 12,800 employees in a national network of 1,900 offices, and four foreign branches in Miami, Lisbon, Dublin and Vienna.

In 2005 the amount spent by the two bodies on behalf of Caja Madrid reached 161 million euros.

The tower had been intended for the Spanish company Repsol, and the principal architect was Norman Foster.