URGENT ¥¥¥ Spain's Caixabank says to cut around 3,000 jobs

CaixaBank, Spain's biggest bank as measured by assets under management, said on Monday it intends to shed about 3,000 jobs as part of a restructuring of the sector.

Tha Barcelona-based bank's net profit plunged 78.2 percent to 230 million euros ($312 million) in 2012 over the previous year as a result of having to make greater provisions to cover potential real-estate losses.