Eurocaja Rural strengthened its solvency and solidity in 2023. efficiency and management, Thanks to its product and service diversity, it increased its business volume and increased the number of customers and commercial network. financial institution increased numbers across all marginsopened new offices, increased credit investment, reduced defaults and combated financial exclusion. create employmentAs a result of the ambitious Expansion Plan. Víctor Manuel Martín López, managing director of Eurocaja, addresses the factors in Caja’s growth «with the greatest commercial drive and geographical diversity, the ability to attract business in new regions and loyalty to those already established. This allowed us grow across all lines and customer segmentsThis gives us more security now and more power in the future.
Solid performance of Eurocaja Rural, effective execution of your business model. This asset was able to occupy a place in the market that other financial institutions abandoned or ignored, become a reference in the industry. Eurocaja Rural thus stands out as an example of success in the fight against financial exclusion. 58% of the network is located in cities with a population of less than 5,000 In districts with low demographic density, it continues to be the only financial reference (there were 97 municipalities at the end of 2022).
Same way, Offices opened in important capitals such as Leon and PalenciaProvinces where financial exclusion also affects neighborhoods in major cities. In addition to combating the digital divide, it provided financial support to rural areas; It helped to create population, employment and wealth by contributing to their development with savings, investment and financing solutions.
Regarding the business model, Martín López confirms that it is an organization that “brings all companies together.” tradition Face-to-face and close financial service opportunities with new technologies technologiesinnovation in electronic banking and products and services, as seen last year comprehensive transformation Use of our computer system to streamline our daily operations and optimize the experience across all customer channels: electronic, mobile and ATM banking». Moreover, the chief executive emphasizes that his strategy is based on “an extremely cautious provisioning policy, a limited profit, a significant robustness that allows us to respond solvency to the demands of the BdE regulator and to adapt efficiently to any risk scenario.” Thanks to one of the lowest defaults in the Spanish financial system.
Expansion plan in the Valencian Community
The organization’s expansion plan began in 2011, with a goal set against a hostile environment and the trend of the industry: economic crisis, office closures, concentration of financial institutions, layoffs. Despite this situation, the commercial network more than doubled the number of offices it had been open since the beginning of that period (449 compared to 193 in 2011).
Its growth has been continuous since its implementation in the Valencian Community at the end of 2017. The financial institution currently has a Business network of 53 offices in the Valencian Community: 31 in the province of Alicante, 20 in Valencia and 2 in Castellón. It continues to expand its traditional banking business model from these regions by offering proximity, professionalism and social commitment to its partners and customers.
Support for the productive fabric of the Valencian Community
The business is characterized, among many other aspects, by the implementation of a financial service. professional, humane and friendly treatmentand for its significant economic and social commitments in its field of activity. In the same way, implementation is started. Signing sectoral agreements with federations, associations and professional organizationsand with public institutions themselves. An example of this is Eurocaja Rural’s alliance with the Alicante Province Family Business Association (AEFA) to contribute to the strengthening of family businesses in the province and in turn support the training of family entrepreneurs.promote growth, continuity and development of these business models. Víctor Manuel Martín López, managing director of Eurocaja Rural, emphasizes the importance of supporting Alicante’s productive fabric and says “in this case strengthening family business In the community of Alicante, promote the projects they promote and invest in the creation of wealth and employment in the region. in Eurocaja Rural our firm determination and clear profession of service For the development of the state.
Financial products and services
Regarding financial products and services, the chief executive emphasizes: personalized advice they offer to their customers. In his speech at the event «INMO Professional 2023» Martín López presented details on mortgage financing, touching on the features provided by Eurocaja Rural: “Each case is examined individually. Look for the best possible conditions». In addition, it also had an impact on the agility of processing, “a feasibility response was achieved” Mortgages between 48 and 72 hours After providing the necessary documents. Regarding the types of mortgages in the product catalogue, he stated that customers can choose between fixed, variable, mixed or self-promoted mortgages.
Regarding the number of mortgage transactions carried out, he emphasized that the organization has formalized more than 10,000 transactions in the state of Valencia by the end of 2022. Such operations increased by 55.88% This situation, which documents the development and increase in market share from 2020 to the end of the 2022 financial year, means that 3 mortgages are subscribed per day in the offices established in the province of Valencia.
14,252 jobs in 2022
Activity of Eurocaja Rural significant impact on the country’s economy. This is confirmed by the study “Economic impact of Eurocaja Rural in 2022” conducted by the Valencian Institute for Economic Research (Ivie). This study highlights that Eurocaja Rural’s contribution is manifested in different ways, including: direct, indirect and induced effectsas well as derivatives of financing provided by the organization. These effects increase income, job creation, increased tax collection and reduced financial exclusion.
In the report, the activity of Eurocaja Rural Creation and maintenance of 14,252 full-time jobs. Of this volume, 1,150 correspond to direct jobs created by the activity and 660 to indirect and induced jobs. The remaining 12,442 jobs are Financing for companies and families in 2022. The research states that 19.8 jobs were created for every million euros provided by the organization.