The members of Caja Rural Center approved the financial year results in a unanimous vote this Friday. In 2022, asset accounts closed with a profit of 17 million euros, up 42 percent from the prior year, marking one of the strongest solvency ratios in the sector.
Manuel Ruiz, President of the Oriolan Foundation, highlighted that inflation and monetary policy dominated the 2022 fiscal year. He projected 2023 would bring uncertainty due to the ongoing war in Ukraine, high inflation, the allocation of European funds, and central bank interest rate decisions. Yet he noted that the sector overall remained solid, with healthy liquidity and stable rates that should enable a comfortable position for 2023.
José Victor Guillen, the general manager of the credit cooperative, pointed out that the year closed with a solvency ratio of 17.07, well above the regulatory minimum and among the highest in the financial sector.
He also recalled that the total assets managed by the institution reached 3.057 billion euros, a relative increase of 5.64 percent compared with the previous year, or 163.2 million more. He stressed the organization’s efficiency, noting that a 47 percent efficiency rate was achieved by the end of 2022, placing Caja Rural among the best in the industry. He also emphasized the organization’s high liquidity ratios that exceed regulatory minimums by a wide margin.
A view from the Caja Rural Center members’ assembly. Information
Regarding Caja Rural Group, it operates 30 branches across the region with several invested companies. During the assembly, Manuel Ruiz underscored the participation of the 312 individuals who constitute the workforce.
Outlook for 2023
For the current year, the CEO stated that the business plans for 2023 are to continue expansion and broaden its branch network. This approach aligns with the organization’s commitment to the Alicante province and the Region of Murcia, aiming to boost economic, social, and cultural development across its service areas. In particular, Caja Rural Central intends to open three additional branches, adding to the 77 it currently operates.
Caja Rural Central opens a new office in Elda
The initiative will also prioritize improving efficiency, solvency, and productivity, while adapting to evolving financial metrics, increasing customer and staff satisfaction, and strengthening and consolidating the group’s capabilities.
[Citation: Caja Rural Central annual results and strategic plan, as reported by the organization’s assembly records.]