Eurocaja Rural strengthened its solvency and resilience in 2023 through efficiency, sound management, and a broad product and service mix. This approach boosted business volume, grew the customer base, and enlarged the commercial network. The financial institution increased activity across all margins, opened new offices, raised credit investment, reduced defaults, and fought financial exclusion. The ambitious Expansion Plan generated jobs and reinforced growth. Víctor Manuel Martín López, the managing director of Eurocaja, explains that growth came from commercial drive and geographic diversity, the ability to attract business in new regions, and loyalty to established markets. This strategy enabled expansion across all lines and customer segments, delivering greater security today and stronger potential for the future.
Eurocaja Rural delivered a solid performance through an effective execution of its business model. The organization carved out a market niche where others retreated or paused, becoming a reference point within the sector. Eurocaja Rural stands out as a leading example in the fight against financial exclusion. 58% of its network operates in cities with populations under 5,000, and in districts with low demographic density it remains the sole financial reference, with 97 municipalities served by the end of 2022. These numbers reflect a commitment to accessibility and inclusion across diverse communities.
Offices were opened in important capitals such as Leon and Palencia, provinces where financial exclusion also affects neighborhoods in major cities. In addition to addressing the digital divide, Eurocaja Rural provided financial support to rural areas, contributing to population growth, employment, and wealth creation through savings, investment, and financing solutions.
Regarding the business model, Martín López notes that Eurocaja Rural is an organization that unites all companies through a traditional, face-to-face and close financial service ethos, enhanced by new technologies and innovations in electronic banking. The year featured a comprehensive transformation that included modernizing the computer system to streamline daily operations and optimize the customer experience across electronic, mobile, and ATM channels. The chief executive also emphasizes a cautious provisioning policy, modest profits, and a robust approach that satisfies BdE regulatory requirements while adapting efficiently to risk scenarios. This framework has contributed to one of the lowest default rates in the Spanish financial system.
Expansion plan in the Valencian Community
The expansion plan began in 2011 in a challenging environment marked by an economic crisis, office closures, industry consolidation, and layoffs. Yet the commercial network more than doubled its offices, increasing from 193 in 2011 to 449 before the end of the period.
Growth has continued since the Valencia expansion began in 2017. The financial institution now operates a business network of 53 offices in the Valencian Community: 31 in Alicante, 20 in Valencia, and 2 in Castellón. From these bases, it continues to extend its traditional banking model, offering proximity, professionalism, and social commitment to partners and customers.
An alliance with the Alicante Province Family Business Association (AEFA) was signed to strengthen family enterprises in the province and support the training of family entrepreneurs. This partnership aligns with Eurocaja Rural’s mission to promote growth, continuity, and development of family business models. Víctor Manuel Martín López highlights the importance of supporting Alicante’s productive fabric and explains that strengthening family businesses helps fund projects, create wealth, and boost employment in the region. Eurocaja Rural remains deeply committed to public service and regional development.
Financial products and services
On the product and service front, the chief executive stresses personalized advice for customers. At the INMO Professional 2023 event, Martín López outlined mortgage financing details, noting that each case is examined individually to secure the best possible conditions. He also highlighted quicker processing, with a feasibility response achieved for mortgages within a 48 to 72 hour window after documents are provided. The mortgage catalog includes fixed, variable, mixed, and self-promoted options.
He noted that more than 10,000 mortgage transactions had been formalized in Valencia by the end of 2022, reflecting a 55.88% increase and signaling stronger market share from 2020 through 2022. On average, three mortgages were subscribed each day at Valencia offices.
14,252 jobs in 2022
A study titled Economic Impact of Eurocaja Rural in 2022, conducted by the Valencian Institute for Economic Research, confirms the organization’s significant role in the national economy. The study identifies direct, indirect, and induced effects, along with financing derivatives, as drivers of higher income, job creation, higher tax collection, and reduced financial exclusion. The report shows that Eurocaja Rural supported 14,252 full-time jobs in 2022, including direct, indirect, and induced roles, with most employment linked to financing for companies and families. The research notes that 19.8 jobs were created for every one million euros provided by the group, underscoring its broad economic influence.