The bank has been examined to end financial exclusion in mid-sized towns with populations over 500, and a roadmap is already delivering early results. Last year, ATMs or offices were opened in five towns in Alicante Province, serving a total population of 3,645. In contrast, 1,711 residents across the remaining three municipalities without face-to-face banking are still waiting for access.
During the previous summer, the three national banking associations AEB, CECA and Unacc presented a report to the Presidency, coordinated by Joaquín Maudos, professor of Economic Analysis at the University of Valencia, and the Valencian Institute for Economic Research (IVIE). The study aimed to map banking service accessibility in Spain with highly granular municipal data, identifying communities lacking in-person services. The report noted that by the end of 2021, about 211,550 people in 243 municipalities faced this issue and proposed a set of solutions through agreements to place offices, ATMs, financial agents or Post Offices.
To monitor progress, Maudos was tasked again with publishing quarterly updates on financial inclusion. Over the year, the number of municipalities with populations over 500 without local banking access declined from 243 to 164, and the excluded population fell from 211,550 to 141,992.
Regionally, Castilla y León saw the largest absolute decrease, followed by the Community of Valencia and Catalonia. In terms of provinces, Cantabria, Guadalajara and Valencia recorded notable declines in affected residents.
Alicante Province ranks eighth in reductions, with 3,645 people across five municipalities no longer facing banking exclusion. The towns most affected were Vall de Gallinera, Vall de Laguar, Ràfol d’Almúnia, Sanet i Negrals and Lliber.
Nevertheless, work remains to be done, as three Alicante towns—Gaianes, Murla and Daya Vieja—still have more than 500 residents experiencing financial exclusion, totaling 1,711 people.
This is what the map of new rural ATMs in Alicante looks like: 12,000 people leaving “financial marginalization”
Banking employers also plan to extend access to smaller towns still lacking financial services. Across Spain, this reaches populations totaling 445,950 in 2,987 municipalities. Other measures such as cash withdrawals in stores or post delivery in rural areas are included for municipalities with more than 500 residents. The final report stops short of reporting the results achieved so far for these initiatives.
100% of the territory
Reducing financial exclusion is a joint commitment by the banking sector and the Ministry of Economy and Digital Transformation, with a roadmap that has been signed and is moving forward. The overarching goal is to ensure physical access to banking services in every municipality, including rural areas that have never hosted a bank branch before.
Municipal plan for 22 small town centers
In line with banking sector actions, the Generalitat promoted a plan to install ATMs in 124 community centers, including 22 in Alicante Province. The program was enabled by a largely completed agreement with CaixaBank.