Older, less income
The Ministry of Economy reports progress on a new package aimed at combating financial exclusion in evacuated Spain, with confirmation from several sources including El Periódico de Catalunya, part of the Prensa Ibérica group. The central goal is to ensure basic banking access, especially cash withdrawal, for the 1.4% of people living in rural municipalities that lack a bank branch or any other physical means to reach the financial system, such as ATMs or mobile banking in underserved areas.
While the share of the population without access remains relatively small, the impact is significant, affecting roughly 665,000 Spaniards who suffer the highest levels of financial exclusion according to end-2021 data from the National Institute of Statistics. In cities, 3.3% of residents, about 1.56 million people, live in areas without a bank branch, though other mechanisms exist to provide essential financial services.
Both figures are cited as statements from banking associations AEB and CECA, who are expected to publish details in the coming days, likely toward month end. Joaquin Maudos, economist at the University of Valencia and associate director of research at Ivie, previewed this framework to associations and the Ministry of Economy weeks earlier, suggesting it would form the basis for the forthcoming plan by both sides.
Older, less income
Officials in Nadia Calviño’s department indicate the study will focus on municipalities with 1.4% of the population and those least served by banks, typically areas with aging populations and slightly lower incomes. Although no firm date exists for readiness, the ministry wants this plan moving ahead with maximum speed.
The initiative sits within a broader strategy to strengthen Spain’s economy after a period of financial exclusion intensified by a restructuring of the banking sector since the 2008 crisis. At the request of the vice president, the AEB and CECA signed a protocol in July last year to strengthen social connectivity, including measures on workforce, wages, environmental sustainability, digitalization, inclusion, and financial education. A Financial Inclusion Observatory is being set up to map access to rural financial services, with an initial report expected soon.
Calviño publicly urged the industry to adopt new measures to improve services for older citizens. After a year of negotiations, a package of initiatives emerged, building on last year’s protocol and now seeking to adapt to rural Spain with standards supported by cooperative employers and the Bank of Spain.
Public cooperation
The supervisory bodies will review three key reports: a comparison of cash access in Spain relative to other eurozone countries; an assessment of digital banking availability and its evolution; and an analysis of national and international actions against financial exclusion. These studies will underpin the plan negotiated between the ministry and employers.
The economy anticipates new commitments from the banking sector, which has signaled willingness to act voluntarily, while acknowledging shared costs. Solutions are sought that combine private initiative with public administration to guarantee essential public service. Jose Luis Martínez Campuzano, spokesperson for the AEB, discussed these points at an IBM-hosted event, underscoring the balance between private responsibility and public protection.
growth problem
Financial exclusion in depopulated Spain is not a new issue, but it has worsened over the past decade. Bank of Spain data show that the number of municipalities without bank offices reached 836, a 23% increase since the 2008 housing market crash, rising from 3,569 to 4,405 by the end of 2020. Populations affected account for 54% of the total. Meanwhile, the number of villages without any cash access (cashier or branch) stood at 4,115 at the end of 2020, affecting about 1.18 million people, roughly 2.5% of the population.
Provinces most affected include Burgos with 313 municipalities lacking branches, Salamanca with 307, Guadalajara with 247, Avila with 215, and Zamora with 203. Other regions range between 180 and 150 affected municipalities, including Valladolid, Segovia, Palencia, Cuenca, Zaragoza, and Soria. In contrast, Córdoba, Seville, Lugo, Murcia, the Balearic Islands, Cádiz, Pontevedra, Santa Cruz de Tenerife, Las Palmas, and Jaén have fewer than 10 municipalities without offices.
Financial Client Ombudsman, in the fall
The Ministry of Economy plans to bring the project to create the Financial Client Defense Authority to the Council of Ministers in early fall to begin parliamentary proceedings. Final decisions will depend on the timing of reports from other ministries and the State Council. The government envisions the new institution handling customer complaints against banks, insurers, and investment firms, potentially extending beyond the current legislature date.
The preliminary draft, submitted in early April, drew criticism as unconstitutional from the AEB and CECA as it advanced. The department emphasizes that the objective remains to strengthen protections and enable the courts to act promptly and effectively, with room for adjustments during the public debate. The Ministry, led by Calviño, aims for the authority to address complaints submitted to the Bank of Spain, the CNMV, and the General Directorate of Insurance and Pension Funds. Its decisions could be binding for assets up to 20,000 euros.
This marks a substantial shift, as the opinions of these three auditors have not previously been mandatory, allowing many cases to slip through. The economy also proposes that the industry bear some costs, proposing a 250 euro fee per request, with customers retaining freedom of action.