Valencia, Feb 2 (EFE) the one that is going to continue giving loans in an environment of restriction of the supply of availability of risk.
The general director of Caixa Popular, Rosendo Ortí, has stated, in an open dialogue held this Thursday to discuss the entity’s results for 2022, that the year has worked well with profits of 21.4 million euros, a 22 percent more than in the previous year.
Results that after taxes amount to 18.3 million euros, with a growth of 26%, and ended last year with deposits of 2,460 million euros, which represents an increase of 11%.
19% more investment
These results are motivated by the 19% increase in investment, above average market shares due to increased customer confidence, especially companies that have opened their banking pool.
It is also based on the monetary situation, which has benefited the cooperative bank due to the growth of the Euribor, and on the increase in the opening of customer accounts.
For Ortí, opportunities will arise for the entity with the reduction of liquidity in the system and greater demands on the part of the entities, because the box does not want to restrict that business channel.
Ortí has highlighted the “against the current” strategy to build customer loyalty through face-to-face service with the longest hours on the market, morning and afternoon, and with “tailor-made suits” in segmented products such as the armored rate variable mortgage, which allows you to forget about increase in Euribor since the monthly installment is always the same (guarantees a fixed installment with a term of up to 35 years with a nominal interest rate of 3% the first year and Euribor+1.75% the rest of the months, typical of variable mortgages).
New offices in Mercavalencia, Bétera and Cullera
In offices, Caixa Popular will open this year in Mercavalencia, the wholesale fruit and vegetable market, as well as in Bétera and Cullera, and will reform four other branches, two of them changing locations (Catarroja, which will unify the current two, and Valencia Orriols) within its strategy of approaching the center of cities, where the clients with more resources are.
According to the savings bank’s plan for the period 2023-2025, the goal is to open a minimum of six branches and obtain profits of 85 million, 24 in the current year. Currently, Caixa Popular has 75 branches (2022 data) and 403 workers, which will increase by a dozen people with the three new offices planned.
90% are work partners and therefore owners of the cooperative, a model that, according to Ortí, improves motivation and productivity, and this year they will see an increase in the salary base of 3.75% to compensate for the rise in inflation.
In the capital of the box, which has the Cheste Agrarian Society as financial agent, 15% corresponds to companies -15 million-, which can start their contribution with a minimum of 50,000 euros and up to a maximum of 250,000 euros.
Ortí has affirmed that the entity has begun to pay remuneration to the deposit with up to 1.75% in the case of some clients and they are “the entity that is beginning to pay the most.”
real estate operations
In real estate operations, the position is prudence with reduced promotions -the last of five single-family homes, and now under study the promotion of 16 homes-, in towns where the box is present and in which the client subrogates the loan.
He has also referred to the service for the elderly and has defended that they should be cared for “as if they were your parents, with love, patience and an attitude of listening” and keep their savings books because, despite being an expensive product, they “It serves them and they understand each other better.”
Regarding possible corporate operations, he has stated that they do not want to lose their essence and the only way is, he said, “to be what we are” and that there is no external group that could have a dominant position in the box.
Caixa Popular is going to create a section within its area of social responsibility to work with the Fallas collectives, communities of owners, housewives and music bands.
The dialogue with the media was presented by the president of the Fundación de Estudios Bursátiles y Financieros, Isabel Giménez.