<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[Vueling and CaixaBank present its new loyalty card]]> https://blog.caixabank.es/?p=23645 2021-09-16T00:00:00.0Z 2021-09-16T00:00:00.0Z <![CDATA[Vueling and CaixaBank present its new loyalty card]]> Vueling, a company part of IAG, and CaixaBank, through its subsidiary CaixaBank Payments & Consumer, have today presented the new Vueling Visa card. This new loyalty card allows the airline's users to accumulate Avios with each purchase made and provides direct benefits in future trips, such as priority boarding, exclusive check-in desks, fast track or further flexibility when changing a flight.

The new card's main goal is to build customer loyalty through frequent purchases. This all adds to the Vueling Club's benefits and discounts, which boasts over 4 million members. The Vueling Visa, marketed by CaixaBank and Vueling, offers a service for  paying in instalments and financing purchases, which are typical of credit cards. This way, customers can split or defer payments of their purchases while also keeping track of their spending. This card is integrated into the financial institution's various technology solutions and channels like CaixaBankNow, xPays and others.

Visa, on its part, makes available the VisaNet network to CaixaBank and Vueling, guaranteeing customers using this new loyalty card fast and secure payments anytime, anywhere.

Cards suited to everyone's particular needs

The new card has two levels: Vueling Visa (classic) and Vueling UP! Visa (premium). Both cards are free the first year. As of the second year, the card's basic level has a cost of 45 euros a year.

In exchange, customers will receive up to 4,500 Avios as a welcoming gift, 1 Avios per 2 euros spent with the card and 4 Avios for every euro spent in Vueling, depending on the type of fare chosen. In addition, users will enjoy benefits such as priority boarding, making changes to the booking on the same day of travel and an exclusive call centre.

In the Premium level, with an annual cost of 90 euros as of the second year, customers will receive up to 9,000 Avios as a welcoming gift, 1 Avios per 2 euros spent with the card and 8 Avios for every euro spent in Vueling, depending on the type of fare chosen. Besides the benefits provided in the basic level, this card adds priority boarding and fast track.

A pioneering bank in the manufacture of cards with sustainable materials

This new loyalty card, which is launched together with Vueling and can be taken out digitally, is added to the list of cards issued by CaixaBank that, as of this year, are made exclusively from recycled and biodegradable materials. As a result, CaixaBank culminates a process launched in 2019, when it introduced cards made from sustainable materials for the first time in Spain.

In 2019, CaixaBank started to market its entire range of gift cards (some 150,000 units a year) made from a biodegradable material (polylactic acid, derived from cornstarch). In August 2020, CaixaBank launched its recycled Visa & Pay card, the first card marketed in Spain made from 100% recycled materials (in this case, R-PVC). There are currently 125,000 recycled Visa & Pay cards in circulation.

CaixaBank's decision to issue its entire range of cards using more sustainable materials will help to reduce its carbon footprint. According to technical data, 45% less water is consumed, and 15% less CO2 is emitted to manufacture an R-PVC card than a plastic card.

About Vueling 

The company maintains its priority of guaranteeing maximum protection and the health of both its passengers and employees. As a result, it has implemented strict disinfection and cleaning protocols in its aircraft and the airports it operates, following all the health and safety measures recommended by the European Union Aviation Safety Agency (EASA), such as the mandatory use of surgical masks throughout the flight. Vueling planes are equipped with HEPA filters that refresh the air every three minutes. In addition, Vueling still maintains a policy of flexibility that simplifies its customers' decision-making process, and it advises all customers to use its website online tool and mobile application, where up-to-date information is provided on the documents required to travel to each destination.

About CaixaBank Payments & Consumer

CaixaBank Payments & Consumer, 100% subsidiary of CaixaBank, is the leading company in consumer financing and payment methods in Spain.

The company, chaired by Juan Antonio Alcaraz, General Director of CaixaBank, and with Juan Gandarias as CEO, manages an outstanding credit of over €8,500 million and is the leading bank in card payments, with 31.2 million units on the market and a market share in turnover of 33.6% in purchases and 37.5% through retail establishment POS terminals.

The company's mission focuses on developing solutions to offer the best payment experience and facilitate the funding of our customers' projects and dreams, in a simple, agile and responsible way, through its own channels and agreements with major commercial distributors.

CaixaBank Payments & Consumer, with an international vocation and more than 22.5 million customers in Spain and Portugal, also works to accelerate the digital transformation and technological capacities of the company.

About Visa Inc.

Visa Inc. (NYSE:V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our global processing network, VisaNet, provides secure and reliable payments around the world, and it is capable of handling more than 65,000 transaction messages a second.

The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analogue to digital, Visa is applying its brand, products, people, network and scale to reshape the future of commerce. For more information, visit www.visa.es, @Visa_ES and the Visa blog.

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Vueling, a company part of IAG, and CaixaBank, through its subsidiary CaixaBank Payments & Consumer, have today presented the new Vueling Visa card. This new loyalty card allows the airline's users to accumulate Avios with each purchase made and provides direct benefits in future trips, such as priority boarding, exclusive check-in desks, fast track or further flexibility when changing a flight.

The new card's main goal is to build customer loyalty through frequent purchases. This all adds to the Vueling Club's benefits and discounts, which boasts over 4 million members. The Vueling Visa, marketed by CaixaBank and Vueling, offers a service for  paying in instalments and financing purchases, which are typical of credit cards. This way, customers can split or defer payments of their purchases while also keeping track of their spending. This card is integrated into the financial institution's various technology solutions and channels like CaixaBankNow, xPays and others.

Visa, on its part, makes available the VisaNet network to CaixaBank and Vueling, guaranteeing customers using this new loyalty card fast and secure payments anytime, anywhere.

Cards suited to everyone's particular needs

The new card has two levels: Vueling Visa (classic) and Vueling UP! Visa (premium). Both cards are free the first year. As of the second year, the card's basic level has a cost of 45 euros a year.

In exchange, customers will receive up to 4,500 Avios as a welcoming gift, 1 Avios per 2 euros spent with the card and 4 Avios for every euro spent in Vueling, depending on the type of fare chosen. In addition, users will enjoy benefits such as priority boarding, making changes to the booking on the same day of travel and an exclusive call centre.

In the Premium level, with an annual cost of 90 euros as of the second year, customers will receive up to 9,000 Avios as a welcoming gift, 1 Avios per 2 euros spent with the card and 8 Avios for every euro spent in Vueling, depending on the type of fare chosen. Besides the benefits provided in the basic level, this card adds priority boarding and fast track.

A pioneering bank in the manufacture of cards with sustainable materials

This new loyalty card, which is launched together with Vueling and can be taken out digitally, is added to the list of cards issued by CaixaBank that, as of this year, are made exclusively from recycled and biodegradable materials. As a result, CaixaBank culminates a process launched in 2019, when it introduced cards made from sustainable materials for the first time in Spain.

In 2019, CaixaBank started to market its entire range of gift cards (some 150,000 units a year) made from a biodegradable material (polylactic acid, derived from cornstarch). In August 2020, CaixaBank launched its recycled Visa & Pay card, the first card marketed in Spain made from 100% recycled materials (in this case, R-PVC). There are currently 125,000 recycled Visa & Pay cards in circulation.

CaixaBank's decision to issue its entire range of cards using more sustainable materials will help to reduce its carbon footprint. According to technical data, 45% less water is consumed, and 15% less CO2 is emitted to manufacture an R-PVC card than a plastic card.

About Vueling 

The company maintains its priority of guaranteeing maximum protection and the health of both its passengers and employees. As a result, it has implemented strict disinfection and cleaning protocols in its aircraft and the airports it operates, following all the health and safety measures recommended by the European Union Aviation Safety Agency (EASA), such as the mandatory use of surgical masks throughout the flight. Vueling planes are equipped with HEPA filters that refresh the air every three minutes. In addition, Vueling still maintains a policy of flexibility that simplifies its customers' decision-making process, and it advises all customers to use its website online tool and mobile application, where up-to-date information is provided on the documents required to travel to each destination.

About CaixaBank Payments & Consumer

CaixaBank Payments & Consumer, 100% subsidiary of CaixaBank, is the leading company in consumer financing and payment methods in Spain.

The company, chaired by Juan Antonio Alcaraz, General Director of CaixaBank, and with Juan Gandarias as CEO, manages an outstanding credit of over €8,500 million and is the leading bank in card payments, with 31.2 million units on the market and a market share in turnover of 33.6% in purchases and 37.5% through retail establishment POS terminals.

The company's mission focuses on developing solutions to offer the best payment experience and facilitate the funding of our customers' projects and dreams, in a simple, agile and responsible way, through its own channels and agreements with major commercial distributors.

CaixaBank Payments & Consumer, with an international vocation and more than 22.5 million customers in Spain and Portugal, also works to accelerate the digital transformation and technological capacities of the company.

About Visa Inc.

Visa Inc. (NYSE:V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our global processing network, VisaNet, provides secure and reliable payments around the world, and it is capable of handling more than 65,000 transaction messages a second.

The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analogue to digital, Visa is applying its brand, products, people, network and scale to reshape the future of commerce. For more information, visit www.visa.es, @Visa_ES and the Visa blog.

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<![CDATA[Personalidad y liderazgo: análisis DISC en la gestión de equipos]]> https://blog.caixabank.es/?p=23645 2021-09-14T14:18:52.0Z 2021-09-14T14:18:52.0Z <![CDATA[Personalidad y liderazgo: análisis DISC en la gestión de equipos]]> 0 <![CDATA[CaixaBank awarded ‘World's Best Bank Transformation’ by Euromoney]]> https://blog.caixabank.es/?p=23645 2021-09-10T00:00:00.0Z 2021-09-10T00:00:00.0Z <![CDATA[CaixaBank awarded ‘World's Best Bank Transformation’ by Euromoney]]>
CaixaBank has received ‘World's Best Bank Transformation 2021’ at the Euromoney Global Awards for Excellence 2021. After successfully completing the merger with Bankia, CaixaBank has become the prominent leader of the Spanish market and has laid the foundations for sustainable returns in the future thanks to its business model, commitment to innovation and customer service while also keeping its social commitment.

At these awards, which rank banks around the world, the British publication Euromoney acknowledged CaixaBank for its capacity to adapt to a constantly evolving market in a year in which it has completed its merger with Bankia. This is one of the main consolidation operations carried out at an international level, and it enable the bank to face the challenges posed by the sector with a new competitiveness.

José Ignacio Goirigolzarri, CaixaBank's Chairman, points out: “This recognition highlights a merger that represents a milestone in the history of the Spanish financial system. The merger enables us to face the future in a privileged position with the aim of supporting the economic recovery and exceeding the financial sector's technological, structural, regulatory and competitive challenges. All this without losing sight of the long-standing commitment to society and our shareholders' remuneration.”

Furthermore, Gonzalo Gortázar, CaixaBank's CEO, believes: “The integration of CaixaBank and Bankia positions us as a clear leader, consolidates our financial strength and increases the Group's efficiency and returns by generating opportunities for new revenue and achieving significant cost savings. This is only possible thanks to the talent and professionalism of our teams of employees that have a deep vocation for offering customers the best service.” 

Digital leadership and new dividend policy

In addition to consolidating itself as the leading financial Group in Spain, with market shares of 25% in deposits and credits, 29% in long-term saving and 24% in financing for business, and continuing to be one of the most important in Portugal through BPI, CaixaBank has also extended its digital leadership with over 10 million active digital customers in Spain.

The bank has developed projects that have marked technological turning points in the sector, such as the creation of the first ATMs that allow customers to perform operations through facial recognition, and a digital transformation strategy that has made it one of the highest-rated banks in the world based on the quality of its digital products and services.

The Board of Directors approved the Dividend Policy for 2021 at the end of July. The policy envisions the distribution of a cash dividend of 50% of consolidated net profit adjusted to reflect the extraordinary impacts arising from the merger with Bankia. It will be paid in a single payout in 2022. 

International acknowledgments

In addition to the global award announced today, Euromoney acknowledged CaixaBank in July as Spain’s Best Bank 2021. This award adds to other international recognitions that the institution has obtained in recent months. Global Finance also named CaixaBank the ‘Best Bank in Spain’ for the seventh consecutive year, and ‘Best Bank in Western Europe’ for the third year in a row.

In the area of innovation, CaixaBank was named ‘Most Innovative Bank in Western Europe 2021’ at The Innovators awards, by Global Finance, and the Financial Times Group's PWM magazine named it ‘Best Private Bank in Europe in Big Data Analytics and Artificial Intelligence 2021’.

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CaixaBank has received ‘World's Best Bank Transformation 2021’ at the Euromoney Global Awards for Excellence 2021. After successfully completing the merger with Bankia, CaixaBank has become the prominent leader of the Spanish market and has laid the foundations for sustainable returns in the future thanks to its business model, commitment to innovation and customer service while also keeping its social commitment.

At these awards, which rank banks around the world, the British publication Euromoney acknowledged CaixaBank for its capacity to adapt to a constantly evolving market in a year in which it has completed its merger with Bankia. This is one of the main consolidation operations carried out at an international level, and it enable the bank to face the challenges posed by the sector with a new competitiveness.

José Ignacio Goirigolzarri, CaixaBank's Chairman, points out: “This recognition highlights a merger that represents a milestone in the history of the Spanish financial system. The merger enables us to face the future in a privileged position with the aim of supporting the economic recovery and exceeding the financial sector's technological, structural, regulatory and competitive challenges. All this without losing sight of the long-standing commitment to society and our shareholders' remuneration.”

Furthermore, Gonzalo Gortázar, CaixaBank's CEO, believes: “The integration of CaixaBank and Bankia positions us as a clear leader, consolidates our financial strength and increases the Group's efficiency and returns by generating opportunities for new revenue and achieving significant cost savings. This is only possible thanks to the talent and professionalism of our teams of employees that have a deep vocation for offering customers the best service.” 

Digital leadership and new dividend policy

In addition to consolidating itself as the leading financial Group in Spain, with market shares of 25% in deposits and credits, 29% in long-term saving and 24% in financing for business, and continuing to be one of the most important in Portugal through BPI, CaixaBank has also extended its digital leadership with over 10 million active digital customers in Spain.

The bank has developed projects that have marked technological turning points in the sector, such as the creation of the first ATMs that allow customers to perform operations through facial recognition, and a digital transformation strategy that has made it one of the highest-rated banks in the world based on the quality of its digital products and services.

The Board of Directors approved the Dividend Policy for 2021 at the end of July. The policy envisions the distribution of a cash dividend of 50% of consolidated net profit adjusted to reflect the extraordinary impacts arising from the merger with Bankia. It will be paid in a single payout in 2022. 

International acknowledgments

In addition to the global award announced today, Euromoney acknowledged CaixaBank in July as Spain’s Best Bank 2021. This award adds to other international recognitions that the institution has obtained in recent months. Global Finance also named CaixaBank the ‘Best Bank in Spain’ for the seventh consecutive year, and ‘Best Bank in Western Europe’ for the third year in a row.

In the area of innovation, CaixaBank was named ‘Most Innovative Bank in Western Europe 2021’ at The Innovators awards, by Global Finance, and the Financial Times Group's PWM magazine named it ‘Best Private Bank in Europe in Big Data Analytics and Artificial Intelligence 2021’.

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<![CDATA[imagin grows 20% in new users and consolidates its leadership among neobanks in Spain]]> https://blog.caixabank.es/?p=23645 2021-08-26T00:00:00.0Z 2021-08-26T00:00:00.0Z <![CDATA[imagin grows 20% in new users and consolidates its leadership among neobanks in Spain]]>  

imagin, the digital services and lifestyle platform driven by CaixaBank, Spain´s leading bank, has celebrated its first anniversary since its launch as a new digital community concept, adding more than 500,000 new users and reaching a total of 3.1 million “imaginers”. This represents a growth rate of 20%, new highs in a single year. In the band of users over 18 years of age, specifically, growth during this first year has reached over 30%.

This data strengthens imagin's leadership as a digital financial services player. In its first year after the new app was launched to market, the platform ranks as a leader among the top neobanks and fintech companies, with a 15.2% market share of active users and a score of 83 out of 100 for mobile performance in the neobanking sector in Spain, according to the latest Smartme Analytics study. Smartme Analytics Mobile Performance Index monitors financial application usage and values performance on the basis of variables such as number of active users, daily usage time, interaction, and exclusive use frequency.

As well as growing in new users, imagin has also increased the loyalty of those who were already “imaginers”. During the last year, upwards of 60% of imagin users open the app more than 3 times a week. A significant volume of activity was recorded in July 2021 with 23 million app accesses in a single month, marking an all-time record for use of the app. At the operational level, use of Bizum through imagin has doubled in the last year, with an average of 4.2 million transactions per month, and mobile payment has catapulted 400% compared to 2020.

According to data from imagin, the most common customer profile is that of a young person with an average of 26 years of age, residing in a large city and operating in a digital environment. At the regional level, 32% of connections to the imagin app are made from Madrid and 29% from Catalonia.

imagin’s growth comes in response to the user loyalty boosting strategy arising from the creation of digital, financial and non-financial services, which, unlike traditional banking, do not necessarily involve somebody registering as a banking customer. During the past year, a plethora of digital content and services has been launched on the platform which has attracted a great deal of interest among the “imaginer” community, based on five major subject areas: sustainability (imaginPlanet), music (imaginMusic), video games (imaginGames), trends (imaginCafé) and technology (imaginShop).

Solid commitment to sustainability

Among the “imaginer” community, sustainability is one of the fields that kindles the most interest, interaction and involvement of users. Through imaginPlanet, this year, imagin has implemented a full line of sustainability-based products, services, agreements and initiatives that create a positive impact for the planet and society as a whole. As a result, imaginPlanet has succeeded in boosting tree planting to offset upwards of 60 tons of CO2, collecting 200 kilograms of plastics and more than 40,000 imaginers have joined in saving on food waste through the partnership with “Too Good To Go”.

Initiatives in this area this year include the success of the imaginPlanet Challenge, the programme of entrepreneurship ideas to combat climate change, featuring over 700 participants, and two projects, eCoDeliver and Kidalos, which seek to boost the sustainability of the parcel carrier sector and the consumption of toys, respectively.

This commitment to sustainability, which is part of imagin's strategy and is conveyed to its entire business model, has earned the platform a B Corp certification in November last year. This guarantees the company's compliance with the highest standards of social and environmental performance, public transparency and corporate responsibility to balance economic benefit with social purpose.

A year of successful initiatives

Besides supporting environmental causes, one of the most important projects this year which has had the greatest impact on the imagin community is the recent launch of imaginChangers, the program that enables imagin users to take part in digital volunteering actions through their mobile devices and support charity projects with financial donations.

In June, imaginGames, in partnership with LVP (Mediapro Group), launched the amateur eSports circuit “imagin Arena Masters”, while the imaginMusic content area streamed several concerts this year that have been viewed by thousands of “imaginers” via the digital channels.

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imagin, the digital services and lifestyle platform driven by CaixaBank, Spain´s leading bank, has celebrated its first anniversary since its launch as a new digital community concept, adding more than 500,000 new users and reaching a total of 3.1 million “imaginers”. This represents a growth rate of 20%, new highs in a single year. In the band of users over 18 years of age, specifically, growth during this first year has reached over 30%.

This data strengthens imagin's leadership as a digital financial services player. In its first year after the new app was launched to market, the platform ranks as a leader among the top neobanks and fintech companies, with a 15.2% market share of active users and a score of 83 out of 100 for mobile performance in the neobanking sector in Spain, according to the latest Smartme Analytics study. Smartme Analytics Mobile Performance Index monitors financial application usage and values performance on the basis of variables such as number of active users, daily usage time, interaction, and exclusive use frequency.

As well as growing in new users, imagin has also increased the loyalty of those who were already “imaginers”. During the last year, upwards of 60% of imagin users open the app more than 3 times a week. A significant volume of activity was recorded in July 2021 with 23 million app accesses in a single month, marking an all-time record for use of the app. At the operational level, use of Bizum through imagin has doubled in the last year, with an average of 4.2 million transactions per month, and mobile payment has catapulted 400% compared to 2020.

According to data from imagin, the most common customer profile is that of a young person with an average of 26 years of age, residing in a large city and operating in a digital environment. At the regional level, 32% of connections to the imagin app are made from Madrid and 29% from Catalonia.

imagin’s growth comes in response to the user loyalty boosting strategy arising from the creation of digital, financial and non-financial services, which, unlike traditional banking, do not necessarily involve somebody registering as a banking customer. During the past year, a plethora of digital content and services has been launched on the platform which has attracted a great deal of interest among the “imaginer” community, based on five major subject areas: sustainability (imaginPlanet), music (imaginMusic), video games (imaginGames), trends (imaginCafé) and technology (imaginShop).

Solid commitment to sustainability

Among the “imaginer” community, sustainability is one of the fields that kindles the most interest, interaction and involvement of users. Through imaginPlanet, this year, imagin has implemented a full line of sustainability-based products, services, agreements and initiatives that create a positive impact for the planet and society as a whole. As a result, imaginPlanet has succeeded in boosting tree planting to offset upwards of 60 tons of CO2, collecting 200 kilograms of plastics and more than 40,000 imaginers have joined in saving on food waste through the partnership with “Too Good To Go”.

Initiatives in this area this year include the success of the imaginPlanet Challenge, the programme of entrepreneurship ideas to combat climate change, featuring over 700 participants, and two projects, eCoDeliver and Kidalos, which seek to boost the sustainability of the parcel carrier sector and the consumption of toys, respectively.

This commitment to sustainability, which is part of imagin's strategy and is conveyed to its entire business model, has earned the platform a B Corp certification in November last year. This guarantees the company's compliance with the highest standards of social and environmental performance, public transparency and corporate responsibility to balance economic benefit with social purpose.

A year of successful initiatives

Besides supporting environmental causes, one of the most important projects this year which has had the greatest impact on the imagin community is the recent launch of imaginChangers, the program that enables imagin users to take part in digital volunteering actions through their mobile devices and support charity projects with financial donations.

In June, imaginGames, in partnership with LVP (Mediapro Group), launched the amateur eSports circuit “imagin Arena Masters”, while the imaginMusic content area streamed several concerts this year that have been viewed by thousands of “imaginers” via the digital channels.

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<![CDATA[CaixaBank reaches its highest volume in factoring and reverse factoring and becomes market leader in Spain]]> https://blog.caixabank.es/?p=23645 2021-08-23T10:00:00.0Z 2021-08-23T10:00:00.0Z <![CDATA[CaixaBank reaches its highest volume in factoring and reverse factoring and becomes market leader in Spain]]> CaixaBank closed the first half of 2021 with more than 27 billion euros of turnover in factoring and reverse factoring (payment and collection management), 2.6% higher than the same period last year and the highest figure achieved thus far. This growth makes CaixaBank the leader in Spain for the factoring and reverse factoring sector, with a market share of 29%.

Reverse factoring is a financial and administrative service that consists of managing a company's payments to its domestic and foreign suppliers, who are offered the possibility of collecting invoices prior to the due date. More than 250,000 suppliers have benefited from the advantages of this service with advanced payments.

Suppliers can have an advance collection facility for all customer-confirmed invoices, without this funding creating exposure to supplier banking risk. CaixaBank has reached more than 15 billion euros in reverse factoring during the first half of 2021, 1.3% up on the same period last year. These figures mean the bank has become the Spanish leader with a market share of 32.4%.

Regarding factoring, CaixaBank has reached more than 12 billion euros in the first half of 2021, 4.2% up on the first quarter of 2020 and it has reached a market share of 25.7%, also placing the bank at the top of the Spanish ranking. Factoring is the set of collection, financing and insolvency coverage management services for domestic and international credit sales. Factoring boosts financing capacity and provides instant liquidity by financing the amount of sales. It also avoids the risk of insolvency non-performance and reduces defaults and delinquency.

Technological developments

CaixaBank has recently implemented a series of digitalisation developments that are proving crucial to the growth that is being achieved in this factoring and reverse factoring segment.

More than 12,000 advances are made per month via digital banking. In that regard, a new reverse factoring app has been launched that enables customers and suppliers to execute the assignment of credit agreements and advances anywhere in the world, 24 hours a day, 365 days a year, from a smartphone.

Furthermore, CaixaBank has made a new digital service (dashboard) available to its customers and suppliers that provides easy access to the key aspects of their reverse factoring contracts, such as the amount of their next payment, information on their payments in the coming weeks, discovering their suppliers' use of their reverse factoring, the status of the last remittance sent, and the most active payers and suppliers. For suppliers, the dashboard provides easy access to functions such as upcoming collection, a 16-week collection forecast and its status, total of the outstanding portfolio that can be advanced, and use over the past twelve months, among other aspects.

CaixaBank, the bank chosen by companies

CaixaBank has consolidated itself as a benchmark institution for businesses with a specialised model, with a network of 150 CaixaBank Empresas centres distributed across all the autonomous communities in Spain, with more than 1,500 highly-qualified employees and a solid reputation in business consulting.

Internationally, CaixaBank supports its business customers with various operational solutions with effective regional access to 127 markets in different countries in addition to its highly-specialised advisers — including specialists in financing and services, foreign trade and liquid assets, structured financing, tourism and real estate — who work in the branches in Spain, offering the best advice for business transactions abroad. The institution provides services to both SMEs and micro-enterprises beginning their export activities, and large corporations and business groups handling more complex international projects.

]]>
CaixaBank closed the first half of 2021 with more than 27 billion euros of turnover in factoring and reverse factoring (payment and collection management), 2.6% higher than the same period last year and the highest figure achieved thus far. This growth makes CaixaBank the leader in Spain for the factoring and reverse factoring sector, with a market share of 29%.

Reverse factoring is a financial and administrative service that consists of managing a company's payments to its domestic and foreign suppliers, who are offered the possibility of collecting invoices prior to the due date. More than 250,000 suppliers have benefited from the advantages of this service with advanced payments.

Suppliers can have an advance collection facility for all customer-confirmed invoices, without this funding creating exposure to supplier banking risk. CaixaBank has reached more than 15 billion euros in reverse factoring during the first half of 2021, 1.3% up on the same period last year. These figures mean the bank has become the Spanish leader with a market share of 32.4%.

Regarding factoring, CaixaBank has reached more than 12 billion euros in the first half of 2021, 4.2% up on the first quarter of 2020 and it has reached a market share of 25.7%, also placing the bank at the top of the Spanish ranking. Factoring is the set of collection, financing and insolvency coverage management services for domestic and international credit sales. Factoring boosts financing capacity and provides instant liquidity by financing the amount of sales. It also avoids the risk of insolvency non-performance and reduces defaults and delinquency.

Technological developments

CaixaBank has recently implemented a series of digitalisation developments that are proving crucial to the growth that is being achieved in this factoring and reverse factoring segment.

More than 12,000 advances are made per month via digital banking. In that regard, a new reverse factoring app has been launched that enables customers and suppliers to execute the assignment of credit agreements and advances anywhere in the world, 24 hours a day, 365 days a year, from a smartphone.

Furthermore, CaixaBank has made a new digital service (dashboard) available to its customers and suppliers that provides easy access to the key aspects of their reverse factoring contracts, such as the amount of their next payment, information on their payments in the coming weeks, discovering their suppliers' use of their reverse factoring, the status of the last remittance sent, and the most active payers and suppliers. For suppliers, the dashboard provides easy access to functions such as upcoming collection, a 16-week collection forecast and its status, total of the outstanding portfolio that can be advanced, and use over the past twelve months, among other aspects.

CaixaBank, the bank chosen by companies

CaixaBank has consolidated itself as a benchmark institution for businesses with a specialised model, with a network of 150 CaixaBank Empresas centres distributed across all the autonomous communities in Spain, with more than 1,500 highly-qualified employees and a solid reputation in business consulting.

Internationally, CaixaBank supports its business customers with various operational solutions with effective regional access to 127 markets in different countries in addition to its highly-specialised advisers — including specialists in financing and services, foreign trade and liquid assets, structured financing, tourism and real estate — who work in the branches in Spain, offering the best advice for business transactions abroad. The institution provides services to both SMEs and micro-enterprises beginning their export activities, and large corporations and business groups handling more complex international projects.

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<![CDATA[CaixaBank, Spanish leader in sustainable financing among banks in Europe in the first half of the year]]> https://blog.caixabank.es/?p=23645 2021-08-16T00:00:00.0Z 2021-08-16T00:00:00.0Z <![CDATA[CaixaBank, Spanish leader in sustainable financing among banks in Europe in the first half of the year]]>
CaixaBank is the leading Spanish bank in sustainable financing in Europe in the first half of the year, according to the Refinitiv ranking, which places the bank fifth in Europe in this type of financing.

CaixaBank granted €7.2 billion in sustainable financing in the first half of this year, 45% more than the volume financed in 2020, consolidating its position as one of the bank's focal points of activity.

Of this amount, Refinitiv considered US$5.9 billion for its ranking (see appendix), derived from operations in which CaixaBank is considered as a top tier lender by the information platform.

A relevant part of sustainable financing has been formalised under the format of sustainable loans (ESG-Linked), which link the interest rate of the financing to sustainable objectives (KPIs or ESG Ratings). In this category, CaixaBank has closed 38 transactions worth €3.73 billion in 2021. These include Acciona's sustainable syndicated financing, the largest to date in Spain and a global pioneer in guaranteeing the impacts set as objectives in the financing, Atresmedia's syndicated loan, which became the first sustainable loan in Spain in the audiovisual sector, or the syndicated sustainable financing transactions signed with Naturgy, Roca or Werfen. In all these transactions, CaixaBank acted as Sustainability Coordinator and Agent.

Meanwhile, CaixaBank has issued 8 green loans worth €211 million. Green loans are characterised for financing projects with a direct positive environmental impact. Within this category, it is worth highlighting the financing granted in February to the Barcelona Metropolitan Area to finance its sustainable mobility programme and Cúbico's renewable energy project 'Project Finance', both public operations.

In transactions, CaixaBank is leading innovation in Spain in this product segment, mobilising €3.34 million in nine transactions linked to transactional products, including several operations with Endesa, with which the bank formalised the first sustainable factoring in the Spanish market in 2020.

€14.6 billion euros in sustainable issuances

In terms of capital market activity, the bank participated in ESG bond issuances in Spain and Portugal for €14.6 billion in the first half of the year, double the total volume registered in 2020. Specifically, in 2021, it participated as bookrunner in the issuance of 13 bonds rated as green, social or sustainable.

As part of sustainable activity carried out by CaixaBank in the first half of the year in the capital markets, it is worth highlighting the Green or Sustainable Bonds of Red Eléctrica, Telefónica, Iberdrola or Enel, and the Sustainable Bond issuances of the Basque country, Madrid and Andalusia Autonomous Communities.

Meanwhile, CaixaBank has continued its commitment to a funding policy linked to sustainability. During the first half of the year it issued four bonds, three green bonds and one social bond, for an amount of €3 billion and £500 million. This brings the total number of issuances in the Green and Social Bond market to seven since 2019, for a total volume of €6 billion and £500 million. This makes CaixaBank the financial institution with the largest volume of ESG bonds in the euro market.

CaixaBank is one of the financial institutions most committed to sustainability, given that its Socially Responsible Banking Plan covers five significant principles of action that include a direct contribution to the United Nations Sustainable Development Goals.

Through its initiatives, the Bank is supporting environmentally friendly initiatives and projects that contribute to preventing and mitigating climate change and to encouraging the transition to a low-carbon economy and social development.

 
APPENDIX

1H 2021 EMEA Green & ESG Loan League Table - Top Tier Lender
Rank Lender Parent Volume (m) (USD) Total Deals
1 Credit Agricole Corporate & Investment Bank SA [Credit Agricole CIB] 8,338.63 54
2 BNP Paribas SA 7,673.30 60
3 UniCredit 6,077.74 44
4 Deutsche Bank AG 6,006.88 41
5 Caixabank SA 5,902.54 41
6 Societe Generale SA 5,852.98 48
7 Citi 5,429.74 37
8 HSBC Banking Group 5,327.81 39
9 Banco Santander SA 5,094.06 40
10 ING Group 4,700.63 38
11 JP Morgan 4,660.01 32
12 BofA Securities 4,458.60 33
13 Mitsubishi UFJ Financial Group Inc 4,242.00 29
14 Sumitomo Mitsui Financial Group Inc 4,023.38 31
15 Natixis SA 4,021.13 25
16 Mizuho Financial Group Inc 3,818.99 26
17 Barclays 3,718.07 28
18 Intesa Sanpaolo SpA [ISP] 3,578.38 24
19 Commerzbank AG 3,449.09 27
20 Banco Bilbao Vizcaya Argentaria SA [BBVA] 3,311.46 30

Source: Refinitiv

]]>

CaixaBank is the leading Spanish bank in sustainable financing in Europe in the first half of the year, according to the Refinitiv ranking, which places the bank fifth in Europe in this type of financing.

CaixaBank granted €7.2 billion in sustainable financing in the first half of this year, 45% more than the volume financed in 2020, consolidating its position as one of the bank's focal points of activity.

Of this amount, Refinitiv considered US$5.9 billion for its ranking (see appendix), derived from operations in which CaixaBank is considered as a top tier lender by the information platform.

A relevant part of sustainable financing has been formalised under the format of sustainable loans (ESG-Linked), which link the interest rate of the financing to sustainable objectives (KPIs or ESG Ratings). In this category, CaixaBank has closed 38 transactions worth €3.73 billion in 2021. These include Acciona's sustainable syndicated financing, the largest to date in Spain and a global pioneer in guaranteeing the impacts set as objectives in the financing, Atresmedia's syndicated loan, which became the first sustainable loan in Spain in the audiovisual sector, or the syndicated sustainable financing transactions signed with Naturgy, Roca or Werfen. In all these transactions, CaixaBank acted as Sustainability Coordinator and Agent.

Meanwhile, CaixaBank has issued 8 green loans worth €211 million. Green loans are characterised for financing projects with a direct positive environmental impact. Within this category, it is worth highlighting the financing granted in February to the Barcelona Metropolitan Area to finance its sustainable mobility programme and Cúbico's renewable energy project 'Project Finance', both public operations.

In transactions, CaixaBank is leading innovation in Spain in this product segment, mobilising €3.34 million in nine transactions linked to transactional products, including several operations with Endesa, with which the bank formalised the first sustainable factoring in the Spanish market in 2020.

€14.6 billion euros in sustainable issuances

In terms of capital market activity, the bank participated in ESG bond issuances in Spain and Portugal for €14.6 billion in the first half of the year, double the total volume registered in 2020. Specifically, in 2021, it participated as bookrunner in the issuance of 13 bonds rated as green, social or sustainable.

As part of sustainable activity carried out by CaixaBank in the first half of the year in the capital markets, it is worth highlighting the Green or Sustainable Bonds of Red Eléctrica, Telefónica, Iberdrola or Enel, and the Sustainable Bond issuances of the Basque country, Madrid and Andalusia Autonomous Communities.

Meanwhile, CaixaBank has continued its commitment to a funding policy linked to sustainability. During the first half of the year it issued four bonds, three green bonds and one social bond, for an amount of €3 billion and £500 million. This brings the total number of issuances in the Green and Social Bond market to seven since 2019, for a total volume of €6 billion and £500 million. This makes CaixaBank the financial institution with the largest volume of ESG bonds in the euro market.

CaixaBank is one of the financial institutions most committed to sustainability, given that its Socially Responsible Banking Plan covers five significant principles of action that include a direct contribution to the United Nations Sustainable Development Goals.

Through its initiatives, the Bank is supporting environmentally friendly initiatives and projects that contribute to preventing and mitigating climate change and to encouraging the transition to a low-carbon economy and social development.

 
APPENDIX

1H 2021 EMEA Green & ESG Loan League Table - Top Tier Lender
Rank Lender Parent Volume (m) (USD) Total Deals
1 Credit Agricole Corporate & Investment Bank SA [Credit Agricole CIB] 8,338.63 54
2 BNP Paribas SA 7,673.30 60
3 UniCredit 6,077.74 44
4 Deutsche Bank AG 6,006.88 41
5 Caixabank SA 5,902.54 41
6 Societe Generale SA 5,852.98 48
7 Citi 5,429.74 37
8 HSBC Banking Group 5,327.81 39
9 Banco Santander SA 5,094.06 40
10 ING Group 4,700.63 38
11 JP Morgan 4,660.01 32
12 BofA Securities 4,458.60 33
13 Mitsubishi UFJ Financial Group Inc 4,242.00 29
14 Sumitomo Mitsui Financial Group Inc 4,023.38 31
15 Natixis SA 4,021.13 25
16 Mizuho Financial Group Inc 3,818.99 26
17 Barclays 3,718.07 28
18 Intesa Sanpaolo SpA [ISP] 3,578.38 24
19 Commerzbank AG 3,449.09 27
20 Banco Bilbao Vizcaya Argentaria SA [BBVA] 3,311.46 30

Source: Refinitiv

]]>
0
<![CDATA[CaixaBank posts an adjusted net profit of €1.28 billion in the first half of 2021 and raises its synergy targets]]> https://blog.caixabank.es/?p=23645 2021-07-30T00:00:00.0Z 2021-07-30T00:00:00.0Z <![CDATA[CaixaBank posts an adjusted net profit of €1.28 billion in the first half of 2021 and raises its synergy targets]]>  

The CaixaBank Group posted an adjusted net attributable profit without extraordinary items relating to the Bankia merger of €1.28 billion, compared with €205 million reported in the same period a year earlier, which was affected by the significant provisions made to anticipate the future impacts of COVID-19. 

Attributable net profit, which includes Bankia’s contribution only from the second quarter onward, came to €4.2 billion, including the extraordinary impacts arising from the merger. The integration involves a net positive contribution for accounting purposes of €4.3 billion in the form of negative goodwill, and a negative impact of €1.4 billion due to the cost of the workforce restructuring process and other expenses associated with the integration. 

Gonzalo Gortázar, CEO of CaixaBank, highlighted that the Bank “has successfully concluded the first phase of the merger, after reporting good half-year results and the closing of the labour agreement for the restructuring of the Bank”. 

He also announced that “after four intense and fruitful months working on the integration, we have decided to raise our synergy targets to €940 million per year”, compared with the €770 million initially estimated. 

Gortázar added that “in a still complex environment and in the midst of the integration process, we have managed to maintain our strong balance sheet, with the best NPL ratio among the big banks in Spain, and an excellent pace in commercial activity”. 

The CEO welcomed the end of the ECB’s restrictions on bank dividends and pointed out that CaixaBank has “very comfortable levels of capital and an excellent risk management, making it a priority to resume an adequate remuneration policy for our shareholders”. 

He also noted that the bank maintains market shares of around 25% in Spain for the main products, such as mutual funds, deposits, and loans to households and businesses. 

Pro-forma income statement (like-for-like perimeters) 

Based on the pro-forma statement that combines the results of CaixaBank and Bankia, both in the first half of 2020 and 2021, and without considering the extraordinary aspects arising from the merger, profit stood at €1.34 billion, compared to €347 million in 2020. On a like-for-like basis, core revenues were €5.64 billion, up 1.2%. 

Net interest income amounted to €3.28 billion in the first half of the year (-2.3% year-on-year). This decline is due to a reduction in loan income amid falling interest rates and the change in the structure of the portfolio, with an increased weighting of ICO loans and lending to the public sector, and a lower contribution from consumer finance; an impact partially offset by greater recourse to the ECB subject to improved financial terms and conditions. 

Dividend income (€152 million) includes dividends from Telefónica and BFA (Banco de Fomento Angola) totalling €51 million and €98 million, respectively (€50 million and €40 million in 2020). 

Attributable profit of entities accounted for using the equity method (€217 million) has steadily recovered as the pandemic outlook improves (+79% with respect to the same half of the previous year and +45.1% on the first quarter of 2021). 

Other operating income and expenses included, in the second quarter of 2021, the contribution of €181 million made to the Single Resolution Fund (SRF). A total of €171 million was contributed in the same quarter of 2020. 

Gross income was down 0.6%, despite the increase in core revenues and income from the investee portfolio, mainly due to lower trading income (-68.4%) and an increase in expenses recorded under other operating income and expenses (+12.2%). 

Recurring administrative expenses, depreciation and amortisation dropped slightly (-0.6%), showing sound management of the cost base and stable staff expenses (-0.2%). This drive to reduce costs coupled with the performance of core revenues (+1.2%) improved the core cost-to-income ratio by 2.1 percentage points to reach 54.6% in the last 12 months. 

Meanwhile, insolvency allowances came to -€451 million, versus -€1.81 billion in the first half of 2020, which included the recognition of a provision of -€1.45 billion to anticipate the future impacts of COVID-19. 

Further growth in customer funds 

The CaixaBank Group has further strengthened its balance sheet, with business volumes (customer funds, and gross loans and advances to customers) exceeding €964 billion. Customer funds totalled €601 billion at 30 June 2021, up 44.7% following the integration of Bankia (+6% excluding this effect). In the second quarter alone, growth of 3.6% was recorded. 

On-balance sheet funds amounted to €434.7 billion (+2.9% in the quarter and +3.3% organically in the year), while assets under management stood at €151.46 billion, up 3.8% in the quarter and 10.3% organically in the year, i.e. excluding the integration of Bankia. This growth is a product of increased sales plus favourable market performance. Assets under management in mutual funds, portfolios and SICAVs amounted to €105.04 billion (+4.3% in the quarter and +12.1% organically in the year), while pension plans came to €46.42 billion (+2.7% in the quarter and +6.7% organically in the year). 

Gross loans and advances to customers totalled €363.01 billion, up 48.8% in the year following the integration of Bankia’s balance. 

Loans and advances to individuals grew by 59.6% in the year and 0.7% in the quarter. Lending to companies increased 37.5% in the first half of the year, revealing a light quarterly contraction of 2%, while financing to the public sector rose 42.9% in the year and 4% in the quarter. 

The NPL ratio remained stable at 3.6%, while the coverage ratio was 64%. The cost of risk (last 12 months, incorporating Bankia in the second quarter of 2021) was 0.31%. 

Good liquidity position and strong capital ratios 

Total liquid assets stood at €162.73 billion at 30 June 2021, up €48.3 billion in the first half of the year, mainly due to the integration of Bankia. The Group’s Liquidity Coverage Ratio (LCR) at 30 June 2021 was 333%, revealing a comfortable liquidity position well clear of the minimum requirement of 100%. 

A total of €81.16 billion in TLTRO III financing had been drawn under the European Central Bank (ECB) credit facilities at 30 June 2021. Of this amount, €6.22 billion was drawn in the first quarter of 2021, and the total amount drawn increased by €25.21 billion as a consequence of the incorporation of Bankia. 

Turning to capital, the CET1 ratio was 12.9%, exceeding the estimates initially made in relation to the integration process. In the first half of the year, the ratio dropped 77 basis points, mainly due to merger and regulatory impacts, with the organic performance in the first six months adding 64 basis points to the ratio. 

New dividend policy 

The Board of Directors approved the 2021 Dividend Policy at a meeting held yesterday. The policy envisions the distribution of a cash dividend of 50% of consolidated net profit adjusted to reflect the extraordinary impacts arising from the merger with Bankia. It will be paid in a single instalment in 2022. 

Support for individuals and businesses 

CaixaBank has continued to support retail customers and businesses alike during the pandemic. Total moratoria granted by the Group since the onset of COVID-19 amounts to €23.9 billion (617,212 transactions). In Spain, moratoria valued at €17.62 billion has been granted (502,499 transactions). 

Of the total moratoria still in effect at 30 June (€6.8 billion), 25% will end during the third quarter of 2021 and virtually all will finish before the end of the year.

]]>
 

The CaixaBank Group posted an adjusted net attributable profit without extraordinary items relating to the Bankia merger of €1.28 billion, compared with €205 million reported in the same period a year earlier, which was affected by the significant provisions made to anticipate the future impacts of COVID-19. 

Attributable net profit, which includes Bankia’s contribution only from the second quarter onward, came to €4.2 billion, including the extraordinary impacts arising from the merger. The integration involves a net positive contribution for accounting purposes of €4.3 billion in the form of negative goodwill, and a negative impact of €1.4 billion due to the cost of the workforce restructuring process and other expenses associated with the integration. 

Gonzalo Gortázar, CEO of CaixaBank, highlighted that the Bank “has successfully concluded the first phase of the merger, after reporting good half-year results and the closing of the labour agreement for the restructuring of the Bank”. 

He also announced that “after four intense and fruitful months working on the integration, we have decided to raise our synergy targets to €940 million per year”, compared with the €770 million initially estimated. 

Gortázar added that “in a still complex environment and in the midst of the integration process, we have managed to maintain our strong balance sheet, with the best NPL ratio among the big banks in Spain, and an excellent pace in commercial activity”. 

The CEO welcomed the end of the ECB’s restrictions on bank dividends and pointed out that CaixaBank has “very comfortable levels of capital and an excellent risk management, making it a priority to resume an adequate remuneration policy for our shareholders”. 

He also noted that the bank maintains market shares of around 25% in Spain for the main products, such as mutual funds, deposits, and loans to households and businesses. 

Pro-forma income statement (like-for-like perimeters) 

Based on the pro-forma statement that combines the results of CaixaBank and Bankia, both in the first half of 2020 and 2021, and without considering the extraordinary aspects arising from the merger, profit stood at €1.34 billion, compared to €347 million in 2020. On a like-for-like basis, core revenues were €5.64 billion, up 1.2%. 

Net interest income amounted to €3.28 billion in the first half of the year (-2.3% year-on-year). This decline is due to a reduction in loan income amid falling interest rates and the change in the structure of the portfolio, with an increased weighting of ICO loans and lending to the public sector, and a lower contribution from consumer finance; an impact partially offset by greater recourse to the ECB subject to improved financial terms and conditions. 

Dividend income (€152 million) includes dividends from Telefónica and BFA (Banco de Fomento Angola) totalling €51 million and €98 million, respectively (€50 million and €40 million in 2020). 

Attributable profit of entities accounted for using the equity method (€217 million) has steadily recovered as the pandemic outlook improves (+79% with respect to the same half of the previous year and +45.1% on the first quarter of 2021). 

Other operating income and expenses included, in the second quarter of 2021, the contribution of €181 million made to the Single Resolution Fund (SRF). A total of €171 million was contributed in the same quarter of 2020. 

Gross income was down 0.6%, despite the increase in core revenues and income from the investee portfolio, mainly due to lower trading income (-68.4%) and an increase in expenses recorded under other operating income and expenses (+12.2%). 

Recurring administrative expenses, depreciation and amortisation dropped slightly (-0.6%), showing sound management of the cost base and stable staff expenses (-0.2%). This drive to reduce costs coupled with the performance of core revenues (+1.2%) improved the core cost-to-income ratio by 2.1 percentage points to reach 54.6% in the last 12 months. 

Meanwhile, insolvency allowances came to -€451 million, versus -€1.81 billion in the first half of 2020, which included the recognition of a provision of -€1.45 billion to anticipate the future impacts of COVID-19. 

Further growth in customer funds 

The CaixaBank Group has further strengthened its balance sheet, with business volumes (customer funds, and gross loans and advances to customers) exceeding €964 billion. Customer funds totalled €601 billion at 30 June 2021, up 44.7% following the integration of Bankia (+6% excluding this effect). In the second quarter alone, growth of 3.6% was recorded. 

On-balance sheet funds amounted to €434.7 billion (+2.9% in the quarter and +3.3% organically in the year), while assets under management stood at €151.46 billion, up 3.8% in the quarter and 10.3% organically in the year, i.e. excluding the integration of Bankia. This growth is a product of increased sales plus favourable market performance. Assets under management in mutual funds, portfolios and SICAVs amounted to €105.04 billion (+4.3% in the quarter and +12.1% organically in the year), while pension plans came to €46.42 billion (+2.7% in the quarter and +6.7% organically in the year). 

Gross loans and advances to customers totalled €363.01 billion, up 48.8% in the year following the integration of Bankia’s balance. 

Loans and advances to individuals grew by 59.6% in the year and 0.7% in the quarter. Lending to companies increased 37.5% in the first half of the year, revealing a light quarterly contraction of 2%, while financing to the public sector rose 42.9% in the year and 4% in the quarter. 

The NPL ratio remained stable at 3.6%, while the coverage ratio was 64%. The cost of risk (last 12 months, incorporating Bankia in the second quarter of 2021) was 0.31%. 

Good liquidity position and strong capital ratios 

Total liquid assets stood at €162.73 billion at 30 June 2021, up €48.3 billion in the first half of the year, mainly due to the integration of Bankia. The Group’s Liquidity Coverage Ratio (LCR) at 30 June 2021 was 333%, revealing a comfortable liquidity position well clear of the minimum requirement of 100%. 

A total of €81.16 billion in TLTRO III financing had been drawn under the European Central Bank (ECB) credit facilities at 30 June 2021. Of this amount, €6.22 billion was drawn in the first quarter of 2021, and the total amount drawn increased by €25.21 billion as a consequence of the incorporation of Bankia. 

Turning to capital, the CET1 ratio was 12.9%, exceeding the estimates initially made in relation to the integration process. In the first half of the year, the ratio dropped 77 basis points, mainly due to merger and regulatory impacts, with the organic performance in the first six months adding 64 basis points to the ratio. 

New dividend policy 

The Board of Directors approved the 2021 Dividend Policy at a meeting held yesterday. The policy envisions the distribution of a cash dividend of 50% of consolidated net profit adjusted to reflect the extraordinary impacts arising from the merger with Bankia. It will be paid in a single instalment in 2022. 

Support for individuals and businesses 

CaixaBank has continued to support retail customers and businesses alike during the pandemic. Total moratoria granted by the Group since the onset of COVID-19 amounts to €23.9 billion (617,212 transactions). In Spain, moratoria valued at €17.62 billion has been granted (502,499 transactions). 

Of the total moratoria still in effect at 30 June (€6.8 billion), 25% will end during the third quarter of 2021 and virtually all will finish before the end of the year.

]]>
0
<![CDATA[José Ignacio Goirigolzarri joins the board of trustees of Mobile World Capital Barcelona as a representative of CaixaBank]]> https://blog.caixabank.es/?p=23645 2021-07-22T00:00:00.0Z 2021-07-22T00:00:00.0Z <![CDATA[José Ignacio Goirigolzarri joins the board of trustees of Mobile World Capital Barcelona as a representative of CaixaBank]]> The Chairman of CaixaBank, José Ignacio Goirigolzarri, has joined the board of trustees of Mobile World Capital Barcelona, its highest governing body, as a representative of the financial institution. Upon inception, Goirigolzarri held a meeting with Carlos Grau, CEO of MWCapital, to continue to strengthen bonds and establish areas of collaboration between the two entities for the coming months. The meeting was held at the MWCapital facility, located at Tech Barcelona's Pier 01.

The agreement between CaixaBank and MWCapital, which was signed in July 2019 and will remain in force until 2024, is yet another example of the financial institution's commitment to digital innovation and transformation. Along these lines, José Ignacio Goirigolzarri, Chairman of CaixaBank, highlighted that “in an environment of social and economic growth of digitalisation, Mobile World Capital Barcelona is a key meeting point for leading technological progress.” Goirigolzarri has also stated that “CaixaBank will continue to strengthen its joint work with MWCapital in order to develop innovative initiatives capable of taking on the major challenges of digital transformation.”

Carlos Grau, CEO of Mobile World Capital Barcelona, explained that “incorporating CaixaBank into  the MWCapital board of trustees has allowed us to extend the foundation’s legacy.” Grau specified that from their first meeting, “we will attach particular importance to the development of digital talent and to accompanying citizens, so that together we can meet the challenges arising from digital gaps.”

The partnership between CaixaBank and MWCapital is undertaken primarily through collaboration on projects of interest to both entities within the framework of four specific fields: innovation, technology, talent and society. In this context, CaixaBank plays an active and influential role as a benchmark entity in these fields.

CaixaBank, leader in innovation

Technology and digitalisation are key to the business model of the company, which has the largest digital customer base in Spain (10.4 million). In addition, CaixaBank has developed landmark technology projects in the sector, such as the creation of the first ATMs that allow users to withdraw cash through facial recognition and without having to enter their PIN – a project chosen in 2019 as one of the Technological Projects of the Year in the Tech Project Awards by The Banker magazine. 

Thanks to its digital transformation strategy, CaixaBank has become one of the world's highest rated banks for the quality of its digital products and services, with recognitions that include being named “World's Best Consumer Bank 2020” and “Best Bank in Spain 2020” by the US magazine Global Finance. In addition, this year it has been awarded as “Outstanding Financial Innovator (Bank) in Western Europe 2021”, by Global Finance, and "Best Private Bank for Big Data Analytics and Al in Europe", by PWM (Financial Group Times). These awards are in addition to those obtained in the digital banking sector, such as “Best digital bank in consumer banking in Spain 2020”. 

About Mobile World Capital Barcelona 

Mobile World Capital Barcelona is an initiative that fosters the digital development of society and helps to improve people's lives globally. With public and private support, MWCapital focuses on four fields: accelerating innovation through digital entrepreneurship; transforming industry through digital technology; growing digital talent among new generations and professionals; and reflection on technology's impact on our society. Together, our programmes are positively transforming the economy, education and society. MWCapital hosts MWC Barcelona and founded 4 Years From Now [4YFN], the business platform for the start-up community present at all MWC events worldwide.

]]>
The Chairman of CaixaBank, José Ignacio Goirigolzarri, has joined the board of trustees of Mobile World Capital Barcelona, its highest governing body, as a representative of the financial institution. Upon inception, Goirigolzarri held a meeting with Carlos Grau, CEO of MWCapital, to continue to strengthen bonds and establish areas of collaboration between the two entities for the coming months. The meeting was held at the MWCapital facility, located at Tech Barcelona's Pier 01.

The agreement between CaixaBank and MWCapital, which was signed in July 2019 and will remain in force until 2024, is yet another example of the financial institution's commitment to digital innovation and transformation. Along these lines, José Ignacio Goirigolzarri, Chairman of CaixaBank, highlighted that “in an environment of social and economic growth of digitalisation, Mobile World Capital Barcelona is a key meeting point for leading technological progress.” Goirigolzarri has also stated that “CaixaBank will continue to strengthen its joint work with MWCapital in order to develop innovative initiatives capable of taking on the major challenges of digital transformation.”

Carlos Grau, CEO of Mobile World Capital Barcelona, explained that “incorporating CaixaBank into  the MWCapital board of trustees has allowed us to extend the foundation’s legacy.” Grau specified that from their first meeting, “we will attach particular importance to the development of digital talent and to accompanying citizens, so that together we can meet the challenges arising from digital gaps.”

The partnership between CaixaBank and MWCapital is undertaken primarily through collaboration on projects of interest to both entities within the framework of four specific fields: innovation, technology, talent and society. In this context, CaixaBank plays an active and influential role as a benchmark entity in these fields.

CaixaBank, leader in innovation

Technology and digitalisation are key to the business model of the company, which has the largest digital customer base in Spain (10.4 million). In addition, CaixaBank has developed landmark technology projects in the sector, such as the creation of the first ATMs that allow users to withdraw cash through facial recognition and without having to enter their PIN – a project chosen in 2019 as one of the Technological Projects of the Year in the Tech Project Awards by The Banker magazine. 

Thanks to its digital transformation strategy, CaixaBank has become one of the world's highest rated banks for the quality of its digital products and services, with recognitions that include being named “World's Best Consumer Bank 2020” and “Best Bank in Spain 2020” by the US magazine Global Finance. In addition, this year it has been awarded as “Outstanding Financial Innovator (Bank) in Western Europe 2021”, by Global Finance, and "Best Private Bank for Big Data Analytics and Al in Europe", by PWM (Financial Group Times). These awards are in addition to those obtained in the digital banking sector, such as “Best digital bank in consumer banking in Spain 2020”. 

About Mobile World Capital Barcelona 

Mobile World Capital Barcelona is an initiative that fosters the digital development of society and helps to improve people's lives globally. With public and private support, MWCapital focuses on four fields: accelerating innovation through digital entrepreneurship; transforming industry through digital technology; growing digital talent among new generations and professionals; and reflection on technology's impact on our society. Together, our programmes are positively transforming the economy, education and society. MWCapital hosts MWC Barcelona and founded 4 Years From Now [4YFN], the business platform for the start-up community present at all MWC events worldwide.

]]>
0
<![CDATA[CaixaBank participates in Kingsfisher’s new £550m revolving credit facility linked to sustainability targets]]> https://blog.caixabank.es/?p=23645 2021-07-21T00:00:00.0Z 2021-07-21T00:00:00.0Z <![CDATA[CaixaBank participates in Kingsfisher’s new £550m revolving credit facility linked to sustainability targets]]>
CaixaBank, Spain’s leading bank, has participated as Mandated Lead Arranger in the execution of a new sustainable 3-year credit facility for £550 million of Kingfisher, the international home improvement retailer.

The financial terms of the Kingfisher credit facility are linked to the fulfillment by the company of ambitious sustainability and community-based targets by 2025-2026.

Among these, Kingfisher commited to fight against climate change by reducing carbon emissions from its business, products and supply chain. The target is to deliver 1.5ºC science-based carbon reduction targets, with the facility covering Kingfisher’s actions to reduce its Scope 1 and 2 impacts.

Moreover, Kingfisher is committed to becoming forest positive by creating more forests than it uses. The credit facility target is to reach 100% sustainable wood and paper for its products.

In the community field, Kingfisher is committed to help more than 2 million people whose housing needs are greatest in their community. The target is defined as the number of people who directly benefited from Kingfisher’s community contributions.

With this transaction, carried out by CaixaBank UK Branch (hereinafter, CaixaBank UK), in coordination with the Corporate & Acquisition Finance and the Sustainable Finance teams, the company strengthens its activity in the sustainable financing business in the United Kingdom. 

CaixaBank in UK

The United Kingdom is a key market for CaixaBank due to its size, its economic outlook and its strategic links to other major markets. CaixaBank’s physical presence in the UK goes back to 2003, when the bank opened a representative office in London. The office evolved in to a branch in 2016 becoming CaixaBank UK.

CaixaBank UK comprises a team of highly qualified professionals who provide corporate banking services to British corporates as well as Spanish and multinational clients with a relevant investment and activity in the UK. CaixaBank UK offers both transactional and lending products, including supply chain finance facilities, long term corporate financings and project finance structures, as well as cross border and foreign exchange solutions.

CaixaBank has participated in 16 renewable energy projects in the UK for a total capacity of over ten thousand MW. 

CaixaBank: committed to sustainability

CaixaBank is one of the financial institutions most committed to sustainability, based on its Socially Responsible Banking Plan which includes five specific principles of action that make a direct contribution to the United Nations’ Sustainable Development Goals (SDGs). Through its activities, the bank supports environmentally-friendly initiatives and projects that contribute to preventing and mitigating climate change, and promoting the transition to a low-carbon economy and social development.

The bank has mobilised more than €12bn in sustainable financing in 2020, with more than €2bn formalised in green financing and more than €3bn formalised in financing linked to ESG variables, where the objectives on environmental variables, such as the reduction of emissions or energy efficiency, stand out.

In 2020, CaixaBank was ranked fifth in Europe and ninth worldwide for providing green and sustainable loans in the top tier league tables by volume, according to Refinitiv. 

About Kingfisher plc

Kingfisher plc is an international home improvement company with approximately 1,400 stores, supported by a team of over 83,000 colleagues. Kingfisher operate in eight countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş. Kingfisher offer home improvement products and services to consumers and trade professionals who shop in their stores and via their e-commerce channels. Kingfisher’s purpose is to help make better homes accessible for everyone.

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CaixaBank, Spain’s leading bank, has participated as Mandated Lead Arranger in the execution of a new sustainable 3-year credit facility for £550 million of Kingfisher, the international home improvement retailer.

The financial terms of the Kingfisher credit facility are linked to the fulfillment by the company of ambitious sustainability and community-based targets by 2025-2026.

Among these, Kingfisher commited to fight against climate change by reducing carbon emissions from its business, products and supply chain. The target is to deliver 1.5ºC science-based carbon reduction targets, with the facility covering Kingfisher’s actions to reduce its Scope 1 and 2 impacts.

Moreover, Kingfisher is committed to becoming forest positive by creating more forests than it uses. The credit facility target is to reach 100% sustainable wood and paper for its products.

In the community field, Kingfisher is committed to help more than 2 million people whose housing needs are greatest in their community. The target is defined as the number of people who directly benefited from Kingfisher’s community contributions.

With this transaction, carried out by CaixaBank UK Branch (hereinafter, CaixaBank UK), in coordination with the Corporate & Acquisition Finance and the Sustainable Finance teams, the company strengthens its activity in the sustainable financing business in the United Kingdom. 

CaixaBank in UK

The United Kingdom is a key market for CaixaBank due to its size, its economic outlook and its strategic links to other major markets. CaixaBank’s physical presence in the UK goes back to 2003, when the bank opened a representative office in London. The office evolved in to a branch in 2016 becoming CaixaBank UK.

CaixaBank UK comprises a team of highly qualified professionals who provide corporate banking services to British corporates as well as Spanish and multinational clients with a relevant investment and activity in the UK. CaixaBank UK offers both transactional and lending products, including supply chain finance facilities, long term corporate financings and project finance structures, as well as cross border and foreign exchange solutions.

CaixaBank has participated in 16 renewable energy projects in the UK for a total capacity of over ten thousand MW. 

CaixaBank: committed to sustainability

CaixaBank is one of the financial institutions most committed to sustainability, based on its Socially Responsible Banking Plan which includes five specific principles of action that make a direct contribution to the United Nations’ Sustainable Development Goals (SDGs). Through its activities, the bank supports environmentally-friendly initiatives and projects that contribute to preventing and mitigating climate change, and promoting the transition to a low-carbon economy and social development.

The bank has mobilised more than €12bn in sustainable financing in 2020, with more than €2bn formalised in green financing and more than €3bn formalised in financing linked to ESG variables, where the objectives on environmental variables, such as the reduction of emissions or energy efficiency, stand out.

In 2020, CaixaBank was ranked fifth in Europe and ninth worldwide for providing green and sustainable loans in the top tier league tables by volume, according to Refinitiv. 

About Kingfisher plc

Kingfisher plc is an international home improvement company with approximately 1,400 stores, supported by a team of over 83,000 colleagues. Kingfisher operate in eight countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş. Kingfisher offer home improvement products and services to consumers and trade professionals who shop in their stores and via their e-commerce channels. Kingfisher’s purpose is to help make better homes accessible for everyone.

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<![CDATA[MicroBank grants more than €467 million to projects that generate a positive social impact]]> https://blog.caixabank.es/?p=23645 2021-07-21T00:00:00.0Z 2021-07-21T00:00:00.0Z <![CDATA[MicroBank grants more than €467 million to projects that generate a positive social impact]]>
MicroBank, CaixaBank's social bank, has dedicated €467.5 million to funding projects that generate a positive social impact in the first half of 2021. This figure includes microcredits granted to families, and microcredits for business and financing intended for sectors with a social impact, focused on projects in the social economy, education, entrepreneurship and innovation.

One of the mainstays of MicroBank's activity, microcredits intended for business, benefited 8,381 entrepreneurs and microenterprises up until June 2021. MicroBank allocated €106.1 million to help restore the textile business. The average amount of microcredits allocated to businesses reached €12,660, compared to €11,306 in the same period the previous year.

Along these lines, it is worth highlighting the amount earmarked for micro-credits that have been created under the agreements with more than 300 collaborating entities, which have grown by 79%. 97% of these microcredits are intended to start new businesses, and entrepreneurs have advisory services for their project through entities such as Andalucía Emprende, Incorpora, Chambers of Commerce, City Councils and Non-Profit Organizations throughout Spain.

Furthermore, microcredits granted to families, intended to solve basic needs such as health, education and housing for people with difficulties in accessing loans, amounted to 42,389 between January and June and reached a value of €247.75 million. The average amount of microcredits to families was €5,845 in the first half of the year, a 10.4% increase.

Financing intended for sectors with a social impact, focused on projects in the social economy, education, entrepreneurship and innovation, reported a significant rise in the first half of the year.  MicroBank helped implement 2,859 projects in Spain as a result of funding for an overall value of €113.7 million, representing a 65% increase in the number of operations and a 35.3% in the amount compared to the first six months of 2020.

At MicroBank we are fully committed to the most vulnerable groups, our goal is to contribute to the well-being of society, and the crisis arising from the COVID-19 pandemic has only increased our endeavour to help make recovery and social progress accessible to all”, explained Juan Carlos Gallego, MicroBank's chairman. In turn, Cristina González, MicroBank's CEO, has insisted that “microcredits are a financial tool that help improve social cohesion by reducing inequalities when it comes to access to credit".

Socially responsible banking

MicroBank offers solutions to different segments of the population whose financial needs are not sufficiently met. It has a defining role in CaixaBank's Socially Responsible Banking Plan, the mission of which is to promote financial inclusion, helping the most vulnerable groups access loans, as well as reinforcing its commitment towards the territory's socioeconomic development.

As the sole shareholder of MicroBank, CaixaBank has supported its social bank since its creation by giving it the funding required to grow its lending activity while marketing MicroBank products through CaixaBank's extensive commercial network, with the aim of offering customers its entire range of products with the highest possible quality of service and the best possible relationship.

MicroBank also relies on the support of Europe's leading institutions when it comes to promoting enterprise and microfinance, namely the European Investment Fund (EIF), the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB).

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MicroBank, CaixaBank's social bank, has dedicated €467.5 million to funding projects that generate a positive social impact in the first half of 2021. This figure includes microcredits granted to families, and microcredits for business and financing intended for sectors with a social impact, focused on projects in the social economy, education, entrepreneurship and innovation.

One of the mainstays of MicroBank's activity, microcredits intended for business, benefited 8,381 entrepreneurs and microenterprises up until June 2021. MicroBank allocated €106.1 million to help restore the textile business. The average amount of microcredits allocated to businesses reached €12,660, compared to €11,306 in the same period the previous year.

Along these lines, it is worth highlighting the amount earmarked for micro-credits that have been created under the agreements with more than 300 collaborating entities, which have grown by 79%. 97% of these microcredits are intended to start new businesses, and entrepreneurs have advisory services for their project through entities such as Andalucía Emprende, Incorpora, Chambers of Commerce, City Councils and Non-Profit Organizations throughout Spain.

Furthermore, microcredits granted to families, intended to solve basic needs such as health, education and housing for people with difficulties in accessing loans, amounted to 42,389 between January and June and reached a value of €247.75 million. The average amount of microcredits to families was €5,845 in the first half of the year, a 10.4% increase.

Financing intended for sectors with a social impact, focused on projects in the social economy, education, entrepreneurship and innovation, reported a significant rise in the first half of the year.  MicroBank helped implement 2,859 projects in Spain as a result of funding for an overall value of €113.7 million, representing a 65% increase in the number of operations and a 35.3% in the amount compared to the first six months of 2020.

At MicroBank we are fully committed to the most vulnerable groups, our goal is to contribute to the well-being of society, and the crisis arising from the COVID-19 pandemic has only increased our endeavour to help make recovery and social progress accessible to all”, explained Juan Carlos Gallego, MicroBank's chairman. In turn, Cristina González, MicroBank's CEO, has insisted that “microcredits are a financial tool that help improve social cohesion by reducing inequalities when it comes to access to credit".

Socially responsible banking

MicroBank offers solutions to different segments of the population whose financial needs are not sufficiently met. It has a defining role in CaixaBank's Socially Responsible Banking Plan, the mission of which is to promote financial inclusion, helping the most vulnerable groups access loans, as well as reinforcing its commitment towards the territory's socioeconomic development.

As the sole shareholder of MicroBank, CaixaBank has supported its social bank since its creation by giving it the funding required to grow its lending activity while marketing MicroBank products through CaixaBank's extensive commercial network, with the aim of offering customers its entire range of products with the highest possible quality of service and the best possible relationship.

MicroBank also relies on the support of Europe's leading institutions when it comes to promoting enterprise and microfinance, namely the European Investment Fund (EIF), the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB).

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