Press release

CaixaBank accompanies Spanish agro-food companies in Africa's largest agricultural trade fair

CaixaBank at SIAM -ENG

• CaixaBank is the sole Spanish bank present at the 14th edition of the Salon International de l’Agriculture au Maroc (SIAM) and bolsters its position as a benchmark entity for Spanish companies in Morocco.

• Managers from the International Banking and Foreign Trade and Risk Management divisions will offer advice and support to Spanish companies attending the event.

• Spain has become an agroindustrial benchmark for Morocco and CaixaBank is currently among the most active financial institutions in the agricultural, fishing and agro-food sectors in Spain.

CaixaBank takes part for the third consecutive year in the Salon International de l’Agriculture au Maroc (SIAM – International Agricultural Trade Fair in Morocco), with the aim of accompanying, advising and supporting Spanish companies from the agro-food sector that seek internationalisation on the African continent.

CaixaBank, the sole Spanish bank present at the event, bolsters its position as a benchmark entity for Spanish companies in Morocco, where it has been present for a decade.

The SIAM, which is held between 16 and 21 April in the city of Meknes, is Africa's largest agricultural trade fair. This year, the event expects to receive a million visitors and more than 1,500 exhibitors from 72 countries.

This year, managers from CaixaBank's International Banking and Foreign Trade and Risk Management divisions will meet companies attending the event to advise them and support them on their exports and investments in Morocco.

Through these divisions, CaixaBank offers advisory services on long and short-term financing, collection and payment management, guarantee facilities, foreign trade and risk management, accompanying its customers throughout their internationalisation process. 

Within the framework of the trade fair, together with ICEX, CaixaBank will hold an event to promote knowledge and relations between Moroccan and Spanish agro-food companies. In addition to representatives from the companies present at the trade fair, the event is scheduled to host Ricardo Díez-Hochleitner Rodríguez, Spain's ambassador to the country; Ignacio Pino, CaixaBank's country manager in Morocco; and Manuela Hernández-Ardieta Rosique, a specialist in Foreign Trade at CaixaBank's Eastern Andalusia-Murcia Regional Division. 

Agriculture is a significant driver for the Moroccan economy, representing 14% of the GDP, according to ICEX data from 2018. It employs around 40% of the total working population, with 4 million jobs and 1.5 million farm holdings. Together with the agroindustry and fishing, it is the third-ranked sector in terms of exports and represents 20% of the value of the Moroccan exports.

Spain has become an agroindustrial benchmark for Morocco. It currently leads sales of agricultural machinery in the country. Between January and November 2018, Spain exported 402 million euros in agro-food products to Morocco; whereas it imported 1.4 billion euros.

AgroBank, the business line for farming and agro-food companies

AgroBank, CaixaBank's business line designed for the agricultural sector, has consolidated its leadership in this sector and its customers include one out of every four Spanish farmers. AgroBank's value proposal combines developing the best products and services adapted to meet the specific needs of farmers, stockbreeders and members of cooperatives, blended with personal and comprehensive advice.

AgroBank has almost 1,000 exclusive branches in Spain, offering customers 3,000 professionals with extensive knowledge of the sector, and conducting actions to boost to the sector, such as technical events, agreements with important organisations, and seminars given by the AgroBank Lectureship.

Specialised advice on Foreign Trade and Risk Management

CaixaBank is among the leading companies in offering advice on foreign trade to Spanish companies, with financial solutions adapted to suit each company's profile in its internationalisation process, ranging from SMEs and micro-enterprises that are starting exportation activities, to large corporations and business groups tackling more complex international projects.

CaixaBank offers specialised, personalised advice with an extensive network of specialists: 120 professionals in its Foreign Trade and Risk Management division located at the entity’s business centres.

Furthermore, CaixaBank offers pioneering services for companies, such as a specialised online service and in-company sessions arranged at the customer's offices and conducted via videoconference, and it is the first financial institution to obtain the AENOR quality certification for this service.

CaixaBank holds its Jornadas de Puerta al Exterior (Foreign Gateway Sessions) events to support the corporate sector in international projects.

Morocco, a key country for CaixaBank

This year, CaixaBank is celebrating the tenth anniversary of its banking licence in Morocco. It currently has three branches in the country – Casablanca, Tangier and Agadir – from which it offers foreign trade, business banking and corporate banking services, both to Spanish companies already established in the country or looking to enter the Moroccan market, and to Moroccan and multinational corporations.

In Agadir, due to the characteristics of this city's economy, the bank also offers its specialised services for the tourism, fishing and agricultural sectors. This branch has the product offering and know-how of AgroBank, the line of business developed specifically by CaixaBank for farming and agro-food companies.

The entity has established itself as a benchmark bank for Spanish companies operating in Morocco. More than 60% of the 800 Spanish companies operating in the country (according to ICEX data) are customers at the CaixaBank branch.

Last year, CaixaBank spearheaded the issuance of guarantees for Spanish companies with projects in the African country, with a market share of 57.7% for this kind of guarantee. Furthermore, in terms of letters of credit, Moroccan banks sent 25.6% of these to CaixaBank in Spain in 2018, thus, also establishing the bank as a leader in this market.

CaixaBank's international presence

CaixaBank has international branches in Morocco, Poland, the United Kingdom, Germany and France. Similarly, it has 18 representation branches spread across the 5 continents, from which it offers advice to multinational enterprises with subsidiaries in Spain, as well as to Spanish companies with projects abroad. 

Furthermore, CaixaBank has agreements in place with international banks, making it easier for companies and individuals from any country in the world to engage in international transactions and foreign trade. Conversely, it has a 9.92% stake in the Austrian entity Esrte Bank, and fully owns Portugal's Banco BPI.