Press release

CaixaBank grants €1.1 billion in credit to the Spanish hotel sector over the first four months of 2020

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CaixaBank’s headquarters

• This figure is a 48% increase over the same period in 2019 with a total of 2,400 transactions, 82% more than the first four months of last year.

• CaixaBank aims to be a key player in helping the Spanish economy to recover as soon as possible by granting loans and meeting sector needs.

• CaixaBank supports the hotel sector through its Hotels & Tourism business line, with the aim of boosting the tourist market through the implementation of a specialised model and working closely with hotels and other tourist accommodation.

CaixaBank Hotels & Tourism, the business line through which Spain’s leading retail bank leads the tourist market by implementing its specialised model and working closely with companies and businesses in the sector, has granted a total of €1.1 billion in credit to the Spanish hotel and tourist accommodation sector over the first four months of 2020. This figure is a 48% increase over the same period in the previous year, during which CaixaBank granted €745 million in credit with a total of 2,400 transactions completed all over Spain, 82% more than the first four months of 2019. In terms of geographical distribution, the autonomous communities that benefitted from the highest volume of credit were the Balearic Islands, Catalonia and the Canary Islands.

This volume of credit once again reinforces CaixaBank's commitment to the tourist sector, as well as its desire to play a key role in helping the Spanish economy to recover as soon as possible by granting loans and meeting the specific needs of this key Spanish sector. Through this specialised line of financing, CaixaBank offers specific measures for its customers from the tourist sector, including the granting of liquidity facilities and moratorium on mortgage payments, with a view to helping companies affected by the suspension of their business activity to maintain liquidity. CaixaBank Hotels & Tourism serves 9,300 customers from the tourist accommodation sector and has agreements with the main hospitality federations and associations, making CaixaBank a key player with the ability to detect and meet sector needs, so crucial at this time, through a customised service operated by a team of 30 specialists in the hotel sector and over 1,200 CaixaBank business advisors.

 Support measures to reactivate the economy

In addition to its lines of financing, since the start of the COVID-19 pandemic, CaixaBank has adopted a wide range of measures to alleviate the economic effects of coronavirus and to support society’s needs.

Under the slogan #ByYourSideNowMoreThanEver and its commitment to socially responsible banking, CaixaBank has launched a series of measures to help individuals, self-employed workers and companies to manage the current situation. This initiative includes advancing the payment of pensions and unemployment benefits and cancelling rent payments for properties owned by CaixaBank.

During this time, CaixaBank has also activated its online volunteering programme through its Association of Volunteers and, together with the “la Caixa” Foundation, has reinforced the “No home without food” campaign to respond to the social emergency caused by the current healthcare and social crisis.

 

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