CaixaBank's aid plan for those affected by the cold front (DANA)

• The bank has launched a support plan aimed at those affected by the DANA (High-altitude isolated depression, for its acronym in Spanish) that has caused serious damage in the Valencian Community, Castilla-La Mancha and Andalusia
• Among the measures announced, it is worth highlighting various lines of 0% interest advances and financing on preferential terms for individuals, businesses and companies with the aim of repairing the damage caused by the floods and guaranteeing the continuity of business activity
• The aid has already begun to be distributed, and the bank has also activated the loan payment moratorium for affected customers to help reduce financial pressure and support recovery
• In addition, an exclusive line has been set up for the processing of compensations from insurance companies and campaigns have been launched to collect donations in favour of the Spanish Red Cross and Cáritas Diocesana de Valencia
• CaixaBank has moved mobile branches to provide service in locations where physical branches cannot serve customers, such as in the towns of Algemesí, Benetússer, Paiporta, Aldaia and Albal

CaixaBank remains committed to providing support to those affected by the cold front (DANA) in various autonomous communities throughout Spain, mainly in the Valencian Community, but also in Castile La-Mancha and Andalusia. The cold front has caused the loss of numerous human lives, as well as substantial material losses and significant damage to infrastructure.

Since the start of the cold front tragedy, the company has continued to process loans and advance payments, such as car loans and home improvement loans. In addition to these measures, the bank has also implemented new initiatives aimed at repairing the losses caused and help enterprises return to normal operation, such as loan deferments, among other initiatives. CaixaBank was the first entity to take mobile branch services to the most affected areas to help the people carry out their essential banking transactions and the first one to activate the ICO DANA lines for individuals and enterprises.

Measures for individuals and self-employed workers: loans advances and deferments

CaixaBank made a line of financing available for both individuals and the self-employed to get advanced aid payments and to cover their immediate needs, ensuring all individuals and self-employed affected by the DANA in the Valencian Community, Castile-La Mancha and Andalusia received the aid they needed.

The company also activated the loan deferment option for affected customers to relieve their financial charge and assist them in the process of recovery. This measure temporarily suspends loan repayments for retail banking customers, the self-employed, SMEs and microenterprises living or operating in declared catastrophe zones for up to 12 months (up to three months of a total grace period, with an option for up to nine months of a capital grace period, paying interest only).

Similarly, CaixaBank adhered to the new ICO lines of financing that were made available by the Government on November 26 to make advance payments of both the compensation and aid for those affected by the DANA and drive economic recovery. These lines aim to mobilise €5 billion in loans and are directed at individuals and enterprises, thus allowing the bank to continue providing the financing facilities required to repair the damage caused. They also let the bank continue offering extraordinary credit facilities for longer periods than those initially set out in the emergency lines that were activated hours after the catastrophe struck the region.

The new ICO line of financing is composed of three lines. The first two are aimed at making advance payments of the aid provided by public administrations as well as compensations given by insurance companies to affected individuals, the self-employed, communities of owners and enterprises, even if the official appraisal of the losses has not been carried out yet. In both cases, the amount will be estimated according to the terms and conditions of the policies and the losses. A fixed interest rate of 0% APR will be applied to customers during the first three months, and of 2.5% APR for loans with terms ranging from three months to up to five years.

Advance payments of insurance compensations and streamlining of procedures

The bank is also making advance payments of the insurance compensations, so all affected individuals can start repairing the damage caused by the cold front in their homes and/or vehicles until they receive aid from the Insurance Compensation Consortium.

Moreover, SegurCaixa Adeslas opened an exclusive helpline (900 103 500) to streamline the contact process with the insurance company. Insured persons will be helped with their claims, opening a file for them with the Insurance Compensation Consortium (CCS) to expedite the procedure and help manage the entire process.

Measures for SMEs and enterprises

CaixaBank is offering an extraordinary line of financing worth more than €2.5 billion to the SMEs and enterprises affected by the DANA; in addition to €650 million for the SMEs and enterprises in Castile-La Mancha.

These are complemented with another extraordinary line of financing offered by MicroBank, CaixaBank's social bank, to guarantee the continued activity of self-employed workers and SMEs with a turnover of up to €2 million and less than ten employees, granting a maximum of €50,000, which are to be repaid in 72 months.

As part of CaixaBank’s adherence to the ICO lines of financing aimed at helping the SMEs and enterprises affected by the cold front, one of the lines opened is aimed at those businesses whose main operations are based in the affected areas, with the aim of ensuring they have the cash they need and to help them restore their operations back to normal.

In addition, CaixaBank will automatically renew the working capital credit line maturities of affected customers, including the self-employed and SMEs.

Specific measures for the agri-food sector

AgroBank, CaixaBank’s business area aimed at the agri-food sector, offered an emergency line of financing worth over €300 million to help farmers and crop producers affected by the cold front. This initiative also includes aid and compensation to restore the effects of the heavy rain and storms.

In Andalusia, two provinces suffered the biggest impact: Almería and Málaga. In Almería, CaixaBank offered a line of financing worth €11.6 million for the affected farms and crop producers in the municipality of El Ejido. In Málaga, the bank offered another line of financing worth €2.2 million with the same objective, aimed at the people affected in the municipalities of Alora, Pizarra and Cártama.

Service restoration and provision of mobile branch services

The bank, which has a wide network of branches in the region affected by the cold front, is working hard to restore services back to normal as soon as possible. Most of the branches continued to offer their services during the first days after the impact of the cold front, in particular, in the Valencian Community.

The bank activated its mobile branch services to provide coverage to areas in which physical branches could not be opened due to the effects of the cold front. These are special vehicles equipped with the necessary technology to continue providing essential banking services, such as cash withdrawals, request for advance payments, loan deferment management and arranging of insurance policies. We have therefore been able to continue providing our services to customers in Algemesí, Benetússer, Paiporta, Aldaia, Massanassa, Sedaví and Albal.

The bank is making a huge effort to restore normal operations at the affected branches as soon as possible. Currently, all but three of its branches are open. These three municipalities (Sedaví, Massanassa and Albal), will continue to provide their services from mobile branches until they can be reopened.

Similarly, to avoid customers having to travel to other nearby towns and cities, CaixaBank will allow customers of other banks to withdraw cash from its 785 ATMs in the province of Valencia with no fees. This measure is still in force in the affected areas.

Volunteering, donations platform and surplus materials

Voluntariado CaixaBank is offering its help to the municipalities that were most affected by the cold front, helping them in the road cleaning and restoration, collecting and distributing food, helping senior citizens and carrying out other activities to help the people affected by the DANA.

CaixaBank also created an emergency fund raising platform, which can be accessed from CaixaBankNow and ATMs to receive donations that will help the people affected by the DANA. You do not need to be a customer to donate and can do so in a quick and easy way. Anyone can donate at an ATM at one of our branches; the bank's website (www.caixabank.es); the digital, online and mobile banking service; ATMs across Spain and also via Bizum (Spanish Red Cross, Bizum no. 04057 and Cáritas Diocesana of Valencia, Bizum no. 10502).

CaixaBank has also put in place the “ReUtilízame programme”, which encourages companies to donate surplus materials in good condition to non-profit social organisations.

Moreover, the “CaixaBank escolta València” programme sponsored by the bank has restructured its content, cancelling the orchestra contest and festival, adapting its schedule and allocating most of its budget to help the musician's associations affected by the cold front.

The bank is demonstrating its commitment to being close to people and society and focusing on the most critical matters, in particular, in these hard times for the people of Valencia.