The credit cooperative Popular Caixa Keep expanding Your business niche in the Valencian banking sector and closed the 2024 exercise with A net profit of 30.87 million euros, 28% more than in 2023after making endowments of 39.2 million euros.
The Valencian entity continues to take advantage of its expansion strategy against generalized replication in the banking sector and the cutting of branches in the streets. Thus, the cooperative increased in more than two digits The deposits that it manages, up to a volume of 3,283 million euroswhich represents a growth of 13% in the last year.
In the case of your office network, last year inaugurated Two new branches in Utiel and Buñol and by 2025 the opening of two more is already planned in the neighborhood of Campanar de Valencia and in Benetússer. An extension that will allow the entity to have a total of 82 offices distributed by the main Valencian locations.
Regarding financing operations its credit investments were 2,155 million euros, 8% more than in the previous yearaccording to the entity. On the other hand, the endowments to the insolvency fund have risen to 34.2 million euros, which places the total delinquency coverage in 150.07%, with a 2.79%Mora ratio.
Improvement of margins
From the point of view of profitability, The margin of interest It has risen to 104 million euros, 18% more than in 2023while the gross margin has reached 134 million euros, with an increase of 17%. In addition, the efficiency ratio has been 39.93%.
With its expansion, Caixa Popular has generated 30 new jobs During the past year, reaching a total template of 449 people, of which 80% are work partners and, therefore, owners of the cooperative.
In addition, the cooperative allocated 3.7 million euros to social impact projects through its collaboration with more than 2,000 entities and NGOs.
DANA RESPONSE
In response to the emergency situation caused by the Dana catastrophe, Caixa Popular has based its strategy of support in the provision of funds to organizations with which it maintains a close relationship to ensure that resources are managed efficiently, ensuring that the most vulnerable groups are already reached.
Among the beneficiary organizations are Red Cross and Caritas, which have received funds to offer direct aid to affected people. Fundació Horta Sud and the federation of musical societats of the Valencian Community have also received support to help affected social organizations.
The total amount destined ascends to 2.25 million eurosof which Caixa Popular has contributed 550,000 euros and the Caja Rural Group, with the creation of a solidarity fund, has contributed 1.70 million euros.
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