“In credits you don’t just have to see if it will be returned”

“In credits you don’t just have to see if it will be returned”
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The CEO of Caixabank, Gonzalo Gortázar, acknowledged yesterday in Valencia that banking activity is not measured solely by economic factors and that The DNA of the entity makes it especially sensitive in the event of catastrophes while environmental policies have added additional factors when granting or not granting financing.

Questioned by Economía Digital about whether, apart from the legal analysis, financing such as that of the building that ended up burned after the of the building in the Campanar neighborhood in Valencia, where 10 people died, were morally acceptable, Gortazar assured that in the financing They must also be analyzed from “the environmental point.”

The analysis, therefore, refers to the fact that “in credits it is not only necessary to see whether it will be returned or not, but also. Furthermore, depending on whether certain regulations are not complied with or if a certain good practice is applied payment is more possible or not. For this reason, Gortázar explained, at Caixabank they also analyze aspects such as the carbon emissions generated by each business activity in which they participate as a financier.

Specifically regarding the Campanar fire, Gortázar noted: “First of all, I would like to express my solidarity with the people who have lost their homes and who have gone through a very complex situation. In the Campanar fire, I think that The response to the Valencian public authorities was exemplary and the solidarity of society and of which I am very happy. “We, as entities, made ourselves available to our clients to help with anything even though we had a very low participation (only in one home).”

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Expanding the reflection on the entity’s actions in disasters, Gortázar assured that “many times, in collaboration with the La Caixa Foundation, we are the entity that systematically, every time there is a problem that something happens, the eruption of the La Palma volcano, earthquakes, or floods It takes us less than 24 hours to offer programs to our clients«.

Among the actions that are activated more quickly are mainly covering debts and facilitating and advancing insurance collection, although the amounts in the event of catastrophes correspond to the insurance compensation consortium, explained the CEO of Caixabank.

Gortázar pointed out that “we would like to do more” in this field since “our DNA is to be someone different in that aspect.” Another example that the Caixabank manager gave were social bonds, “which are precisely backed by loans that we grant for this type of housing assistance purpose.” “We have the largest volume of social bonds issued by European banks, which means that we have carried out our activity as standard since its inception and specifically in housing investment plans,” Gortazar pointed out.

Previously, during the presentation of results for the first quarter of the year, the CEO of Caixabank had highlighted that the entity with headquarters in Valencia is “a leader in sustainable financing in Europe” and that in the first quarter of 2024 it had already mobilized 58.7 billion euros in this type of loans (compared to 50,800 at the end of 2023) while the objective for the end of the year is to reach 64,000 million euros in sustainable financing.

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