The ordinary General Assembly of delegates re-elected Urbano Caballo as president of the entity
MERIDA, May 24. (EUROPE PRESS) -
Caja Rural de Extremadura obtained a net profit of 14 million euros in 2022, 9.9 percent more than the previous year, according to the income statement approved by the ordinary General Assembly of delegates, in which re-elected Urbano Caballo as president of the entity with more than 99 percent of the votes.
The growth of the positive result of the Savings Bank is backed by an increase of 8.7 percent in credit investment, which reaches 1,552.9 million euros. "In a context of inflationary tension and tightening of monetary policy, the entity has continued to bet on maintaining its strategy of facilitating investment to the productive sectors and to the citizens of Extremadura", Caja Rural de Extremadura pointed out in a press release.
The entity has increased its business volume by more than 230 million and has granted more than 6,000 asset operations, for an amount that exceeds 350 million euros in loans to SMEs, the self-employed and individuals, thus contributing to the "financing of projects" and "promoting the economic reactivation and growth of the region".
"The excellent work of the entire team of the entity has allowed the volume of customer deposits to increase by 5.1 percent, up to 1,815.4 million euros. In this way, Caja Rural de Extremadura once again improves its position in regional market share, which stands at 8.3 percent, with more than 148,000 customers", stressed Caja Rural de Extremadura.
For yet another year, the credit union has continued to reinforce its financial stability indicators, such as "guarantee of viability and future". The delinquency rate has dropped to 2.79 percent, below the average for the sector (3.54%), while the entity's solvency level has stood at 16 percent, a figure that is over 412 basis points what is legally required, and the liquidity ratio has reached 189.2 percent, almost double the requirement and ten points above the average for the financial sector.
Despite the fact that the financial sector has continued to reduce its territorial presence, Caja Rural de Extremadura closed 2022 as the leader in the number of operational offices in the region, with a total of 109. In order to continue offering a "close and personalized" service , the entity has fully maintained its branch network, in line with its commitment to avoid financial exclusion in rural areas and to provide face-to-face care "essential for the elderly".
To meet its social objectives, Caja Rural de Extremadura is going to allocate 2.4 million euros of its profits to the Education and Promotion Fund. Last year, through this Fund, the entity responded to around 700 requests for collaboration of a social nature, mainly non-governmental and non-profit organizations that support the most disadvantaged, but also for cultural, sports or projects to promote cooperatives and the best products from the community.
The General Assembly has also agreed on the re-election of Urbano Caballo as president and the appointment of four members of the Governing Council. The businesswoman and president of the Professional Association of Farmers and Ranchers of Don Benito and Comarca, Natalia García-Camacho, and the economist Álvaro Vicente Doblas, who was already a member of the Control Commission of the Fund, are incorporated as new regular members.
In addition, Rosa María Escobar, a professor at the University of Extremadura and the president of the Siruela Livestock Cooperative, Valentín Nieto, renew their positions. The new employee representative on the Governing Council will be Martín Fariñas.
As alternate members, the president of the Ribera del Guadiana Denomination of Origin, María Luisa Regaña; the president of the Extremadura Red Cross, Jesús Palo; and Fernando Garcia-Moreno.
The president of Caja Rural de Extremadura, Urbano Caballo, thanked the trust placed by the partners and stressed that the positive evolution of the business indicators, especially in a very turbulent year from an economic point of view, "demonstrates the good work and the commitment of the staff of the Fund".
In addition, he reiterated that the entity will maintain its "close and personal banking" model and its objective of being "the reference entity for cooperatives, designations of origin and the entire agri-food sector in the region."
For his part, the general director of Caja Rural de Extremadura, Juan Palacios, gave an account of the entity's 2022 management report, as well as presented the 2023-2025 Strategic Plan to the General Assembly, which among its initiatives proposes a commercial expansion plan, aimed both at reaching new customer segments and increasing territorial presence with the opening of new offices in the community.