Doubtful assets fell, for the first time in recent years, by more than 150 million euros
The loans formalized to companies by Kutxabank during the past financial year 2015 have grown more than 30%, reaching an overall amount of more than 2,000 million euros. In addition, throughout 2015, a total of 822 new SMEs have entered the client portfolio of Kutxabank Empresas, in such a way that the Bank already serves more than 13,000 companies spread throughout the State geography.
In a statement, Kutxabank stressed that this data is “the confirmation of the positive trend change in the economic and business,” and “is not the only”, since, as noted, for the first time since 2011, the Credit investment balance directed to large corporations and small and medium enterprises “has grown, and with strength, 9.8%.”
In the territories outside Euskadi in which Kutxabank Empresas operates, mainly Barcelona, Madrid and Valencia, this heading has doubled, both in the number of projects and in the amounts financed. Also, for the first time in recent years, there has been a decline in doubtful assets, for a volume close to 150 million euros.
If in 2014 the Basque banking group saw an upward curve in the financing of SMEs’ working capital, the data collected as of December 31, 2015 have confirmed “a promising and growing take-off of financing for productive investments in fixed assets (land or pavilions). industrial) as in machinery and other elements (transport, tooling, equipment for information processes or computer applications) “.
This item registered a year-on-year increase of 55% at the end of December, supported, among other measures, by the third edition of the ‘Makina Berria 2015’ plan, agreed with Basque employers.
Outside of the Basque Autonomous Community, the equivalent of this program, baptized as ‘Kutxabank Renove’, has been “decisive” in the growth of 20% in credit investment balances (Barcelona, 36%, Valencia, 18%, and Madrid , 9%).
Evolution of billing
Kutxabank Empresas -division banking that serves medium and small business firms with annual billings of more than 600,000 euros- argues that the “significant” change in the rise of fixed assets of 55%, has been accompanied in the same period by a sustained growth of the amounts for the financing of the national currency, 19%; of the international currency, 25%; as well as operations with guarantees, 52%; or leasing that doubles the number of operations with an increase of 92%.
In the section of financing formalized with SMEs by Kutxabank in 2015, the growth of the commercial discount stood out, with 25.4% and the financing of foreign trade, with 30%.
As the Banking Group recalled, the Basque Chambers of Commerce and Kutxabank launched the first
Throughout 2015, a total of 822 new SMEs have entered the customer portfolio of Kutxabank Empresas, in such a way that the Bank already serves more than 13,000 companies spread throughout the State geography. In Euskadi, about seven out of ten companies work with Kutxabank.
Kutxabank has maintained in this way the “good rate of recruitment” of small and medium-sized firms, which in 2014 amounted to a thousand new SMEs.TO COMPETE
For the CEO of Kutxabank, Javier García Lurueña, the data harvested in 2015 confirm that the productive and business sector of Euskadi “comes out decisively” from the long tunnel of the global economic crisis. “I think I’m not wrong to say,” he added, “that we are facing a positive trend change in the sector and, in general, in the economic sphere.”
“All the indicators point to a notable improvement in business confidence in the Basque Country and, according to Eustat data, the cumulative increase in industrial production in the Basque Country was 3.5% at the end of December, more than two percentage points above the increase of 2014, “he stressed.