Corporate

The agency notes that the upgrade reflects the enhanced quality of the Group’s assets and its strong capital position

P&L growth and an improvement in credit quality have further strengthened the Group's position based on prudent management, with an increase in provisions and an improvement in solvency and liquidity.

The demand has been in excess of 1,500 million euros, with more than 170 orders from institutional investors.

The profit and loss statement reflects the positive trend in recurring income, the steady improvement in portfolio credit quality and the strengthening of the Group’s solvency and liquidity position

The agency anticipates that Grupo Cooperativo Cajamar will continue to improve its earning capacity, profitability and efficiency, while preserving its asset quality.

The European Investment Bank (EIB) and Grupo Cooperativo Cajamar have signed a purchase agreement of a €350 million covered bond issue. The transaction enables the cooperative bank Cajamar to make up to €784 million in financing available to support investment in projects of small and medium-sized enterprises (SMEs) and mid-caps, especially those operating in rural areas, including those with links to the agri-food sector, and up to €196 million to accelerate the green transition.

An increase in sales activity and continuing improvements in asset quality help further clean up the balance sheet and bolster provisions, while boosting liquidity.

Cajamar Caja Rural has completed the placement of a new issue of 5-year mortgage covered bond, maturing on 16 of February of 2028. The amount of the issue has been 750 million euros and the orders received have surpassed 1,600 million euros, with demand exceeding supply by 2.2 times.

Highlights of the year are the recovery in revenue from the core banking business, the reduction of non-performing assets and the NPL ratio, the strengthening of coverage and provisions, and the improvement in solvency.

The CDP organisation has given Grupo Cooperativo Cajamar an “A” rating for its corporate transparency and climate change performance, one of the few companies to have earned that distinction of the more than 15,000 enterprises rated.