Corporate

Financial activity, in terms of contribution to public coffers in the form of taxes and Social Security contributions, represents an impact of €3,854.2 million.

Income generation and a paring back of non-performing assets (NPA) contribute to boosting coverage, provisions and solvency.

Grupo Cooperativo Cajamar has received the ‘Top Rated’ distinction that accredits it among the 50 companies with the best global rating for its management of environmental, social and corporate governance (ESG) risks, granted by the Sustainalytics agency after having rated more than 14,000 companies from 42 sectors. In turn, this recognition has allowed it to obtain three differentiating seals that place it as a reference entity at a Global level (ESG Global 50), at a regional level (ESG Regional) -European- and at an industrial level (ESG Industry) -banking industry-.

Revenue generation and a decrease in non-performing assets key to the successful management of the organisation this year, while higher provisions and coverage were set aside and solvency also improved.

Banco de Crédito Social Cooperativo-Grupo Cajamar today placed its first issue of senior preferred debt in a total amount of 500 million euros, maturing in March 2028, with demand reaching 1.6 billion euros. In view of the enthusiastic market reception, the coupon was finally set at 1.75%, lower than originally planned.

Decent business performance and extraordinary transactions in the first half of the year allow group to bolster provisions and coverage, continue to pare back non-performing assets and boost solvency.

Grupo Cooperativo Cajamar has sold a Real Estate Portfolio (REO) composed of 6,000 assets with a total Face Value of c.€500 million to a subsidiary of Cerberus Capital Management, L.P. (“Cerberus”).

Banco de Crédito Social Cooperativo-Grupo Cajamar today issued 600 million euros of subordinated debt maturing in November 2031, with demand exceeding 1.8 billion euros. The issuer is entitled to cancel the issue before maturity, between May and November 2026.

Solid performance in its business fundamentals allows the Group to set aside €512 million —more than its entire gains on financial transactions— to expand coverages, provisions and impairments, and continue paring non-performing assets and strengthening its solvency.

Its balance sheet and income statement at 31 December 2020 point to the business performing better, more lending, a rise in retail funds, a decrease in non-performing assets, a reduction in foreclosed assets, a smaller NPL ratio, higher NPA coverage ratio and greater solvency.