Corporate

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.

Grupo Cooperativo Cajamar has obtained the Leadership category from the international organization Carbon Disclosure Projet (CDP), with an A- assessment that positions it among the leading and most advanced companies for its performance and transparency of its environmental management.

The Group has supported customers affected by the pandemic with new financing and moratoria. Results as of September 30 reflect the solid business evolutions, the decline in the NPL ratio and non-performing loans and the increase in capital, improving the solvency and CET1 ratios.

Grupo Cooperativo Cajamar has received the second best global rating, only behind Rabobank, out of the 378 entities included in the diversified banking sub-industry (retail banking) ranking, granted by Sustainalytics, an international benchmark in the issuance of sustainability rating reports.

The first half of 2020 stands out the business perform well, with efficiency gains, a decrease in the NPL ratio and in non-performing assets and capital levels remaining at comfortable levels, both as measured by the capital adequacy ratio and by the CET1 ratio.

Eduardo Baamonde brought Cajamar's Annual General Assembly to a close at noon today, during which he was re-elected as chairman for another four-year term of office. Baamonde underscored the success and forward-looking vision of the corporate banking model that the bank has been the flagbearer of in Spain for four decades: "We mustn't lose sight of the fact that the banking business is based on trust and trust is only won over time, founded on consistency and coherence between words and action".

For the third month running, Grupo Cajamar's banks will pay state and Social Institute of the Navy pensions early, 22 May, to all customers who have arranged for their pensions to be deposited with Grupo Cajamar. The aim is to help protect the health of the elderly, extending the period at the end of the month when enquires concerning these payments tend to be made and paperwork completed.