Corporate

Luis Rodríguez, chairman of Banco de Crédito Social Cooperativo-Grupo Cajamar, said today that the United Nation Environment Programme's Principles for Responsible Banking are in line with the business model and ethical management system of the Grupo Cooperativo Cajamar.

Solvency and asset quality have improved over the last year, as have business fundamentals and efficiency and recurring net income before provisions deriving from higher net interest income and lower administrative expenses

The EIB Group, BCC-Grupo Cajamar and ICO are joining forces to ensure that SMEs working in rural areas and agri-food companies can access the credit they need to invest

Lending up 10.4%, especially to companies, the self-employed and the agri-food sector in the first nine months of the year than in the same period of the previous year

Assets under management have increased, while non-performing assets and non-performing loans have decreased

Grupo Cooperativo Cajamar has sold a portfolio of 1,222 business loans with mortgage collateral, in the amount of approximately 308 million euros, to Link Financial Group. Grupo Cajamar continues to increase sales of distressed assets and to reduce non-performing assets, which at the end of the first quarter of 2018 are down 3 percentage points year-on-year.

Cajamar Caja Rural has completed the placing of a new issue of five-year mortgage covered bonds maturing on 18 June 2023. With an issue amount of 500 million euros and orders totalling close to 950 million euros, the offer was 1.8 times oversubscribed.

The volume of new lending – mainly to the agri-food sector, small and medium-sized enterprises and the self-employed – is up 12%, and the increase g year-on-year in performing loans is up 4.2% at 1.141.million euros in the first quarter of 2018 to 28.413 million euros.

Thanks to the commercial strategy pursued during 2017, Grupo Cooperativo Cajamar has been able to attract more customers, boost customer loyalty, grant more credit, grow the volume of managed customer funds and continue to gain market share. New lending grows 32%, mainly in the agrifood , SME and self-employed segments.

In recent weeks it sold two portfolios, one of foreclosed properties and another of defaulted loans, bringing the volume of problem assets sold in the year to date to 791 million euros.