Eurocaja Rural Approves 2024 Accounts, Strengthening Financial Leadership and Social Commitment

Eurocaja Rural held its Ordinary General Assembly this afternoon in Toledo, where delegates present at the financial entity's Congress Palace unanimously ratified the Annual Accounts and Management Report for the 2024 fiscal year. This marks the best moment in the entity's history, coinciding with the 60th anniversary of its founding.

In addition to setting the main lines of the Caja's general policy, the participation of over 80% of the share capital represented at the Assembly reaffirms Eurocaja Rural's democratic strength, characteristic of a highly participatory cooperative model by its delegate members.

The president of Eurocaja Rural, Javier López Martín, opened the Assembly by highlighting the six decades of the Caja's trajectory as a symbol of perseverance, evolution, and territorial roots. He stated that the credit cooperative is today the result of a history of overcoming challenges, "based on firm values and a deep service vocation, always seeking excellence in relationships with its members and clients, as well as with the people living in the territories where it operates. A solid entity experiencing its best historical moment."

During his speech, he emphasized Eurocaja Rural's leadership as an economic development engine and social cohesion, and its commitment to territorial expansion, generating employment and combating financial exclusion. Contrary to the trend of closures and mergers in the sector, he highlighted that the Caja bets on proximity, maintaining offices and personalized attention.

He noted that in 2024, Eurocaja Rural opened new offices in small towns such as Cubillos del Sil (León), Casarrubuelos (Madrid), Puerto Lápice (Ciudad Real), or Almazán (Soria), and strengthened its presence in major urban centers like Madrid, Valencia, Soria, Zamora, Salamanca, or Logroño. In this regard, he publicly congratulated "the commendable work done by our general director, Víctor Manuel Martín López, perfectly supported by the Management Committee and the commitment and support of the entire staff, ensuring financial service accessibility to more than 25 million people."

In the social sphere, he highlighted the role of the Eurocaja Rural Foundation and the Education and Promotion Fund (F.E.P.), which allocated 6.52 million euros in 2024 to research projects, rural development, culture, heritage conservation, or innovation, support for vulnerable groups, and training for seniors, SMEs, and freelancers, among others. He also highlighted the awarding of the Corporate Good Governance 2.0 certificate to Eurocaja Rural by AENOR with the highest rating (G++), being the first and only non-listed company to obtain this certification so far, and the entity's commitment to equal opportunities, diversity, and sustainability.

"Willpower can achieve anything," the president recalled, alluding to one of the Caja's first advertising campaigns in the 1960s, concluding his speech by reaffirming that "the true success of Eurocaja Rural is not only measured by results or recognitions but by having the trust of the clients. It is very rewarding to be part of their personal and business projects and to know that we are an important support for the viability and profitability of their businesses."

The general director of Eurocaja Rural, Víctor Manuel Martín López, valued in his speech the 60 years of the entity's trajectory, from its humble beginnings to becoming a national benchmark, as a symbol of growth, legacy, and commitment. "A collective project that prioritizes adding value for people and the territory that unites us, and fortunately, it is growing larger," he asserted.

In this regard, he referred to the Expansion Plan undertaken and the prevailing business model in the entity. "A carefully planned and meticulously executed process. From its inception, this project has been approached with responsibility and long-term vision, allowing us to achieve the planned objectives with solvency and efficiency. Eurocaja Rural is now present in 22 provinces across 8 autonomous communities, with 487 offices currently, many in small towns where it is the only physical entity. In 2024, 24 new offices were opened, and 195 new clients were acquired daily, reaching over half a million clients. A banking model based on proximity, human treatment, professionalism, and face-to-face attention complemented by digital channels."

Martín López highlighted as one of the key axes of Eurocaja Rural's strategy for 2025 the strengthening of its technological infrastructures, especially in cybersecurity, to protect information and prevent fraud, while emphasizing as a distinctive feature the human service and close attention that mark the entity's daily operations. "I thank the professionals of the Eurocaja Rural Economic Group for their commitment and dedication, and the Board of Directors and Management Committee for the work they perform daily with professionalism and responsibility, because the results obtained in 2024 are the result of a rigorously planned strategy and continuous and joint work. Eurocaja Rural is an entity of present and future, where the banking that clients want and others desire is done."

After analyzing the macroeconomic context of 2024, characterized by a 3% growth due to the moderation of inflation and more flexible monetary policies, and the increase in Spain's GDP by 3.2% driven by the strength of household consumption, the dynamism of the tourism sector, and the good performance of investment, the general director conducted a detailed analysis of the entity's balance sheet, highlighting the business volume, which reached 14.449 billion euros, representing a 13.61% growth compared to 2023; the credit investment, which amounted to 5.708 billion euros (9.16% higher than 2023), with over 21,000 new operations granted, maintaining high risk control standards, achieving a delinquency rate of 1.62%, well below the sector average (3.32%).

He also referred to the record figure of client-managed resources, "which reached 8.741 billion euros (16.71% more than in 2024), a clear indicator of our clients' trust" and to "the excellent liquidity position of the entity, which closed the fiscal year with 2.359 billion euros, providing us with flexibility to undertake new investments and promote projects throughout our area of operation."

Regarding solvency indicators, he noted that the volume of equity amounted to 783 million euros, of which 768 correspond to the highest quality CET1 capital. "This level of own resources places the CET1 capital ratio at 20.10%, representing an increase of 190 basis points compared to the previous year," he stated.

Regarding the income statement, he emphasized "the recurring and sustainable generation" of the same "which allows us to strengthen the equity and provide long-term stability. The net profit reached 116 million euros, a record figure. Operational efficiency stood at 39.84%, improving by 29 basis points compared to 2024 thanks to cost control and responsible resource use. All this positions Eurocaja Rural as a solid, prudent, and profitable benchmark within the cooperative financial system."

The day concludes with the traditional Brotherhood Dinner at the Beatriz Hotel in Toledo, attended by members and employees; institutional authorities; business organization leaders; financial sector; State Security Forces and Corps; Army; Justice Administration; Catholic Church; cooperative sector; agricultural organizations; Designations of Origin; NGOs; Professional Associations; Public Administrations and media, among others.