Bridging gaps: CaixaBank's pioneering efforts in Spanish financial inclusion

ESG
27/01/2024 News

In a commitment to financial inclusion, CaixaBank has expanded its services to nearly 500 new towns in rural Spain over the past two years. This initiative, utilizing ATMs and mobile branches, targets areas lacking previous face-to-face banking access. Impressively, 90 of these towns were identified in the "Report on Financial Inclusion in Spain," emphasizing the bank's focus on areas with over 500 inhabitants in need.

Aligned with the roadmap established by banking associations AEB, CECA, and UNACC, CaixaBank's dedication extends beyond initial goals. The bank covers almost 40% of the towns and villages identified in the report, surpassing expectations by extending services to an additional 394 municipalities, reaching a total of 484 new rural areas by 2023.

CaixaBank, Spain's foremost financial institution, boasts the country's most extensive network, with close to 4,000 branches across over 2,230 municipalities. This commitment ensures accessibility in 483 municipalities, emphasizing a pledge not to abandon essential banking services. Concurrently, the bank's mobile branches have seen a remarkable 23% growth, covering 783 rural towns at the start of 2024.

The bank's mobile branch service, up by 82% since 2021, facilitates common banking transactions for users in locations without a bank branch or with access restrictions. Additionally, CaixaBank extends its reach through ATMs, serving nearly 300 rural populations.

In summary, CaixaBank's groundbreaking efforts in Spanish financial inclusion bridge critical gaps, providing essential services to previously underserved communities.

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