Cajasur’s activity generated an impact of 1,655 million euros in Córdoba in 2023CORDOVA
The corporate and financial activity of Cajasur and Kutxabank in CordovaLast year they generated an impact of 1,655 million euroscontributing directly or indirectly to 10.3% of the total GDP of Cordoba and 11% of employment; and in Andalusia as a whole of 4.3 billion euros, the equivalent of 2.4% of GDP, according to the study carried out by the Center for Economic Predictions (CEPREDE).
As reported by Cajasur in a press release, the annual study has shown, once again, that “Cajasur Bank It’s one of the main drivers of development of the Andalusian economy and the leading service entity.” This is how the CEO of Kutxabank, Eduardo Ruiz de Gordejuela, and of Cajasur, Fernando Martínez-Jorcanorespectively, to those responsible for the public administrations and Cordoba businessmenduring the institutional meeting held today at the bank’s headquarters in the capital of Córdoba.
The mayor of the city participated in the meeting, José María Bellidothe president of the Provincial Council, Salvador Fuentesthe delegate of the Government of the Junta de Andalucía, Adolfo Molinaand the president of CECO and the Chamber of Commerce, Antonio Diaz, and the aforementioned CEOs of Kutxabank and Cajasur, who have also been accompanied by the corporate general directors of Kutxabank Fernando del Hoyo (Wholesale Business), Aitor Aramburu (Retail), respectively, and Jaione Lamy (director of Institutional Banking) and the director of Network of Cordova, Concepción Adame.
During it, the main parameters of the aforementioned report were reported, which shows the outstanding role of the financial entity in the Andalusian productive fabric, with special relevance in Córdoba, while the collaboration and commitment of the financial entity was reviewed. with the great projects and initiatives of Córdoba and the province.
The study highlights the strategic importance of Cajasur and his Group for the province of Cordoba and the Andalusian community, especially in a context of uncertainty due to international tensions and the general rise in prices.
In fact, the report reveals that in 2023 Cajasur allocated 53 million in payments to more than 3,900 suppliers in Andalusia28 million of which correspond to suppliers from Córdoba, with an average payment term of less than 15 days.
Cajasur is also one of the companies with the highest tax contribution in Andalusia, since it pays around 155 million euros in taxes, and helps support more than 1,800 million in revenue in Andalusia.
With a wide network of offices in Andalusia, it maintained more than 1,700 direct jobs, of which more than 200 in rural environments, its corporate and financial activity favoring the maintenance of almost 75,000 direct, indirect and induced jobs.
Your support for the Andalusian administrations also translates into more than 800 million euros granted to them, providing service to some 500 clients of public institutions and companies and offering specific offers to more than 300,000 public officials, with accumulated financing in 2023 of 295 million euros.
Commitment to sustainability
The commitment to sustainability (Environmental, Social and Governance) is part of the way of understanding the banking business of the Kutxabank groupto which it belongs Cajasur. With almost 175 years of history, he is a pioneer in the financial sector in terms of sustainability, preparing an audited report for 17 years. It has been the first financial group to measure the carbon footprint of its activity (2007), with a neutral balance in CO₂ emissions, to issue a social bond (2015) and to sign a long-term agreement for 100% renewable energy (2018 ). It is also the first state manager with all investment funds actively managed under SRI (Socially Responsible Investment) parameters.
Besides, Cajasur Bank reverts part of its profits to society through its foundations, which maintain an annual budget close to five million euros (more than fifty million in the last ten years), participating in more than 250 social and cultural projects in the community Andalusian.
Cajasur has already trained more than 3,700 ESO students in the world of finance, with a specific program in collaboration with schools that pursues financial education before reaching adulthood.
Since arriving in Córdoba, 13 years ago, Kutxabank has made an investment in Cajasur of 1,718 million euros, one of the highest in the history of Córdoba and Andalusia.
Leading company
Cajasur is the leading financial institution in Córdoba, with a market share of 34% in mortgages, 36% in direct debit payrolls, 49% in pensions, 35% in investment funds and a 26% share of self-employed workers.
Cajasur office in Gran Capitan.
Public administrations and businessmen highlight the key role of Cajasur in the Córdoba economy
After the presentation of the report, the mayor of Córdoba, José María Bellido, pointed out that the document provides data that reveals the strategic importance of Cajasur in the productive fabric of Córdoba and, therefore, in Andalusia. “Córdoba needs an alliance with financial entities like Cajasur that invest not only in the economy, but also impact the city through their social work and the development of cultural activities,” he stressed.
In the mayor’s opinion, it is essential for Córdoba to continue advancing public-private collaboration with financial entities that are committed to the development of the city at a particularly decisive moment, a time where the future of the Córdoba that we want for the coming decades is being forged.
For his part, the president of the Provincial Council of CórdobaSalvador Fuentes, has highlighted “the key role of Cajasur for the economic and social development of the province of Córdoba and its commitment to the municipalities. We can be proud of a financial entity that is linked to its environment and collaborates in all the key projects of the province “. He also pointed out that “the data that we have learned today confirms its commitment to quality employment, its financial strength, its social presence and its institutional commitment.”
He Government delegate of the Junta de Andalucía, Adolfo Molina, has pointed out that Cajasur is a bank with great weight in the Andalusian community and that “a whole conglomerate of activities, people and groups moves around it, which gives it a constant presence. This bank, which has grown from Andalusia, has managed to become one of the largest in this country, to which is added that for Córdoba it is key to have a strong entity like this, since its presence contributes to strengthening the message of reliability and the attractiveness that the Andalusian community has for investors and for economic activity.”
He president of CECO and the Official Chamber of Commerce and Industry of Córdoba, Antonio Díazhas meant the importance of having entities like Cajasur when it comes to providing an effective response to the financing needs of companies, helping them to expand and also develop innovative and sustainable projects.
Antonio Díaz has highlighted the value of providing the necessary financing to strengthen and grow in an increasingly competitive market. “It is key that our productive fabric has resources to face challenges such as the digital revolution or the climate transition.” Díaz has highlighted the important role of Cajasur in our territory and its proximity to Córdoba in economic and business life, and in particular the involvement of Cajasur Banco in CECO and the Chamber of Commerce.”
He CEO of Kutxabank, Eduardo Ruiz de Gordejuelahas highlighted “the excellent harmony with public administrations and businessmen, essential for the good functioning and socioeconomic progress of Andalusia, and especially of Córdoba”, while showing the willingness of the financial group “to continue supporting all the initiatives redound to the benefit of society.”
In this sense, Ruiz de Gordejuela recalled the investment of 1,718 million that the Kutxabank group has made since its arrival in Córdoba, “one of the highest in history, a sign of our unequivocal commitment to this land.”
For his part, the CEO of Cajasur, Fernando Martínez-Jorcanohas pointed out that the CEPREDE report “ratifies the leadership of the entity in Córdoba, where we play a key role and Kutxabank’s commitment to Andalusia.”
Martínez-Jorcano explained that the objective of the entity is “to provide quality services to our clients, both individuals and companies, in supporting their financial needs and promoting the development of the values of sustainability.”
