Caixa Popular obtained a result of 24 million euros in 2023, which represents an increase of 43% compared to the previous year, after making provisions of 33.4 million euros, deducting taxes and the allocation to the promotion and training fund cooperative.
Likewise, Caixa Popular plans to extend its office network to 80 branches in 2024 with the opening of two offices in Utiel and Buñol during this year, according to a statement.
In the 2023 results, the credit cooperative closed with deposits of 2,903 million euros, an increase of 18%, and loans granted for 1,997 million euros, 3% more, according to the results
The provisions to the insolvency fund, which amounted to 31.40 million, place the total coverage of bad debts at 103.42%, with a bad debt ratio of 3.31%, as reported by the bank.
At the end of the year, the interest margin has reached 88 million euros, showing an increase of 83%, while the gross margin has reached 114 million, with an increase of 53%. The efficiency ratio stood at 42.83%.
Caixa Popular continues with its expansion plan and in the last year it has opened three new offices, located in Bétera, Mercavalencia and Cullera. For 2024, the opening of two more is already planned in the towns of Utiel and Buñol. The bank remembers that its opening hours are from 8:30 a.m. to 5 p.m. without interruption at noon from Monday to Thursday, and on Fridays until 2:30 p.m., and it already has 226,000 customers, 80% Ruralvía ??users, your digital banking.
The entity has created 16 new jobs in the year and in total it has a staff of 419 people, where 85% are working members, and therefore owners of the cooperative.