Rural Kutxa improved its results last year by 30.5% and signed a profit of 115.2 million euros. The entity attributed this gain to its growth and to an adequate management of delinquency, which, according to what it pointed out in the note in which it reported its annual balance sheet, “has made it possible to promote its effectiveness and efficiency.” He also raised his net worth, which increased by 7.8%, with 1,507 million euros.
The solvency of the Basque bank in terms of ordinary capital, which reflects the level of first category own resources, stood at 20.35%. In this way, it was 1.63 points higher than the previous year, with which Rural Kutxa once again positioned itself among the most solvent entities in the Spanish financial sector.
Likewise, it obtains some of the highest ‘ratings’ in the sector in the classification of the international agencies Fitch and Moody’s. As of December last year, its rating was BBB+ (stable) for Fitch, and Baa1 (stable) for Moody’s.
The entity manages deposits from private sector clients for a value of 10,957 million euros. The total credit in force at the end of the year was 9,336 million euros, which represents 0.42% more than the previous year.
Regarding the delinquency rate at the end of 2022, it was below 2%, specifically 1.99%, similar to that of 2021. A level much lower than that marked by the national average for the financial sector as a whole, which was 3.7%.
Goals for 2023
Rural Kutxa added one more office to its network last year and reached 225, of which 90 are in the Basque Country, and has 956 employees.
In its note, the entity indicates that in its development it is committed to digitization although it remains “faithful to the local and regional model.” For this 2023, its expectations are to improve market shares in all areas where it operates, strengthen solvency and continue to grow. The entity is focused on activities with a positive environmental or social impact, such as the construction or energy renovation of buildings, social housing or sustainable agriculture.