2023-05-16 17:30:28
The Caja Rural del Sur closed 2022 with a profit before taxes of 83.8 million, which represents a growth of 15.5% compared to the previous year, and the consolidated business volume totaled 15,249 million, 7.4% more , with a rise of 11.7% in credit investment to 6,803 million.
The General Assembly of Members of Caja Rural del Sur has unanimously approved this Tuesday the annual accounts presented, it has reported in a statement.
By activity segments, the entity showed growth in home mortgage loans of 8.6% to 3,175 million, and financing for SMEs and the self-employed experienced a strong increase of 11.6%, reaching 1,894 million of euros.
From this lending activity to Rural Bank of the South one of the main sectors continues to be agri-food, to which it allocated 898 million euros of financing, the entity with a presence in Huelva, Seville, Córdoba, Cádiz, Almería and Málaga has highlighted.
The president of Caja Rural del Sur, José Luis García-Palacios, has maintained that the results obtained in 2022 “consolidate the model of local financial services promoted in recent years, reaching a position of strength, solvency and robustness that places the entity as one of the main ones in the country in the sector of credit cooperatives of the Spanish financial sector”.
After congratulating the entire team of the entity, made up of 1,060 employees, he has influenced the solvency of the traditional business model of Caja Rural del Sur “as it is based on the proximity of the service and its investments and the deep knowledge of these, Therefore, its activity is far from a type of bank with interests in other types of global financial markets”.
According to the management report, Caja Rural del Sur allocated 90% of its available surplus to reserves, which represents 61 million euros, thus reinforcing its financial strength, 13% more than the previous year.
Likewise, it has solid financial ratios and the highest coverage rate in the sector and a lower delinquency ratio, highlighted the entity, which has more than 800,000 clients and 136,675 partners.
#Caja #Rural #del #Sur #increased #profits