It is surely no coincidence that, in the current circumstances, the first initiative by a financial institution to ease the mortgage burden on the most vulnerable families came from Caixabank. The economic vice president, Nadia Calvino, hopes that the bank will make a move and put on the table a “catalogue” of initiatives that shows the commitment of the entities to facilitate the payment of mortgages to the most vulnerable families in a context of vertiginous growth of the Euribor, which has tripled so far this year. The presiding entity Ignacio Goirigolzarri is the only one on whose board of directors the State is represented -as a shareholder from the former the bank and surely it is no coincidence that Caixabank was precisely the first to break the ice with a proposal to freeze the credit installments of said group for 12 months (and postpone their payment at the end of the life of the loan).
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It wouldn’t be the first time Calvino take advantage of the status of the state as Caixabank’s second shareholder to assert a government opinion regarding the financial sector. It already happened in April 2021, when the vice president set out to stop the salary increase of bank managers and minimize the scope of the ERE that Caixabank had announced.
If the escalation of mortgages continues at the same rate, soon the percentage of financially vulnerable families, understood as those who dedicate more than 40% of their gross income to paying debts, will reach 14%, the governor of the Bank has warned. from Spain, Pablo Hernandez de Cos, in the Congress of Deputies. It is a warning that calls for action. Once Caixabank has broken the ice, Economy now hopes that other entities will come after in order to make up the ‘catalogue’ of good practice measures that Calviño hopes to be able to package soon.