AgroBank closed the first half of 2024 with financing for the entire agri-food chain totalling €14,826 million, 4.1% more than in the same period last year. CaixaBank's business line specialising in the agri-food sector accompanies its customers through more than 1,140 specialised branches distributed throughout Spain, with a presence in all provinces, especially in rural municipalities.
AgroBank's business model is also implemented thanks to more than 3,000 specialised managers, professionals trained in the needs and specificities of the sector, with specific knowledge depending on the type of crop, livestock or fishing activity of each population.
In addition, risk teams specialise in their catchment areas, so that they have an in-depth understanding of their clients' needs and financial flows. As a result, one in two farmers and livestock breeders in Spain works with AgroBank.
AgroBank’s director, Jaime Campos, explained that "these very good financing figures reflect the bank's commitment to the rural world, not only from a financial point of view, but also from a social and innovation standpoint". The agricultural sector and the food chain are fundamental to the Spanish economy, and to promote their competitiveness, efficiency and sustainability CaixaBank has a large team of managers and a specialised value proposition that covers the needs of all its customers, as well as accompanying them in the necessary transformation process".
Platform for the transformation of the sector
Among AgroBank's main milestones in the first half of 2024 is the launch of a digital platform for both customers and non-customers that aims to contribute to the transformation of Spain's countryside, promoting innovation, sustainability and strengthening communication between the sector's various agents.
AgroBank Hub is conceived as an ecosystem that seeks to transform the way in which the bank's customers and non-customers interact with the agri-food sector and become a meeting point and benchmark for all agents.
Thus, integrating four vertical areas into a single platform: current, providing reliable and verified information to the country's agricultural sector; an environment of solutions for optimum decision making via tools and simulators; a marketplace with specialised products and services; and, lastly, a community that aims to contribute to the transformation of the sector.
AgroBank Hub will soon be adding new solutions, such as the water footprint for measuring and improving the environmental impact of activity and weather reports. Furthermore, the marketplace will include additional products, such as security systems, satellite or sensory imagery.
CAP advance
In addition, just like every year, the CAP 2024 campaign was launched in the first half of the year to facilitate the processing of and bring forward the amount of aid, which has allowed farmers and livestock breeders to have access to the funds in advance.
To facilitate and speed up handling these loans and aid, AgroBank has made €7 billion in pre-approved financing available to its customers.
As a complement to the CAP 2024 campaign, AgroBank has a complete catalogue of insurance policies to cover any type of adversity, including Agrarian Insurance and Multi-risk insurance policies adapted to each crop and livestock. AgroBank is the leading bank in agricultural insurance and reinforces its commitment to the sector to ensure peace of mind for its farmers and livestock breeders.
Commitment to innovation and the rural environment
AgroBank believes that one of the main challenges the sector is facing is generational renewal. For this reason, it has launched the 'Impulso Agro' initiative together with the Basque Culinary Center. This initiative is aimed at raising the awareness of young people who, by means of their work and projects, are contributing to the transformation of the Spanish agri-food sector.
Similarly, AgroBank supports the role of rural women through various initiatives, including the mentoring programme 'Crecemos Juntas' (We Grow Together) in collaboration with the Ministry of Agriculture, the Chair 'Women, Business and the Rural World' with the University of Castilla-La Mancha (UCLM) and AgroBank's collaboration with the main rural women's associations in Spain (Afammer, Fademur and Amcae), through which the bank offers all its members a wide range of specific financial products and services to help them realise their projects.
Furthermore, the entity has a strong commitment to sustainability and the digitalisation of the sector, with the goal of driving its transformation. With this in mind, it has launched the second edition of ‘AgroBank Tech Digital INNovation’, an acceleration programme for start-ups in the agri-food sector. With this initiative, the bank is positioned as the main benchmark for offering the sector technological solutions.
This is joined by the Chair 'Quality and Innovation in the agri-food sector' and AgroBank and the University of Lleida (UdL), which aims to provide society with new tools to promote quality and innovation in the agri-food sector.
