MicroBank doubles in two years the volume of financing with social impact and exceeds 2,000 million euros in 2024

• The number of operations was 233,603 last year, which represents a 61.7% increase with respect to 2023
• The amount earmarked to support vulnerable families grew 63% to €1,405 million in 2024, representing 68% of the total volume financed by MicroBank
• CaixaBank's social bank granted 23,253 microcredits for the start-up or consolidation of businesses worth 317.3 million euros last year, representing an increase of 25.2%
• MicroBank's specific lines for sectors with a social impact contributed to the realisation of 8,963 projects in Spain for €343.5 million
• Skills & Education student loans double the funding volume in 2024 to 1,653 operations

MicroBank, CaixaBank's social bank, exceeded €2,000 million in financing with a social impact in 2024. Specifically, the year ended with the formalisation of 233,603 transactions worth EUR 2,066 million, figures representing increases of 61.7% and 49.3%, respectively. In two years, the company has more than doubled its production and operations volume, since at the close of the year corresponding to 2022 the milestone of 1,000 million euros in financing was reached (1,016 million euros) and the one hundred thousand operations (100,323).

The activity segment that experienced the greatest growth in 2024 is linked to financing to support vulnerable families. In this respect, MicroBank granted 201,387 microcredits (up 69.6%), for an overall amount of EUR 1,405.6 million, representing a 63% increase on the previous year.

The average amount of microcredits for households, intended to meet occasional needs, amounted to EUR 6,980.

Another of the bank's main areas of activity, microcredits for the start-up and consolidation of small businesses, also saw significant growth. MicroBank granted a total of 23,253 microcredits in Spain last year, 20.7% more than in 2023. The volume of financing in this segment contributed by MicroBank increased by 25.2%, to EUR 317.3 million. The average amount of microcredits for businesses was €13,646 in 2024.

MicroBank's third major area of activity, the one relating to specific lines for sectors with a social impact, contributed to the implementation of 8,963 social economy, education, health, entrepreneurship and innovation projects in 2024, up 38.9%. In total, the volume of financing stood at €343.6 million, up 28.3% on the previous year.

Success of the Skills & Education loan

In this section, in 2024 the line linked to education emerged, which registered a growth of production of 25.4% in good part as a result of the acceptance of the Skills & Education loans, linked to education and improvement of skills both for students and for companies. In the case of the student line, the volume of financing granted doubled, to €15.4 million, and the number of operations increased by 62.2%, to €1,653. In the business segment, Skills & Education reached €26.3 million, with 196 loans.

A benchmark in Spain and Europe

we close the year 2024 with some data that, one more year, consolidate MicroBank as the top benchmark in financing with social impact in Spain and in Europe, explains Cristina González, General Manager of MicroBank. coinciding with the closure of our Strategic Plan, we have experienced a major growth in the microcredits chapter, which has been in parallel with the boost of the activity of new financing lines linked to sectors that generate social impact, with a particularly positive reception in the field of education, he added.

For his part, Juan Carlos Gallego, chairman of MicroBank, underlines: the scope of MicroBank's activity is increasing and it plays a decisive role in creating wealth and well-being in the territory through projects linked to employment, health, education and the social economy. our objective as a social bank is to continue contributing to changing lives and helping more and more people through a business model that is both unique and successful, he added.

Sustainable Banking

MicroBank responds to different segments of the population whose financial needs are not sufficiently covered. Has a decisive role in the Sustainable Banking Plan, part of CaixaBank's Strategic Plan, in which it is entrusted with the mission of promoting financial inclusion, providing access to credit to the most vulnerable groups, as well as strengthening its commitment to the Socio-economic Development of the territory.

As the sole shareholder of MicroBank, CaixaBank has supported its social bank since its inception, providing it with the necessary financing for the growth of its lending activity and marketing its products through CaixaBank's extensive commercial network to offer the customer the full range of options with the highest possible quality of service and proximity.

In addition, more than 250 entities throughout Spain actively collaborate in the granting of microcredits, providing knowledge of the persons receiving the loans, as well as advising and monitoring the projects.

MicroBank is also supported by the main European institutions dedicated to promoting entrepreneurship and microfinance. The European Investment Fund (EIF), the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB).