• The economic impact generated on the Spanish economy as a result of its corporate activity and the financing provided reached 29,983 million euros in 2019
  • 22 million euros were allocated to social investments, which represents 4% of the company's attributed profit
  • During 2019, the entity contributed 22,704 million euros in financing to individuals, companies, SMEs and self-employed workers, which generated an indirect and induced impact of 26,168 million euros

Bankia's activity during 2019 had a positive impact of 29,983 million euros on the growth of the Spanish economy, representing 2.4% of GDP. This is indicated in the report 'The Impact of Bankia on the Economy and Society 2019', which has been prepared by the specialist firm Valora Consultores.

In terms of financing, loans and credits granted to individuals, self-employed workers, SMEs and other companies totalled 22,704 million euros, which generated an impact on the Spanish economy of 26,168 million euros. In 2019, of the total loans and credits granted, 2,937 million were allocated to housing; 2,725 to consumer loans for individuals and self-employed workers; and 17,042 million euros to business activities, including 12,629 million to large companies and 727 million to developers.

Regarding employment, Bankia contributed to the creation of 403,245 jobs, of which 55,688 were generated through its activity (direct employees, suppliers, social investments, etc.) and 347,557, through the financing granted.

In addition, the bank allocated 617 million euros to pay suppliers, with an average payment period of 9.44 days, the lowest one of all the financial institutions on the IBEX-35, with the aim of favouring liquidity and access to financing for customers.

Likewise, the entity chaired by José Ignacio Goirigolzarri had a direct and indirect impact throughout its value chain. This positive economic impact generated directly and derived from its activity through tax contribution, dividend distribution, payment of salaries, purchases from suppliers and investment in company shares, amounted to 2,222 million euros in 2019. The total impact derived from direct and indirect activity amounted to 3,815 million euros.

Within the scope of the contribution to society, the financial institution has directly contributed 22 million euros for the development of communities, 4% of the attributed profit, highlighting the more than 6 million allocated to local and rural development projects.

Bankia's response to the Covid-19 pandemic

During the past year, the social and health crisis generated by the Covid-19 pandemic has established itself as the biggest challenge to face. Bankia has been there for its customers and professionals through preventive measures that are specific to the particular needs of families and companies.

In this regard, during 2020, self-employed workers, SMEs and companies were granted close to 11,000 million euros in loans backed by the ICO guarantee and 49,000 mortgage deferrals and more than 61,500 deferrals on consumer loans were formalised.

In addition, Bankia has offered numerous solutions to SMEs and self-employed workers in addition to the measures established by the Government, to which the bank has provided access.

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Bankia SA published this content on 04 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2021 17:30:05 UTC.