CaixaBank supports the Canarian hotel sector with 166 million euros in financing during the first half of the year

Juan Ramón Fuertes, territorial director of CaixaBank Canarias

The number of new production represents a growth of 240% compared to the same period of the previous year

CaixaBank Hotels & Tourism, the business line with which the entity leads the tourism market through a model of specialization and proximity to companies and businesses in the sector, has granted a total of 166 million euros of credit to the hotel sector and tourist accommodation in the Canary Islands during the first six months of the year. This figure for new financing represents a growth of 240% compared to the same period of the previous year.

During the first half of the year, CaixaBank Hotels & Tourism has carried out a total of 113 credit granting operations in the archipelago, 30% more than in the first half of 2021. In Spain as a whole, CaixaBank has granted 1,800 million euros through 1,300 credit operations, the highest number of new financing that the entity has allocated to the sector in a single semester. The financial entity currently has a total loan portfolio for the hotel sector of 8,300 million euros.

This volume of credit once again demonstrates CaixaBank's confidence in the tourism sector and the bank's firm commitment to continue being a key player in promoting the sector, facilitating the granting of credit and supporting its specific needs. Support for the sector is also articulated through the management of access to the European Funds for Recovery (Next Generation EU). With the aim of being an active agent in disseminating available aid and speeding up its arrival to beneficiaries, CaixaBank offers
an aid search engine to facilitate access to these funds for clients and non-clients.

This search engine allows you to consult the existing options depending on the beneficiary, economic sector of the recipient, type of aid, call and province. Access to this digital platform, which has been developed by Minsait (Indra group), can be done from CaixaBankNow, the bank's digital platform, and through the CaixaBank Business and CaixaBank Business web portals.

Specialized service to meet the needs of the sector

CaixaBank Hotels & Tourism has more than 11,800 clients in the tourist accommodation sector and is positioned as a benchmark for this segment of companies with the capacity to detect the needs of the sector and support it with the personalized service it requires through a team of more than 30 professionals specialized in the hotel market and more than 1,500 advisers from CaixaBank Empresas. Through this specialized division, CaixaBank provides the hotel market with a range of differential products and services to help optimize the profitability of its business and simplify its daily activity, taking into account the needs of the different subsectors: hotels, tourist accommodation and campsites.

In addition, CaixaBank Hotels & Tourism is especially sensitive to sustainable projects, such as those that incorporate improvements in energy efficiency, accessibility, water and waste management, or that promote the employment of people at risk of exclusion. The financial institution, within the framework of the new Strategic Plan 2022-2024, establishes as a strategic priority to be a benchmark in Europe in sustainability, for which it has set the objective of mobilizing 64,000 million euros in sustainable finance that promotes the sustainable transition of companies and society. In this sense, CaixaBank stands out for its responsible action and is recognized as such by the main international organizations. The Dow Jones Sustainability Index places it among the best global banks in terms of sustainability.

Hotels & Tourism has agreements with more than 40 hotel federations and associations, and regularly organizes meetings with leading businessmen in the sector throughout the Spanish geography. The financial entity also participates in the main international tourism fairs (Fitur, WTM, ITB) and in the most relevant sectoral events held in our country (Exceltur, Foro Hosteltur, TIS). In addition, CaixaBank is a member of the World Tourism Organization, the United Nations body responsible for promoting responsible, sustainable and accessible tourism for all.