Roadmap to Strengthen Financial Inclusion in Rural Areas

This document signifies the agreement of the representatives of the Spanish Banking Association (AEB), CECA, and the Spanish Union of Cooperative Credit (Unacc) to update the action principle number 5 of the Strategic Protocol to Strengthen the Social and Sustainable Commitment of Banking regarding the measures to promote financial inclusion by incorporating the following wording.

The associations, and thus the entities that are part of them, express their firm commitment to successfully implement these solutions until the objectives are achieved.

The Spanish banking sector is committed to financial inclusion, which is reflected in extensive access points to our services as demonstrated by the international comparison. In fact, Spain is the third country in the European Union with the highest number of offices per 1,000 inhabitants in the EU. Additionally, multiple initiatives have been deployed to reinforce access points that complement the extensive map of offices present in the country. In line with this commitment, we present a roadmap aimed at ensuring adequate provision of face-to-face financial services for 100% of the territory, also protecting those municipalities at risk of exclusion. Currently, the percentage of the population without access to face-to-face financial services —bank offices, ATMs, postal access points, financial agents, or mobile offices— is 1.4% (around 660,000 people), affecting a significant number of municipalities in our country. Moreover, there is also a high number of rural municipalities where there is only one source of cash, affecting another 1.2% of the total population (around 560,000 people).

The banking sector has promoted the creation of a map on financial inclusion in Spain, developed by the Valencian Institute for Economic Research (IVIE). The Report on Financial Inclusion in Spain serves as a tool for analyzing accessibility to banking services in Spain, with the aim of conducting a diagnosis to help identify needs and determine solutions. The Roadmap to Strengthen Financial Inclusion in Rural Areas includes the tracking of measures and updates on access to banking services in Spanish municipalities, which can be found in the relevant section of the Financial Inclusion Observatory.