The Montes de Piedad Closed 2016 with a Portfolio of Over 300,000 Active Loans Valued at More Than 193 Million Euros

The Montes de Piedad Closed 2016 with a Portfolio of Over 300,000 Active Loans Valued at More Than 193 Million Euros

For 2017, they maintain the challenge of reaching out to younger audiences and enhancing their services in custody, appraisals, and inheritances to improve customer service.

100% of the profits obtained by the Montes de Piedad are reinvested in society through the Social Work of the foundations.

The Montes de Piedad closed the previous year, 2016, with a portfolio of over 300,000 active loans, amounting to more than 193 million euros. This is just one of the figures revealed in the Annual Activity Report of the Montes de Piedad for 2016 prepared by CECA.

The report also notes that last year the average operation was 635 euros, an increase of 4.3% compared to the average of 2015.

  • 63% of the operations did not exceed 600 euros.
  • 8% exceeded 1,500 euros.
  • Only 1.5% were greater than 3,000 euros.

In 2016:

  • More than 126,000 new operations were carried out.
  • Valued at a little over 80 million euros.

Currently, the Montes de Piedad serve approximately 143,000 clients, of which nearly 20,000 are new. One of their advantages is that the loans are adapted to the needs of any client who provides a guarantee.

Recovery of Jewelry

Clients recover their jewelry in more than 95% of cases, which differentiates this activity from the businesses of buying and selling jewelry or pawn shops, as their main goal is to facilitate access to credit rather than to profit.

Evolution and Social Function

After more than three centuries of history, the Montes de Piedad maintain their original purpose:

  • Combat usury.
  • Facilitate access to credit.
  • Avoid financial exclusion.

They have been particularly relevant in recent years due to the economic crisis and difficulties in accessing financing.

Their profits are reinvested in society through the Social Work.

Technological Commitment

  • About 85% of auctions are conducted online.
  • They use their own portals and the common portal: www.subastasmontes.es
  • Since 2015, they have had the informative website: losmontesdepiedad.es

Presence in Spain

  • There are 12 Montes de Piedad with 25 offices.
  • They serve more than 143,000 clients.
  • They have expanded their presence with new offices in cities like Móstoles, Alicante, Córdoba, Castellón, and Murcia.

Montes de Piedad in Spain

  • Afundación
  • Baleares (BMN-SA NOSTRA)
  • CaixaBank
  • Granada (Fundación Montemadrid)
  • Fundación Bancaja
  • Ibercaja
  • España-Duero
  • Caja de Canarias
  • Fundación Montemadrid
  • Liberbank (Oviedo and Santander)
  • Unicaja

Characteristics of Loans

  • Immediate formalization
  • No additional guarantees required
  • Possibility to recover the collateral
  • No need to justify the use of the money
  • Renewable annual duration
  • Minimum amount of 60 €
  • No fee for early cancellation
  • Interest lower than personal loans

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