CECA's member entities allocated €800.16 million to social projects in 2022, an increase of 2.8% compared to the previous year.
However, these figures are nothing compared to what was invested before the financial crisis, when many savings banks were forced to become banks or to be absorbed by banks.
According to data from 2008, that year a total of €2,058 million was invested in social projects, equivalent to 27.7% of the profits of these savings banks.
In any case, Mónica Malo defends the current contribution to social projects in the latest Social Investor podcast, where she also explains the main activities to which the funds are allocated.
"It continues to be a pillar. It is true that there were instances when more than 2,000 million were invested, but today 800 million are invested, and we cannot underestimate this contribution, which is still very important", she explains. "They have been implementing Obra Social for more than 3 centuries. Social projects are genuinely committed to well-being", stated Mónica Malo.
