José María Méndez, CEO of CECA, highlighted today during his intervention at the '31st Meeting of the Financial Sector' organised by Deloitte and ABC, the contribution of the sector comprising banks, savings banks and foundations to mitigate the effects of the torrential rainstorms last week. Specifically, has emphasised:
– The banking sector is once again contributing to the resolution of problems, as it did during the COVID-19 pandemic and the eruption of the La Palma volcano. In this occasion, even, have anticipated us to the authorities, proposing concrete measures. The sector announced its availability of giving moratoria before that these were regulated. Both associations' technicians have worked in regulatory texts, which it has allowed its approval quickly (5 November). These measures need legal coverage to ease the documentation requirements for a novation, to include rebates on duties, notary and registry fees, and the adaptation of accounting and prudential requirements.
– In addition to the measures that have been regulated, other initiatives are being taken by banks through agents or the deployment of mobile branches in some of the locations where the bank branch has become inoperative, in order to facilitate the provision of essential banking services, such as cash withdrawals, requests for advances or the processing of insurance claims.
– The involvement of the banking sector is not been limiting to the purely financial measures, to middle and long term, the social dimension of the companies CECA, via his Obra Social, is playing play a very relevant role in the recovery of the affected areas. In 2023, CECA's member entities invested more than €850 million in Obra Social, with a total of over 80,000 initiatives benefiting 30 million people. In aggregate terms, this investment constitutes the 5th largest philanthropic entity in Europe.