AEB, CECA and Unacc have met with the Ministry of Economy, Trade and Business to assess the progress made in their commitment to support society. The sector has provided data revealing its compliance with the main commitments undertaken as part of its social vocation: promoting financial inclusion in rural areas, improving and adapting banking services to the needs of the elderly and protecting vulnerable households with mortgage loans.

The sector's banks have developed financial and digital education initiatives that have reached 277,000 people over the age of 65 during the first six months of the year. In addition, 93% of municipalities with more than 500 inhabitants, which a year ago did not have a physical access point to basic financial services, will now have one.

AEB, CECA and Unacc held a meeting with the Ministry of Economy, Trade and Business in which they pointed out the notable progress made by the banking sector in its social commitment, improving the financial education of society and promoting the financial inclusion of the elderly and in rural areas. In addition, the Ministry has proposed to enhance the support offered to mortgage debtors in difficult situations.

At the meeting, the banking associations highlighted the importance of the objectives undertaken and attained in the field of financial inclusion under the Strategic Protocol to Strengthen the Social and Sustainable Commitment of the Banking Sector. Within the framework of this protocol, they highlighted the efforts made to promote financial and digital education, with the creation of a web platform offering educational resources and the promotion of training for the elderly, with 277,000 individuals accessing educational initiatives on financial literacy and digital skills during the first six months of the year.

In addition to this, we must mention the Ten-step plan of measures to improve customised service for the elderly and people with disabilities, which has allowed 82.2% of offices to provide service with extended opening hours, benefiting 5.6 million elderly customers during the first half of this year.

With regard to the commitments undertaken in the Roadmap to reinforce financial inclusion in rural areas, AEB, CECA and Unacc stated that 93% of municipalities with more than 500 inhabitants, which a year ago did not have a physical access point to basic financial services, will now have one, because it is already available or in the pipeline, which represents a significant advance in financial inclusion in rural areas and confirms the ultimate objective of offering a physical access point to financial services through different channels in all Spanish municipalities.

At the meeting, the Government announced the extension of the mortgage support measures, such as increasing the income threshold that appears as a requirement to benefit from the Code of Good Mortgage Practices to alleviate the rise in interest rates on mortgage loans on primary residences, or the continuation of the programme allowing homeowners to change their type of mortgage loan at no cost.

The sector reiterates the preventive nature of the measures contemplated in the Code of Good Mortgage Practices, in an economic context of great uncertainty, and that one year after its entry into force, many of the uncertainties have been resolved. On the one hand, interest rates have entered a phase of clear stabilisation and, on the other hand, employment is proving more resilient than expected. Proof of this is that the level of non-performing loans is now lower than it was when these measures were adopted a year ago.

In addition, banks continue to offer individual customised solutions to borrowers who may be experiencing liquidity problems beyond the strict provisions of the codes. This is illustrated by the renegotiation figures, which have increased by just over 300% compared to the same period last year, to reach €2.2 billion in the first half of 2023.

The success of measures such as this is that whoever has a problem has a solution. And in this case the solution lies in the Code of Good Mortgage Practices or in the bilateral relationship with the bank.

The associations reiterate that it is also important to have a secure and reliable framework, so that families know what they can do and how to do it, which is why it is so necessary that what has been agreed today remains unchanged for the term of the Code of Good Mortgage Practices.

In any case, the sector reaffirms that measures such as these demonstrate the banking sector's willingness to continue to make progress towards social inclusion, especially with measures targeting the most vulnerable groups.