The Spanish Banking Association (AEB), CECA and the National Union of Credit Cooperatives (UNACC) unveiled today in Madrid the "Report on Financial Inclusion in Spain", prepared by the Valencian Institute of Economic Research (IVIE). This in-depth analysis of banking services in Spain draws the map on access to financial services in Spain, especially in rural areas, and points out that, despite the adjustment in the network of bank branches in Spain in recent years -concentrated in towns with more than 10,000 inhabitants-, "accessibility to banking services is good, as 98.6% of the population currently resides in a town where there is at least one point of access to banking services".

The event featured the participation of representatives of the three banking associations behind the report, who reaffirmed in their speeches the banking sector's commitment to financial inclusion and compliance with the actions set forth in the Strategic Protocol to Strengthen the Social and Sustainable Commitment of the Banking Sector, signed one year ago. These measures include updating the map on access to financial services in rural Spain, so that in the future, where appropriate, mechanisms can be jointly developed between the sector and public administrations to expand access to basic financial services for the population.

María Abascal, Managing Director of the AEB, recalled that the objective of the banking sector has always been to accompany all its customers, including people in rural areas. In this context, Abascal pointed out that "the sector is working with sensitivity and responsibility to provide an adequate response to this situation". In this regard, Antonio Romero, Corporate Director of Association Services and Resources at CECA, stressed that "depopulation in Spain is a phenomenon that affects the provision of all types of services. The banking sector, in line with its social commitment, has long been deploying measures to promote access to financial services in rural areas". Finally, Cristina Freijanes, General Secretary of UNACC, emphasised "the commitment of the financial sector to society, which is embodied in the initiatives that the associations carry out jointly, to combine efforts in pursuit of common goals".

The report was presented by Joaquín Maudos, Professor of Economic Analysis at the University of Valencia, Assistant Director of the Ivie and CUNEF collaborator, who, as director of the research team responsible for the study, pointed out some of the main conclusions of the in-depth study.

Thus, with regard to the process of adjusting the bank branch network - motivated by the financial crisis, the problems of low profitability of the sector in a context of low interest rates and the growth of banking and non-bank competition - the conclusion is that it has not resulted in financial exclusion, due to the existence of other points of access to banking services (ATMs, financial agents, mobile offices, Spanish Postal Service) and the growth in the number of internet banking users. However, in view of the difficulties faced by certain vulnerable groups and the possible risk of exclusion, the percentage of the population living in towns where there is no access point to banking services has been quantified, as well as the distance of access to the nearest banking services.

The analysis shows that most of the adjustment in the branch network has taken place in towns with more than 10,000 inhabitants (81.8%) and only 3% of the reduction is concentrated in those towns with less than 1,000 inhabitants.

The report points out that in these towns as a whole it is not possible to speak of financial exclusion, since, if other means of access to banking services are taken into account, the percentage of the population in this situation would fall from 3.3% to 1.4%. "Specifically, 898,131 individuals and 1,192 towns can access banking services in their town of residence because the banking sector has taken measures to prevent financial exclusion in the form of installing an ATM where there is no branch, signing an agreement with the Spanish Postal Service, offering the services of a financial agent and/or providing services through mobile branches", the study notes. Taking into account access to other nearby branches, it is concluded that "the problem of accessibility to banking services is very limited" since 99.1% of the population has an access point to banking services within 5 kilometres and 99.5% within 10 minutes.

The banking associations, in the light of the results of this report, the assessment of the financial inclusion measures adopted and their own vocation to serve society, will assess further measures to help reinforce financial inclusion