Association of Banks on Caja Bancaria: the serious situation it is going through was foreseeable

The union issued a statement on Monday in which it referred to the situation of the Caja Bancaria. He indicated that banks contribute 6 times more than what the rest of the companies contribute and contribute with most of the financing of the box. He gave an example that in 2022 of every $100 collected in the private banking sector, banks contributed $73.

The ABPU stated that “The serious situation that Caja Bancaria is going through today was foreseeable”. He based it on the fact that a pay-as-you-go regime with more liabilities than assets, with liabilities well above the average, added to a high and growing life expectancy of the collective is unsustainable.

He recalled that the union participates together with the government and the union in a working group dedicated to finding solutions to deal with the lack of financing of the institution.

But he added that the magnitude of the funds required to rescue it is so important that it is not easy to reach an agreement for the financing.

“The other big challenge we face is adapting our practices and labor relations to the world today, and to the world to come,” he said.

In another passage he maintained that the small financial market that lives with high operating costs, which makes the market unprofitable and attractive internationally. With this background scenario, he mentioned that “The small size, low profitability and high costs threaten job creation and the very sustainability of Caja Bancaria”.

Finally, he pointed out that the ABPU is working to find solutions that allow for a viable, sustainable system that generates employment and opportunities.

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