In 2023, Caixa Ontinyent obtained a profit before taxes of 13.5 million euros, 11.43% higher than that obtained in 2022. After paying taxes, which amount to 3.8 million euros, the net profit was stands at 9.7 million euros, 4.98% more than the previous year.
The entity's Board of Directors has formulated the accounts for the 2023 financial year, which will be submitted to the General Assembly for approval in the coming months, and which have exceeded forecasts both in business volume, results and capital position.
The proposal for the distribution of profits that will be submitted to the General Assembly allows for increasing the level of capitalization of the entity (by allocating 8.5 million euros to reserves) and strengthening the actions of its social work (to which 1 .1 million euros).
Regarding delinquency, it stands at 2.75% with a coverage of 71.98%, and the CET1 capital at 17.22%, well above the minimum required by the Bank of Spain, the entity details in a statement.
On the other hand, Caixa Ontinyent anticipates that it will focus its activity this year on its geographical expansion, with plans to open offices in Alicante city and Paterna in the first half of the year, while managing new openings for next year. As foreseen in the 2023-2025 Strategic Plan, the savings bank is advancing in its "consolidation as a reference entity in the Valencian Community."
The president of Caixa Ontinyent, José Pla, emphasizes that 2023 "has been an excellent economic and social year." "Economic because we continue to grow in business, we have achieved historic results and we have raised capital to really solid levels; social because all our activity aims to contribute to the well-being of everything; and, the best thing, is that we are in a position to extend our model and our actions to other areas of the Valencian Community," he explains.
The entity maintains a "continuous" process of updating and renewing technologies and systems. The objective is that the client "has access to all services with the greatest ease and security, always with the commitment to accompany those who need the most help in this digital transition, including the elderly and/or people with disabilities," they say.
By 2024, Caixa Ontinyent plans to launch different online projects to improve customer autonomy through its electronic banking: new ways of communicating with the office, contracting products, documentation management and operations with international accounts. And obviously, with all the security elements that the use of digital media requires.
The results obtained, together with other remainders, recoveries and income, allow for a social work budget of 1.5 million euros.
This year the established programs will be maintained regarding the maintenance of the own centers and in collaboration, research and dissemination of indigenous topics through publications, collaboration with groups, presence on the Campuses and management of the participating foundations of a welfare, teaching and cultural.
Furthermore, the Caixa Ontinyent Foundation will maintain the activity of the Monte de Piedad, the activity of the Caixa Ontinyent Cultural Center will be promoted and the financial education programs will be diversified, with special relevance to the training of trainers, courses and conferences for ESO students. and for Baccalaureate, the App for children's stories, specific actions for adults, and other information and dissemination activities through the web and social networks. This training program is being used by more than 43,000 people from different parts of Spain.
The main novelty for 2024 is the launch of a sustainability program through the Fundació Caixa Ontinyent, which will develop training, information, dissemination and awareness actions.
"We will especially emphasize our commitment to sustainability in all its aspects (social, environmental and government), both internally and in the financial activity itself; because it is everyone's responsibility to guarantee the future of the new generations," he declared to the respect José Pla
