With this endowment, 99,483 activities have been carried out, 22.87% more than in 2023, impacting more than 35 million beneficiaries
The foundations of the CECA sector exceeded 900 million euros in investment destined for social initiatives in Spain during 2024, representing, collectively, the largest private social investment in the country, as announced this Thursday at the 118th General Assembly of CECA.
With this endowment, 99,483 activities have been carried out, 22.87% more than in 2023, reaching over 35 million beneficiaries. In these eleven years, since the Law of Savings Banks and Banking Foundations of 2013, the accumulated investment has exceeded 8,729 million euros, with which more than a million activities have been launched.
This Assembly was chaired by the president of CECA, of the ‘la Caixa’ Foundation and the World Savings Banks Institute (WSBI), Isidro Fainé, who has focused on the evolution of the Social Work of the CECA sector, whose investment he described as «a hallmark», also being «at the forefront of private social investment in Spain». «For 2025, we expect a significant increase in these figures, with around 1,000 million euros and 100,000 activities,» he stated.
During his speech, he also listed the achievements of the association in 2024: «the work of representing the interests of the sector, advances in financial inclusion, promotion of financial and digital education, and the promotion of sustainable finance.»
During the event, Antonio Romero was ratified as the general director of CECA, following his appointment by unanimous decision of the Board of Directors meeting on April 9, replacing José María Méndez, who had been at the helm of the association since 2011. Romero will assume the position starting April 30.
In this regard, the president of CECA also took the opportunity in his speech to thank José María Méndez for his work leading the organization for these fourteen years, as well as to welcome the new general director and congratulate Ainhoa Jáuregui, the future CEO of Cecabank.
Regarding the performance of the Spanish economy, Fainé emphasized that «it has once again surprised positively and stands out compared to the European average.» «The key is that everything points to this momentum continuing this year and next. Therefore, we are facing an excellent opportunity to address pending tasks and place our economy on higher levels in the global arena. The entities of the CECA sector can contribute significantly to achieving this,» he added.
Furthermore, Fainé highlighted the collaboration and shared values, at the European level, with the European Savings Banks Group (ESBG) and, on a global scale, with the World Savings Banks Institute (WSBI).
On the other hand, CECA’s general director, Antonio Romero, addressed the main challenges and opportunities of the sector at the present time. In terms of regulatory framework, he highlighted the European Commission’s initiative to advance in the regulatory simplification process and stressed that, from CECA, they advocate «for this new European roadmap for competitiveness and simplification to be based on improving the European normative process, the involvement of European supervisory authorities in said process, and national competent authorities.»
Regarding the increase in the endowment for the Social Work, Romero pointed out that «this investment represents a line of defense against inequality, a guarantee for the maintenance of our country’s historical heritage, and a key element in promoting research.»
It has also been announced that CECA has renewed its commitment to improving financial literacy by allocating five million euros to ‘Funcas Educa’, doubling the allocation from 2024 and the highest amount since the start of this program.
332 MILLION FOR SOCIAL PROGRAMS, THE LARGEST INVESTMENT IN 2024
The Social Work of CECA carries out its activities in various areas, aiming to cover all segments of the population, focusing especially on the most vulnerable individuals and the needs that society demands at each moment.
The Social Programs of the CECA Foundations received the largest investment in 2024 (332 million euros), with initiatives aimed at reducing poverty and inequality, as well as improving the living conditions of individuals, especially in vulnerable communities. Special mention goes to the actions taken to help the areas affected by the DANA catastrophe.
In terms of Research, aimed at improving people’s quality of life, 187 million euros were invested in 2024. More than half of this investment was used for research projects in health and science.
In Culture, over 11 million people attended programs in the Culture and Heritage area throughout 2024; while in Education and the dissemination of financial literacy, over 4.3 million impacts (digital accesses and in-person attendees) were achieved through the Education area activities in 2024.
On the other hand, 6,170 initiatives were developed in the area of Local Development, Entrepreneurship, and Employment, aimed at supporting SMEs and self-employed individuals, promoting rural areas, entrepreneurship, and employment, resulting in 4.73 million euros for young entrepreneurs.
In the Environment, there was a 15% increase compared to 2023 in programs for raising awareness and conserving natural spaces. In Sports, although most of the activity is focused on grassroots sports, there is also work on integrating vulnerable groups, supporting seniors in their active aging, and cultural cohesion through sports specific to the region.
The Foundations and Social Work Commission, the main forum for exchanging experiences, cooperation, and study on Social Work, also held its annual meeting on Thursday. It is a statutory and advisory body of the association that brings together representatives of banking and ordinary foundations in the sector.
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