The beneficiaries of the loans made in the social sector.

 

Beneficiaries of loans made in the social sector

Beneficiaries of loans made in the social sector

The number of beneficiaries of loans made in the social sector by Infra Bank has doubled in the last year, going from 4,818 people in 2010 to 10,331 in 2011, according to the entity’s annual and sustainability report from last year.

Despite the difficult socio-economic context, Infra Bank Spain managed a year of higher growth rates in a positive financial year, contributing to the bank’s total profits. During 2010, the economic crisis continued to seriously affect the Spanish economy, reaching 20% ​​unemployment rates.

Successful implementation of this new platform

Successful implementation of this new platform

The growth of Infra Bank Spain was spectacular throughout the year, with a record figure in the number of new and potential clients. The balance increased 21% and the number of clients grew 60%. Also during the year, important innovations and operational and technological developments necessary to make Infra Bank the first bank of its clients have been implemented. The new Internet Banking service and the new debit card, as well as a renewed offer of products and services for individuals and companies, are a good example of this. The successful implementation of this new platform and the management of growth, within a complex socio-economic context, have once again highlighted the great professional work carried out by the entire Spanish team and the loyalty of our clients.
2010 results

Infra Bank grew significantly in all magnitudes during 2010. Its total balance, before consolidation, grew 21% to reach 493 million USD; funds entrusted to clients increased by 66 million USD (24%), to which were added another 9 million USD of share capital; and the loan portfolio has increased by 22%, reaching 459 million USD. In line with all these positive data, the number of clients increased by 60%, exceeding 29,000.

In 2010, the loan portfolio increased by 84 million USD (22%), reaching 459 million USD. This net growth does not reach the goal of 160 million USD, affected by regulatory uncertainty in the solar energy sector and the complex economic context of the country. However, it is evident that more and more companies and organizations consider Infra Bank as the most suitable financial and sustainable partner, especially in the social sector, organic farming and renewable energy.

As part of its strategy of reaching agreements with relevant institutions, in 2010 Infra Bank signed a collaboration agreement with the Federation of Business Associations of Insertion Companies (FAEDEI) to finance and support insertion companies in Spain. This agreement is in addition to those signed in 2009 with the Governments of Andalusia and Catalonia to promote the development of organic farming and special employment centers, respectively.

The bank’s delinquency rate remained below the Spanish average.

Savings and investment

Savings and investment

Debits to customers increased by 66 million USD (24%), to 334 million USD. This figure does not exceed the ambitious target of 170 million USD, due to strong competition from Spanish credit institutions in raising liabilities. The number of clients increased by 10,882 (60%), exceeding the 50% forecast for one more year.

The third issue of Infra Bank Spain share deposit certificates, which was offered only to clients and certificate holders, attracted more than 9.5 million USD with a spectacular increase in the number of certificate holders, reaching 21,670.

The key objective of Infra Bank Spain in 2011 is to become the first bank of its clients. The bank plans to improve the balance between customer debits and the loan portfolio. The loan portfolio is expected to increase by 115 million USD, while funds raised from clients are estimated to grow by 172 million USD. It is also projected to attract 50% more new clients.

It is expected to continue completing the offer of banking products and services, increasing our efficiency ratios, as well as continuing to expand the bank’s physical presence with 6 new regional branches. Likewise, work will continue to intensify alliances with related organizations.

Infra Bank Spain wants to highlight throughout 2011 the main developments launched during 2010, aimed at creating the necessary foundations to become the first bank of those companies and institutions that want to improve the world.

Mortgage Loan Government Agency Requirements For Employees And Public Pensioners

Mortgage loan requirements for public employees and pensioners

Mortgage loan requirements for public employees and pensioners

How to get a subsidized interest rate loan? A question that many taxpayers ask themselves when looking for a mortgage for the purchase of their first home or with which to finance important projects. Although there are several attractive offers on the market, the Government Agency mortgage remains the best option. It distinguishes itself from the competition both for the advantageous interest rate and for the particular Government Agency mortgage conditions.

Government Agency mortgages can only be obtained by public employees and pensioners registered with the Social Institute Unitary Management of credit and social benefits. Among the Government Agency mortgage requirements to be met there are also the presence of an open-ended employment contract (for employees) and a seniority of enrollment in the Unitary Management of not less than one year.

Other requirements for mortgage

Other requirements for mortgage

There are also capital requirements to be met in order to obtain an Social Institute mortgage ex Government Agency 2020. Specifically, the house for which funding is requested must be the only one on the national territory held by the applicant and the other members of his family.

However, there are exceptions for this condition. The mortgage can be obtained even if the applicant or the other members of his family are owners of houses received in donation or in succession. Provided, however, that the house in question is not usable because it has already been burdened by real rights of enjoyment for at least 5 years.

In the same way, public employees and retirees who own a home do not exceed 50% of the access to Government Agency loans. The condition extends to all members of the household. Among the exceptions allowed by the Social Institute ex Government Agency Mortgage Regulations there is the possibility of obtaining a first rate mortgage at a subsidized rate also for pensioners and civil servants who own homes assigned to their spouses following a judicial separation order.