CaixaBank will present in London this morning to its new strategy for 2019 to 2021 with international investors and the media. Among the novelties is the reduction of the branch network, which is the largest in Spain, which changed from 4.461 to an area of 3,640 in 2021. The entity speaks of a close "more than 800 branch offices," according to the document sent Tuesday morning to the CNMV. The closing offices will imply a new reduction of the template, but the entity is not specific in the plan. Between 2011 and 2018 have left 14,000 employees of the bank with union agreements, as specified by the entity.
The bank ensures that it will maintain the rural network of offices (about 1,000 in total in a town of less than 10,000 inhabitants) and that the reduction will come from the urban office simple, dedicated to mechanical operations, to increase the number of "store", the offices open with a format similar to a trade and that will be focused on the personalized attention to the client with a schedule of opening wider to sell products.
CaixaBank claims to be the first commercial bank in Spain, both for commercial customers conventional as well as by the digital, where it says to have the leadership with 32% of the total. The entity continues to this digital transformation by admitting that 62% of its customers combine the regular use of the office with digital media and only 38% are exclusive to digital. Still today the first reason for choosing a bank is "the proximity of the branch", says the presentation, and the goal is to transform their clients into digital users because they are more profitable by hiring more products. The entity also intends to expand the model of care for remote inTouch, reaching to 2.6 million customers in 2021, compared to the 600,000 current.
Precisely CaixaBank undertakes to investors to reach a return on equity (ROTE) of more than 12% by 2021, according to one of the objectives that the president of the organization, Jordi Gual, and the ceo, Gonzalo Cortázar, presented today to analysts in London.
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The new roadmap of CaixaBank draws five major strategic lines: to offer the best customer experience; accelerate the digital transformation; - encourage a culture that is people-centred; generate a compelling return to shareholders, while maintaining financial soundness, and to be leaders in responsible management and commitment to society.
Under these assumptions, the bank proposes to increase its basic income from the business, as well as reduce their non-strategic assets, bringing the npl ratio to below 3% and to maintain a policy of dividend attractive to investors, with a goal of 'payout' (percentage of profit allocated to dividends) by over 50%.
CaixaBank details, in this sense, that the increase of the income derived from the banking business pivotará on the growth of financing to firms, consumption and savings in the medium to long term, with an increase above the market, as detailed in the information sent to the CNMV, the regulatory stock.
The entity hopes to achieve this goal in a more mature phase of the economic cycle, with a forecast growth of GDP for Spain and Portugal of around 2% annually in the next few years, and with a predictable rise in "very gradual" interest rates.
Even in the field of technology, CaixaBank wants to bet by the use of the blockchain, the artificial intelligence and robotics, as well as new methodologies of working that promote flexibility and improve efficiency.
in Addition, during the next three years that CaixaBank has set the objective of enhancing the talent of your staff, give more autonomy to the offices, to promote cross-disciplinary projects and to boost the agility in the taking and implementation of decisions.
In Portugal, the focus will focus on to continue to create value in BPI, consolidate the business model and improve profitability.