CaixaBank SA

10/30/2024 | Press release | Archived content

CaixaBank launches a support plan for those affected by the torrential rain in the Valencian Community, Castilla La-Mancha, and Andalusia

CaixaBank.

• The bank has opened a line of credit to advance the payment of insurance company compensations for families and businesses.

• MicroBank, CaixaBank's social bank, has made financial support available to ensure the continuity of small businesses' activities.

• Through AgroBank, it has launched a line of credit worth more than €300 million to help the agri-food sector with damaged farms and crops.

• CaixaBank Volunteers have also mobilised to help and provide coverage in the municipalities most affected by the storm.

• SegurCaixa Adeslas has set up a dedicated telephone line (+34 91 030 02 96) to expedite contact with the insurer.

CaixaBank has initiated a support plan for those affected by the storm, torrential rains, floods, and inundations caused by the cold front that has affected the Valencian Community, Castilla-La Mancha, and Andalusia, causing the sad loss of human lives and significant material damage.

The bank, which deeply laments what has happened and stands in solidarity with those affected, offering its full support and collaboration to institutions, authorities, and community organisations where possible.

The first measure will be to advance the payment of insurance company compensations to facilitate quick access to compensations for families and businesses that may be affected.

The bank has made a new priority line of credit available for its retail clients designed to help those affected repair the damage caused by the floods to their homes and/or vehicles until aid from the Insurance Compensation Consortium arrives.

The second support measure is an extraordinary line of credit that MicroBank, CaixaBank's social bank, has enabled for those affected by the torrential rains. The objective is to ensure the continuity of activity of self-employed individuals and small businesses with a turnover of up to €2 million and fewer than ten employees, with a maximum amount of €50,000 to be paid in 72 months.

Moreover, SegurCaixa Adeslas has set up a dedicated telephone line (+34 91 030 02 96) to expedite contact with the insurer and, in the case of insured persons who need it, will facilitate the management of insurable claims, by creating claims to the Insurance Compensation Consortium (CCS, in Spanish) to expedite processing and help manage the insured in these times of need. Regarding the management of car insurance, the assistance service has been reinforced to provide the necessary additional capacity at the phone number +34 900 301 900, which will be operational 24 hours a day.

Other support measures for those affected

Additionally, AgroBank has enabled a line of credit worth more than €300 million, with which the bank shows its commitment and determined support to the agri-food sector, which has also been affected by the storm.

CaixaBank's line of credit aimed at the agri-food sector is set to help in cases where farms and crops have been damaged and also allows for the advanced pay of aid and compensations to rehabilitate the damage caused by heavy rains and the storms.

Furthermore, CaixaBank Volunteers have mobilised to assist and provide coverage in the municipalities most affected by the flooding, collaborating in cleaning and restoring roads to try to return the situation to normal as soon as possible, aware of the material and personal damage that this type of climatic catastrophe can cause, both in homes and businesses.

One hundred volunteers from the entity will work, after contacting local town halls and Civil Protection, to understand their most pressing needs and help in the most affected areas of the region.

CaixaBank has also enabled an emergency donation platform, accessible from CaixaBankNow and ATMs, to facilitate nation-wide collection of financial donations in support of those affected, without needing to be a customer of the bank , in an agile and simple manner.