Annual report
SUMMARY OF THE MAIN HEADINGS
In terms of the human capital required for this social vocation, the Basque-Navarre Savings Banks employ 645 permanent employees, 157 temporary workers which represents a total number of 791 people who are involved in this social welfare work.
| BASQUE SAVINGS BANKS (absolute values) | ||
|---|---|---|
| Item | 2008 | 2009 |
| Own resources | 5.844 | 6.109 |
| Creditors | 46.212 | 44.571 |
| Credit investment | 43.362 | 44.092 |
| Social work fund | 271 | 328 |
| Total Balance | 58.156 | 59.012 |
| Pre-tax profits | 484 | 440 |
| No. branches | 891 | 883 |
| No. employees | 6.078 | 5.642 |
| BASQUE-NAVARRE FEDERATION SAVINGS BANKS (absolute values) | ||
|---|---|---|
| Item | 2008 | 2009 |
| Own resources | 6.977 | 7.319 |
| Creditors | 59.826 | 57.803 |
| Credit investment | 56.679 | 57.388 |
| Social work fund | 286 | 343 |
| Total Balance | 76.904 | 78.396 |
| Pre-tax profits | 634 | 576 |
| No. branches | 1.270 | 1.219 |
| No. employees | 8.050 | 7.536 |
At the close of 2007, the total balance of these institutions stood at 71,818 million euros, after rising by the absolute value of 9,521 million euros - a growth of 15.28%.
Creditor resources significantly contributed to this figure, with a +14.41% increase of 6,730 million euros to reach 53,445 million euros in 2007. This represented 74.4% of the total balance.
The commercial resources administered (as a result of combining creditor resources and those operations for raising client funds which are not directly reflected in the balance as they are categorised in the assets of collective investment institutions and voluntary social provision bodies) rose at a rate of 9.77% this financial year, increasing previous balances by 5,214 million euros to reach the total amount of 58,588 million euros.
Despite the withdrawal of demand for credit operations and the toughening of financial conditions and concession criteria for risk operations as a result of the effects of the slowing down of the economy underlying generalised financial tensions, the Basque-Navarre savings banks saw their credit investment balances increase at a rate of 15.30%, with the balances of risk operations increasing to the sum of 6,962 million euros. The overall balance at the close of the financial year therefore stood at 52,454 million euros. It is worth mentioning that operations with a real guarantee increased by 14.6%, and that despite the problems mentioned the figure of doubtful assets rose by 44.32% to close the financial year at 338 million euros.
Finally, the brokerage portfolio of the institutions comprising the Federation of Basque-Navarre Savings Banks totalled 12,229 million euros at the close of the financial year after rising by an absolute value of 2,284 million euros (+22.96%).
