The public bank of Catalonia finances a total of 1,694 companies and entities, of which 97% are entrepreneurs or SMEs. Industry, the most financed sector with €205 million, receives one out of every four euros in loans and guarantees. The entity quadruples its financing of social housing, which reaches €201 million, enabling the construction of 1,956 social housing units. Support to the primary sector through ICF Agroliquidity loans reaches 1,170 farmers and livestock breeders, increasing by 13% to €87.5 million. The organization allocates one out of every two euros in loans and guarantees to social and sustainable projects (ESG), with €428 million, 39% more than in 2023.
In 2024, the ICF mobilized a total of €847.4 million through its activity in loans, guarantees, and venture capital, representing an increase of 32% compared to 2023. In total, the public bank of Catalonia financed 1,694 companies and entities, of which 97% were SMEs and entrepreneurs.
The president of the ICF Governing Board and secretary general of the Department of Economy and Finance, Juli Fernández, stressed that the ICF "is a very important tool that, from its management autonomy, acts as a lever to promote the actions planned by the Government." Fernández highlighted the increase in the ICF's activity during 2024, especially in the field of housing, "an increase that reflects the Government's clear commitment to this sector, which will continue in the coming years."
"Our mission is that no viable project in Catalonia is left undone due to a lack of long-term funding," said ICF CEO Vanessa Servera. "We are combining significant growth with rigor in management, which allows us to close 2024 with a solid balance sheet and recurring margins and profits," said Servera at the press conference on the 2024 activity report held this morning at the bank's headquarters.
The bank increases its financing to companies and entities by 214 million euros and closes the year with an average payback period of 15 years
The ICF has increased funding to companies and entities by 36% compared to 2023. Loans and guarantees amounted to €811.2 million, an increase of €214 million compared to the previous year.
More than half of the financing in loans and guarantees (53%) has been allocated to social and sustainable projects (ESG), with a total of €428.4 million, which represents a 39% increase compared to last year and €121 million more.
The bank has also reinforced its commitment to offering long-term financing to make it easier for its customers to repay their loans. On average, loans granted by public bank have a repayment term of 15 years.
Industry is the sector most financed by public development bank, followed by social housing and commerce and tourism
Industry (manufacturing, energy, and agri-food) has been the most financed sector, with €205 million, representing one in four euros in loans and guarantees (25%), followed by social housing (25%) and commerce and tourism (21%). In 2024, the ICF quadrupled its financing of HPOs to €201 million, enabling the construction or acquisition of 1,956 social housing units. In terms of the number of customers, the most financed sector is the primary sector, which accounts for approximately seven out of ten loan holders in 2024.
In fact, support for the primary sector through ICF Agroliquidity loans has reached a total of 1,170 farmers, livestock breeders, and companies and has increased by 13% to €87.5 million. The ICF Agroliquidity loans, whose interest rate is subsidized by 50% by the Department of Agriculture, Livestock, Fisheries, and Food, are aimed at farmers and ranchers affected by the increase in prices, drought, and the other consequences of climate change.
The ICF strengthens its presence throughout Catalonia
The public promotion bank has expanded, once again, its network of commercial delegates deployed throughout Catalonia, with three more professionals in 2024, to provide close and personalized attention to the specific needs of companies and entities in each region.
The vegueria of Barcelona, which represents around 68% of the Catalan GDP, has concentrated 55% of the financing granted by the ICF in loans and guarantees in 2024, followed by the Comarques Gironines (13%), Ponent (11%), and Penedès (7%).
A total of 36 million euros of investment in venture capital
The ICF invests in innovative and technological companies with a great capacity for growth, consolidation, and impact, with the aim of promoting the development and competitiveness of the Catalan entrepreneurial ecosystem. In 2024, the bank invested a total of €36.2 million through its venture capital activity.
Public development bank have focused their activity on direct investment, where they have grown by 81% to €18.6 million, targeting specific segments and acting as co-investors in most operations. Its investment activity in external funds managed by Catalan asset managers has focused on the health and sustainability sectors and decreased by 47% to €17.6 million.