Bottas considers it an “advantage” that Abanca is not listed on the stock market due to “volatility”

The CEO of Abanca, Francisco Bottas, considered it an “advantage” that the Galician financial institution is not listed on the stock exchange due to the current “volatility” in the market.

President of the Bank, juan Carlos Escote, He has indicated on previous occasions that the entity maintains its jump to the stock market in its roadmap, but waits for the right moment.

At a conference held at the headquarters of basis vigo, Francisco Bottas He reviewed the transformation of the entity, one of the “most solid” profiles of the sector in Spain, which manages more than 115,000 million euros, with a presence in 11 countries.

The role of Eight institutional processes pledged by the entity in Spain and Portugal: “Before, we were an entity whose center was Galicia and had a half of its work in Galicia; now its center is Galicia, but the coverage is much wider.” The last of which was Acquisition of EuroBic.

According to its data, between 2019 and 2022, the funding granted by Abanca to companies and the self-employed grew by 20.9% and 26.2% for households, above the sector averages (2.5% and 17.6%, respectively).

These credit flows were “key to the growth of Galicia”, with the impact of the activity of the financial institution amounting to 12% of GDP and 13% of employment.

Abanca is the only bank in 175 Galician municipalities, something that has contributed, in the opinion of its CEO, to the independent community being the best “in financial accessibility”.

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