Cajamar, our homegrown rural caja done good, has today signed into being a brand new Bank which will act on a national level.
Cajamar is the main backer of the new bank, but has been joined by 32 other rural saving banks from across Spain.
The Banco de Crédito Social Cooperativo will start operating as from the 1st of Feb, and will as from the 1st of May start running as the head and front of Grupo Cooperativo Cajamar.
Cajamar is currently a rural savings bank, which under Spanish financial law limits its functionality in the financial markets. It’s one of Spains strongest financial institutions and has recently expanded across the nation. But it’s not a bank or even a savings bank, it’s a rural cooperative, and the new Bank means it will have access to the main financial markets.