AEB President Alejandra Kindelán has defended the Spanish banking sector’s involvement in the country’s productive sector at a time when Europe must boost its competitiveness to find its place in the new world order.
During an event organized by Deloitte to present the report “Boosting Investment and Productivity in Spain,” Kindelán highlighted that the European competitiveness agenda already has a set timeline, noting that the Commission recognizes the importance of a profitable banking sector if we want sustainable growth.
“Now is the time to shape the future, and we have no time to waste,” Kindelán explained, noting that Europe is estimated to need 1.4 trillion euros a year to finance its investments in strategic sectors such as defense, security, AI, and the energy transition.
Kindelán has reiterated the urgency of moving forward with the regulatory and supervisory simplification agenda and with market integration in Europe, with the goal of ensuring a strong banking system capable of absorbing shocks and preventing crises from spreading more intensely to the broader economy.
Support for Businesses
Situations of uncertainty, such as the one experienced in Ceuta—a city Kindelán visited this week—highlight this point and the success of the Spanish banking model, which is characterized by its commercial focus and close relationship with its customers.
The president of the AEB met there with representatives of the banking sector and business leaders to see firsthand the high level of concern and the lack of a clear path back to normalcy. “The role banks play in supporting our businesses—as a sector that understands the environment around us and is capable of assessing the situation and anticipating what might happen—is essential,” Kindelán explained.
The sector currently has 88,000 physical locations in Spain, the second-densest branch network in Europe. “We support businesses in their day-to-day operations with payment tools, transfers, technological capabilities, cybersecurity training, and assistance with their international expansion, among other things,” he noted.
Similarly, he emphasized the importance of promoting financial education as a required course “so that our young people and children can enter the stages of entrepreneurship and work life with the knowledge they need.”
The debate, moderated by Juan Pérez de Ayala, partner in charge of Financial Services at Deloitte, also featured Antonio Cordero, director general of Financial Markets and Mediation at the Official Credit Institute (ICO); Antonio Romero Mora, director general of CECA; and Angel Martínez-Aldama, president of Inverco.
