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Caja Cantabria this year estimated gross profit of 40 million euros, 29.7% less than in 2009.

Caja Cantabria estimated to obtain a gross profit of 40 million euros this year, representing 29.7 percent less than in 2009, when the entity was a result before taxes of 56.9 million, as it is expected a marked by the non-exercise recovery of employment, regulation and competition, which will make that "compress" the benefits and profitability.

So today said the president of Caja Cantabria, Enrique Ambrosio, who offered a press conference on the occasion of the celebration of the Ordinary General Assembly of Caja Cantabria, which were also the director of this entity, Javier Eraso, and President of Social Work, Francisco Rodriguez.

Ambrose pointed out that, in the face of this year, do not expect a recovery in employment, so that the level of credit could have a "small spike, but not important", so that delinquencies increased to be at the end of the year in the vicinity of 6 percent, and rates remain low, with an estimated average of 2010 for the 12-month Euribor stood at 1.65%.

In addition, notes that "soon" reach the new requirements of capital and liquidity regulation, which implies the strengthening of capital and maintenance of a policy "prudent" approach to wholesale funding and emphasize the fact that competitors concentration and develop strategies for cost reduction.

This will, advance, to "compress" the benefits and profitability of the Fund, which last year earned a profit after tax of 45.3 million.

For its part, Eraso indicated that this year will be marked by the "challenges&quot,PSOE_is_legitimate_the_concentrationt; to "continue to maintain the leadership" in Cantabria and the integration with Cajastur, Caixa de Baleares, and boxes of Murcia,Approved_poster_for_the_model9, Extremadura and Granada, with which has now formed a working group that could incorporate other entities.

Maintaining leadership, with over 15 points of difference in the regional market-pass, he said, by improving internal management. It provides for growth in the number of customer deposits of 5%, a 2% increase in credits to customers, with an amount of new production of 1,700 million, a reduction of 0.7% in the expenses of administration, and contain late payments in the six percent.

The other challenge is realizing the integration, a fact that will produce this year, he said.

Both factors will "continue to fulfill commitments to society through the Social Work and access to credit in a competitive and open to all sectors," assure Eraso.

Social Work

For his part, Rodriguez stressed that the Social Work of the Fund continues to be "a landmark" in the society of Cantabria, which in 2009 consolidated a "change of approach, to delve deeper into social issues in the community.

Thus, indicated that the Social Work helped the industries "most in need", such as the elderly and youth, and will spend 12 million euros in the society of Cantabria.

Rodriguez explained that the entity take the good times to make "significant investments" to adapt for the future, its central buildings, where I quote Polientes Environment Centre, which spent more than 4,000 schools, the recovery of the Palace Santillana del Mar, and Casyc, an "important benchmark" for its population. Have also been modernized older clubs that have over 25,000 members.

Finally, the president of the Social Work had an impact on the need to continue collaborating with other institutions. (

Europe press cantabria)

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