• The Bank is providing access to the ICO-DANA Guarantee Lines to help rebuild the areas affected by the storm and get business back on its feet
  • It has approved a 100 million euro extension of the line of credit available to the government (Generalitat ) and it has increased the MGS facility by an additional 15 million euros
  • Banco Sabadell has also opened a current account for donations and has contributed one euro for every euro donated by citizens

20 November 2024

Banco Sabadell has used the new Guarantee Lines of the Official Credit Institute (Instituto de Crédito Oficial, or ICO) to offer its customers who are individuals, self-employed professionals, businesses or shops a line of credit with 0% interest during the first three months to help those affected by the DANA storm that swept across the Valencian Community to return to normal as quickly as possible.

After three months and up to five years, the interest rate that Banco Sabadell will apply to these loans, designed to ensure that individuals, self-employed professionals, businesses and shops can meet their most urgent needs, will be 2.5% APR.

The new Guarantee Lines that the Official Credit Institute (ICO) has put in place so that households and companies affected by DANA can quickly and easily access finance have 5 billion euros of guarantees, which will cover 80% of the loan amount.

This way, Banco Sabadell will act quickly to meet critical liquidity needs and it will also help to promote investment projects so that citizens, self-employed professionals and companies can repair the damage caused by the torrential rain as soon as possible.

This is the latest of several initiatives currently underway to help families and the self-employed. Other initiatives introduced by Banco Sabadell include a waiver of fees charged for cash withdrawals at ATMs until December 1st and discounted maintenance fees on POS devices used in shops.

In addition, the Bank has approved a 100 million euro extension of the line of credit available to the Valencian government (Generalitat Valenciana) and it has also green-lit an additional 15 million euros, bringing the total to 75 million euros, for the official funding and guarantee facilities of the Mutual Guarantee Society (MGS) so that this institution can help those affected with what they need.

Account for donations to help those affected 

As soon as news broke out about the devastating effects of DANA in the Valencian Community, Banco Sabadell activated its extraordinary emergency protocol to offer telephone assistance to its customers affected by the storm, in addition to a direct service channel for insurance claims and a telephone helpline for individuals and companies. Staff at the Bank will analyse each specific case to offer the best solution. The telephone number for Banco Sabadell customers affected by DANA is (+34) 963 68 98 72.

The financial institution also opened a current account to receive donations from citizens, which will be used to rebuild the affected areas. The Bank had undertaken to double the amount donated by citizens, up to a maximum of three million euros, bringing the total contribution to six million euros. The account will remain open to continue receiving donations from citizens.

This initiative is part of the plan put in place by the Bank with measures to support families and companies and it aims to offer effective and rapid assistance to deal with the devastating consequences of the storm.