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MicroBank's Annual Report 2020

Publication Impact studies

There is no doubt that 2020 will be a difficult year to forget thanks to the COVID-19 pandemic. The health crisis has in turn caused an unprecedented social and economic crisis that has hit families and businesses of all sectors and sizes. This new reality has been a great challenge for society as a whole, pushing citizens, companies and institutions to adapt to new ways of working, interacting and even reinvent themselves.

More than ever, in 2020 MicroBank invested heavily in its desire to contribute to the progress and wellbeing of society, reaching a new record figure by financing projects with social impact to the value of €900 million. Microcredits granted in the last financial year were at a new all-time high with 100,095 microcredits being granted for an amount of €746.6 million. It is worth highlighting the amount allocated to entrepreneurs and microenterprises, totalling €374 million, 62% of which was used directly to mitigate the impact of the COVID-19 crisis on their businesses. On the other hand, microcredits aimed at meeting the specific needs of vulnerable families amounted to €373 million.

Juan Carlos Gallego González
Chairman of MicroBank


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