EU Business News- Q1 2024 Jun24124 Most Dedicated Community Support & Social Responsibility CEO 2024: Xabier Sagredo Banking foundation, BBK, holds the same values and commitments to the people and businesses of Bizkaia that it has done for over 100 years. The foundation, which holds a majority share in the socially conscious savings bank Kutxabank, is a market leader in its area of influence. BBK’s mission ensures that Kutxabank, the leading service company in the Basque Country, retains its decision-making centre in the region. Holding 57% of Kutxabank’s shares, BBK collaborates with stakeholders to promote and invest in the region's economy. So far, BBK’s investment in regional social initiatives has reached a staggering 231 million Euros. In addition to its mission for social change and local investment, the foundation has had its own challenges. The foundation, in its present form, came into being in 2014, following the reform of the Savings Banks and Foundations Law. At that time the economic climate was far from stable. The stock market was complex, banking profitability was minimal, and interest rates were in decline. Nevertheless, BBK faced the dilemma posed by the change in regulation headon. The foundation worked tirelessly to maintain control of the bank and establish a reserve fund. Its actions succeeded in stabilising the merger of 3 the financial institutions which formed Kutxabank. A guiding light through these challenging times, Xabier Sagredo, took the helm of BBK in 2013. After finishing his studies at the Faculty of Economic and Business Sciences at the University of the Basque Country, Xabier began his career working in the expansion and heritage sector of Ipar Kutxa (today part of the financial services company Laboral Kuxta). Xabier understood what was needed to sustain and grow prosperity in the region, and set about increasing his area of influence. He became general manager of the transport company, Transitia. He served as a Bilbao-born Xabier Sagredo, is working to enhance the wellbeing of his native Bizkaia (Biscay) and its citizens. CEO of banking foundation BBK in the Basque Country, Xabier raises social and environmental awareness to ensure the success and prosperity of future generations. With Xabier, we look at BBK, its history, and the vision that’s guiding the region towards a brighter and better future. counsellor for the Bilbao Port Authority and an audit committee member for energy company, Iberdrola Generación. Today, as well as his role as the chairman of the Board of Trustees of Bilbao Bizkaia Kutxa Banking Foundation, Xabier is a trustee of the Biocruces Health Research Institute, the Bilbao Fine Arts Museum and the Guggenheim Museum Bilbao Foundation. He is an independent director of renewables company Iberdrola and sits on the Board of Directors of the Orkestra Basque Institute of Competitiveness. Orkestra addresses the challenges and advances the vision of the Basque region (Euskadi) towards its mission for 2040. BBK is committed to the prosperous future of the Basque territory and its citizens. The foundation helps to fund a wide range of social initiatives including training, self-employment support, and sociocultural activities. BBK is responsible for programs focusing on leisure, social participation and health and wellbeing for all. The foundation also sponsors cultural and creative projects and promotes the sustainable development and environmental preservation of the region. Xabier explains, “Our mission is to help build a prosperous, cohesive, sustainable Bizkaia. We contribute to wellbeing and equal opportunities in Bizkaia. We achieve this through distinctive and impactful actions and by preserving heritage with responsible and committed investments. We promote an inclusive economic and social development model that ensures our future.” Aligning with the United Nations’ 2030 Agenda, BBK follows a strict order of values. First, it addresses the needs of Bizkaia. Second, it focuses on collaboration, complementarity and equal opportunities. Third is BBK’s commitment to sustainability combined with territorial balance. BBK advocates for gender perspective, innovation, and intergenerationality. It maintains rigorous Contact: Xabier Sagredo Company: BBK Fundación Bancaria Web Address: https://www.bbk.eus/es/
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