Spanish lender CaixaBank has launched a new business called AgroBank in a bid to strengthen its presence in the agricultural sector.
The new bank will offer pre-authorised credit of EUR2.6bn, according to Investment Europe.
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AgroBank will open new specialised offices and create teams to design new products and services.
The newly launched unit will provide clients the expertise of nearly 2,000 professionals specialised in the agricultural sector, the publication said.
CaixaBank had EUR14.3bn invested in the agricultural sector at the end of June this year.
Currently, CaixaBank has 330,000 clients in the sector and occupies a market share of 28%, with a network of 400 specialised offices.
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