The General Council of the Institut Valencià de Finances (IVF) has approved its 2024 annual accounts, closing the year with a profit of €17.7 million.
As highlighted by Ruth Merino, Regional Minister of Finance and Economy and President of the IVF, “this excellent result will allow the IVF to maintain its position as a financing instrument for business projects that drive the proper development of the Valencian Community’s economy, designing credit products that support entrepreneurship, innovation, and business growth in our region.”
Merino also emphasized that these results far exceed those achieved in 2023, a year that ended with a profit of €4.5 million.
33.3% increase in turnover
Looking solely at turnover, the annual accounts of the Institut Valencià de Finances show that the organization closed the 2024 financial year with a result of €22.3 million, reflecting a 33.3% increase compared to the previous year.
Specifically, interest generated from loans granted rose from €14.4 million to €19.7 million, an increase of 36.6%. As explained by the Institute’s Director General, Enrique Montes, “this is the result of the high lending activity recorded during the past year, consolidating the positive trend of recent years.”
“The strong result from our intermediation margin, combined with efficient resource management, cost containment, and the healthy performance of our loan portfolio—with reduced provisioning needs—have enabled us to close 2024 with the second-best result in the IVF’s history,” Montes added.
The annual accounts show that IVF’s personnel expenses decreased by 3.8%, external service expenses dropped by 18.5%, and loan portfolio impairments decreased by more than 50%.
In addition, income from financial instruments increased, driven mainly by returns on venture capital investments, which reached €2.3 million—up 57% compared to the previous year.
Lending activity in 2024
Considering the various financial instruments offered over the past year, it is worth noting that the IVF carried out 815 financing operations in 2024, with a total value of €221.4 million.
“These excellent results translate into businesses that have grown, jobs that have been created, and business and personal projects that have come to life thanks to the support of an institution like the IVF, which is committed to the development, growth, and progress of the Valencian Community,” said Ruth Merino.
Tony Woodward and Ramón Trénor, who were recently appointed as new board members, also attended this General Council meeting of the IVF.
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