Press release
México, D.F., September 7, 2009.
Inbursa Financial Group announces the establishment of Inbursa Foundation with an one-thousand million pesos endowment, to jointly operate with La Caixa of Barcelona.
Mr. Carlos Slim have announced today the establishment of Inbursa Foundation, so enhancing the social responsibility aims that Fundación Carlos Slim has embraced since more than 20 years ago in support of education, health, employment, culture and justice for a growing number of Mexicans.
Inbursa Financial Group and La Caixa of Barcelona share mutual entrepreneurial goals and phylosophy, and social responsibility values and principles as well. For that reason they have created Inbursa Foundation.
Inbursa Foundation has been endowed with one-million thousand pesos.
The Inbursa Foundation inaugural act was attended by the following persons: Infanta Doña Cristina, Fundación La Caixa’s Social Area Director; Mr. Marco Antonio Slim Domit, Inbursa Financial Group’s Administration Board President; Don Jaime Lanaspa, Fundación La Caixa’s General Director; Don Isidro Fainé Casas, President of both La Caixa’s Administration Board and Fundación La Caixa’s Social Works Commission, and Mr. Carlos Slim Helú.
The partnership between Inbursa Financial Group and La Caixa of Barcelona brought forth mutual interest from its very beginning because of shared commitment and likely business phylosophy in the financial sector, as well as shared social responsibility values and principles. So, mutual strengthenning in social achievements is expected for both of them.
In this respect, Mr. Carlos Slim Helú declared: “It’s both delightful and satisfactory that, through Fundación Inbursa, we all take advantage of mutual experience and resources for the sake of social well being.”
In his own turn, Isidro Fainé said: “Our partnership is neither mere chance, nor occasional interest. We stand here to permanently colaborate with this great country in the financial, the entrepreneurial, and the social fields.” He then congratuled Mr. Carlos Slim, his son Marco Antonio and all of the Slim family because of their “outstanding philanthrophic and social work initiatives, and their entrepreneurial brightness and social commitment as well.”
The Infanta Doña Cristina kept in view that “By considering the United Nations Millenium Development Goals, our aim is to make known the global reality of the developing countries and to infuse solidarity and social justice values into the Spanish society, especially among the young. I sincerely think that today’s Inbursa display is just the beginning of a way that will contribute to suffice the needs of many vulnerable people.”
Don Jaime Lanaspa, Fundación La Caixa’s General Director, allowed to be “glad of having an opportunity to expound the activities of La Caixa Foundation in both Spain and many other countries.”
At the end of the exhibit, Mr. Marco Antonio Slim Domit affirmed that “ the financial sector activity, due to its impact on the development of countries, it involves a strong social responsibility.”
Mr. Carlos Slim address on the creation of Fundación Inbursa.
September 7th, 2009.
Good afternoon to all of you,
Her Highness, Infanta Doña Cristina,
Social Area Director of Fundación La Caixa.
Don Isidro Fainé,
Administration Board President of Fundación La Caixa.
Don Jaime Lanaspa,
General Director of Fundación La Caixa.
Mr. Marco Antonio Slim Domit,
President of Grupo Financiero Inbursa.
I am pleased in welcoming you to the creation of Fundación Inbursa. In less than a year, we and La Caixa of Barcelona have jointly created a great society which is a big stimulus for Grupo Financiero Inbursa, well beyond capital increasing, managerial synergy and experience interchange during the last few months, specially for Inbursa.
This is an alliance which have allowed us to reach strong capitalization and intense lending and financial activity during 2008 and 2009. In spite that the current global financial crisis has restricted the financial flux, Inbursa has kept opened its credit and financial offering for big projects, big firms and big commercial credits, and also for small and medium-size enterprises. About 20,000 small and medium-size firms are already getting financial capital from this offering, and between 800 and 1,000 new ones get incorporated to these credit programs.
During the last few months, we have made a society with Muhammad Yunus’s Grameen Bank to lending microcredits for the poorest with rather competitive rate interest. This lending activity has just began and we expect to finance about 90,000 or 100,000 small enterprises with microcredits. I stress the importance of these financial activities for Inbursa.
Yet, beyond all of this commercial activity, I underline the importance Inbursa gives to our society with La Caixa, beyond its structure and organization. I underline the importance we give to our alliance with La Caixa’s persons, to our community of ideas and values, specially to the motivation of the present gathering, the non-entrepreneurial and support activities for the society in which we work and live. Such is the reason for the creation of Fundación Inbursa with an endowment amounting one thousand million pesos to support health, education, culture, and mainly human capital formation. These activities are part of Fundación Inbursa and La Caixa commitment, not only in Spain, but in many other countries.
Finally, I would like to thank your presence, specially to our partners who have procured these contributions to support the common programs for our countrymen.
Thanks to all of you.
Fundación Inbursa Installation
Address by Mr. Marco Antonio Slim Domit, President of the Administration Board of Grupo Financiero Inbursa.
September 7th, 2009.
Infanta Doña Cristina
Don Jaime Lanaspa
Don Isidro Fainé
Mr. Carlos Slim
Honorable Guests:
All of the human activities involve social responsibility, specially those activities concerned to the financial sector because of their impact on the economic development of countries.
We are acquainted of it since Grupo Financiero Inbursa was founded by Mr. Carlos Slim in 1965. We are aware of how our concern daily acts on many persons lives, business and, of course, on our own country.
Besides the direct jobs it sustains through its financial, saving and insurance services, Inbursa matters for more than 6 million 800 thousand customers’s life quality.
By managing bank deposits, investment funds, and pensions, Inbursa contributes to its customers capital increasing, so instilling them confidence, coolness, and a better future.
Our insurance services customers rely on Inbursa’s secure backing for their most critical moments: death, illness, theft, accident, and fire, so covering them, their relatives, and their hardly-attained goods.
By extending personal credit, Inbursa makes possible for many families to be in possession of a house and of many other goods, so backing them in accruing their family estate.
Inbursa’s trade credit backs commercial firms growth, so fostering their investment deed to create more and better jobs.
It should be stressed that during the ongoing interval of restricted global financing and receding banking activity, Inbursa, besides having undertook the opening of more than 300 branches, it has doubled its commercial credit emission, amounting to 156,000 million pesos during the last 18 months. This figure includes a growth rate of more than 800 credits for small and medium-size firms each month.
The strategic partnership that Inbursa undertook with La Caixa of Barcelona in 2008 has been inspired by the financial scope and, above all, the values and principles both institutions do share. Both of we profess a mutual interest in contributing to social well-being, as our relevant separate activities for the improvement of the poorest do attest for.
La Caixa’s social work stands for such a commitment. Its president, Don Isidro Fainé, is highly respected not only because of his own entrepreneurial cleverness, but also due to his intense, effective and fully-engaged work for the betterment of the others.
We share such a social commitment, mainly through Fundación Carlos Slim and Fundación Telmex, both of them being created, presided and encouraged by Mr. Carlos Slim, who brings into play his awareness and allegiance to discern social problems and to find workable solutions for them.
It is out of this shared certitude and commitment that we proudly announce today the creation of Fundación Inbursa, an institution fully devoted to improving health, education, justice, employment and culture, the critical subjects for both current and future social well-being.
Fundación Inbursa stands for an added component of the social activities chain we have linked together since the inception of Fundación Carlos Slim more than twenty years ago.
I want to stress that we feel highly honored by the attendance to this meeting of Her Highness, Infanta Doña Cristina, who presides over La Caixa Foundation’s international cooperation area, and whose dedication has benefited many countries.
We in Inbursa are fully aware of our own commitment to Mexico, to the Mexican society and to our own customers. It is in this temper that, from now on, Fundación Inbursa starts to operate and to persevere in improving many more people lives.
Thanks.
