Banco Sabadell and tuTECHÔ Join Forces to Combat Homelessness in Spain

Spain is facing one of the most critical moments in its recent history in terms of housing and residential exclusion. According to the Survey of Shelters and Services for the Homeless conducted by the National Institute of Statistics (INE, 2024), an average of 33,758 adults stayed in shelters in Spain each day, an increase of 55.7 % compared to 2022. The INE survey itself found that of the 1,376 existing shelters, 26.2 % served exclusively homeless immigrants, compared to 20.0 % in 2022.

Compounding this reality is the economic vulnerability facing a large portion of the population: 25.8% of the Spanish population is at risk of poverty, according to 2024 data from the INE, in a context marked by the sustained rise in housing costs and the cost of the basic basket of goods.

It is in this context that partnerships between the financial sector and organizations specializing in addressing homelessness take on particular importance.

Banco Sabadell and tuTECHÔ Sign a Collaboration Agreement

Banco Sabadell, through its specialized unit for Religious Institutions and the Third Sector, and tuTECHÔ have signed a collaboration agreement with the goal of promoting joint initiatives that combine financial expertise, wealth management, and social impact.

The partnership was formed with the aim of creating synergies between the two organizations to support religious institutions, foundations, associations, social organizations, and other entities committed to the common good in identifying financial and wealth management solutions that contribute to the development of projects with a positive impact on society.

tuTECHÔ is developing an innovative model to help address one of our country’s major social challenges: homelessness. Through TECHÔ Hogar SOCIMI SBIC and the tuTECHÔ Foundation, the organization promotes solutions aimed at facilitating access to decent housing and fostering the social inclusion of people in particularly vulnerable situations.

A historic commitment to the third sector

This partnership reinforces Banco Sabadell’s commitment to organizations that play a vital role in serving people. The Religious Institutions and Third Sector unit has extensive experience working with congregations, dioceses, foundations, NGOs, religious brotherhoods, schools, and social organizations, offering specialized solutions and advice tailored to the characteristics and needs of each organization.

The signing of this agreement represents another step forward in Banco Sabadell’s commitment to promoting initiatives that generate economic value while also contributing to social progress. Both organizations share the conviction that financing, investment, and wealth management can play a significant role in finding sustainable solutions to today’s social challenges.

Statements from the Key Figures

“This agreement allows us to continue advancing in our mission to support organizations that work every day to serve people. tuTECHÔ’s proposal is an innovative initiative to help combat homelessness and reflects how collaboration among different stakeholders can generate a positive and tangible impact. For Banco Sabadell, it is a pleasure to explore new avenues of collaboration that add value not only to our customers and partner organizations but also to society as a whole,” says Santiago Portas, director of Religious Institutions and the Third Sector at Banco Sabadell.

“Major social challenges require partnerships capable of bringing together knowledge, experience, and commitment. ”Our collaboration with Banco Sabadell’s Religious Institutions and Third Sector unit will allow us to expand our capacity for action and continue to promote innovative solutions that facilitate access to decent housing and create new opportunities for people in vulnerable situations,” says Blanca Hernández, president and founder of tuTECHÔ.

Building Bridges Between Finance and Social Action

Through this partnership, Banco Sabadell and tuTECHÔ are reinforcing their commitment to building bridges between the financial sector, wealth management, and social action, promoting initiatives aimed at creating opportunities and improving the quality of life for the most vulnerable people.

A State Strategy to End Homelessness by 2030

The government, aware of the magnitude of the problem, approved a national strategy in July 2023 with the goal of ending homelessness by 2030, at a time when the number of homeless people exceeded 28,500, which has driven the transition from a traditional welfare model—based on shelters—toward a community-based model focused on stable housing solutions. Within this framework, various nonprofit organizations warn that structural shortcomings persist: according to HOGAR SÍ, even though the vast majority of homeless people (82%, according to the INE’s 2022 data) believe that shelters do not allow them to rebuild their lives, more than half of the available spots are still in these types of centers.