Instituto de Crédito Oficial products, services and reviews
Rating, reviews, address, contact info, branches, phone numbers, fixed deposits, savings and card accounts offered by Instituto de Crédito Oficial
3.80%
Annual fee
Free
Cashback
No
Annual fee
Free
Cashback
No
Interest rates up to 3.80%
Open and manage directly on PickTheBank Platform
Terms from 3 months to 5 years
Annual interest payments
Protected by Deposit Guarantee System up to 100.000 EUR

Instituto de Crédito Oficial
4.1
Spain
Credit ratings
Deposit Guarantee Scheme (DGS)
Deposit Guarantee Scheme (DGS) member. Deposits up to €100k per person are covered
S&P
-
Moody’s
-
Fitch
А-
About Instituto de Crédito Oficial
Instituto de Crédito Oficial (ICO) is Spain’s state-owned promotional bank and the State’s financial agency, created in 1971 and attached to the Ministry of Economic Affairs and Digital Transformation. It finances investment and liquidity needs of companies, particularly SMEs and the self-employed, through mediated lending programs (Líneas ICO) distributed by collaborating commercial banks that originate loans within program parameters and typically retain the credit risk. ICO also provides direct financing for large projects and corporate operations, including project finance, infrastructure, innovation and internationalization, and participates in syndicated facilities. Through its investment arm AXIS, it manages public-private venture capital and private equity initiatives, including fund-of-funds programs aimed at mobilizing capital toward startups, growth companies and infrastructure. In periods of stress, ICO executes government support measures such as state guarantee schemes, including those launched during the pandemic and subsequent programs addressing energy and supply chain shocks. The institution funds itself primarily in capital markets via benchmark bonds, private placements and commercial paper, complemented by lines from multilateral institutions; it does not take retail deposits or offer transactional banking. Under Spanish law, ICO’s debt benefits from the explicit, unconditional guarantee of the Kingdom of Spain, and its credit ratings align with the sovereign. It maintains a sustainable bond framework and issues green and social bonds with proceeds allocated to eligible SME, social and environmental projects. Governance follows public-law statutes with oversight by the ministry and applicable EU and Spanish banking rules. Key structural features include a countercyclical public-policy mandate, reliance on wholesale funding, and a business model centered on policy-driven lending rather than retail services.
Instituto de Crédito Oficial Deposit guarantee scheme participation
Instituto de Crédito Oficial participates in the deposit guarantee scheme of Spain which applies to all deposit accounts made by natural persons, legal entities and covers up to up to 100,000 EUR (or equivalent in local currency) per bank per depositor.
Instituto de Crédito Oficial Countries of operations
Instituto de Crédito Oficial offers their savings products in
Products offered by Instituto de Crédito Oficial and interest rates
Instituto de Crédito Oficial offers 0 deposits and 0 savings accounts in .
Best interest rates in Spain
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Bank identifiers
BIC number
ICROESMM
Name
Instituto de Crédito Oficial
Country
Spain