Savings 1940-1990.
Although savings continued to increase after the war, economic conditions were not ideal for sustained growth. The prevailing economic autarky, which may have benefited some companies, limited the development of others. Despite this, the promotion of savings and the confidence of its clients in the institution continued to be constant, although this Savings Bank had some problems due to the general situation in the country. In 1944, taking into account both Savings Banks, Lava occupied third place in the Basque-Navarre Confederation of Savings Banks in terms of the number of depositors (following Navarre and preceded by Gipuzkoa and Bizkaia), but it was in first place in terms of savings intensity, 1,700 pesetas per inhabitant (followed by Gipuzkoa with 1,002, Biscay with 828 and Navarre with 548 pesetas). In 1945, the Municipal Savings Bank was far ahead of the provincial bank due to its balance (122,024,062.70 pesetas, compared to 70,446,463.69) and number of depositors (34,266 at the Municipal Bank and 21,822 at the Provincial Bank).
In the 1940s, the importance of the agricultural sector continued to be predominant in the province and aid policies for it were maintained for many years. This interest was reflected in the opening of branches in the province (24 in 1946), with the clear intention of attracting the savings of farmers. He worked together with the National Wheat Service, providing Agricultural Credit Policies, and promoted the creation of the Mutual Livestock Insurance (1951) and the Lava Dairy Plant (1964). He financed livestock competitions, irrigation works, mechanization, the publication of publications for agricultural information and dissemination, and cooperatives (Covria, Anoga, Agrupal).
In the 1950s, a development process began that coincided with the growth of the city, the increase in its population and the establishment of industries, with the consequent increase in savings rates. This process intensified from the 1960s and 1970s onwards and in which the Caja participated directly, using the funds from savings, in the purchase of industrial land and in supporting the development of the economy of the city and the province. It collaborated with the City Council in the purchase of land for the industrial expansion of Vitoria-Gasteiz in Beto-Gamarra; the Arriega industrial estate and Al-Gobeo.
The Caja's loans continued to benefit the City Council, which used them to meet the needs of the city of Vitoria-Gasteiz, including providing housing for those who came to work there, exacerbating the existing problem. Through the promotion of "home ownership," it granted loans to the Vitorian Cooperative of Cheap Houses (houses in Txagorritxu and Zaramaga). The Caja carried out decisive work in this area, either by directly supporting the construction of housing or by granting mortgage loans. The rest of its investments followed the line marked by the law, but with a special emphasis on the purchase of land and property, until legislative changes allowed it greater freedom of action.
In 1975, several events took place that would introduce significant changes in politics, society and the economy. Firstly, the end of General Franco's dictatorship and the transition to democracy that began after his death. Secondly, the consequences of the worsening economic situation, with the oil crisis (1973) that lasted until 1987, which produced strong inflation and increased unemployment, forcing the Savings Bank to make its own adjustments. To all this we must add the legislative changes that modified and modernised the actions of the Savings Banks and the new political relations that the approval of the Statute and the implementation of the Basque Government brought with it (see SAVINGS BANKS IN BASQUE COUNTRY ).
Along with these social, economic and political changes, technological changes took place. Ever more powerful and faster computers, ATMs, credit cards and connections in shops, allowed mechanisation and computerisation to change accounting methods and relations with savers. In addition, it improved the management of the entity, which had continued its upward trend in attracting savings, with 161,144 million pesetas in its assets in 1989.