Santander

Caixabank has very efficient cost structures

Spain And Italy Will Dominate Net Interest Income Growth in 2019

Morgan Stanley believes Spain and Italy are going to dominate Net Interest Income growth in 2019. They flag that Unicaja, Bankinter and Caixabank are amongst the banks which improve their ROTE more with every 50 bp rise in the Euribor. Furthermore, they have very efficient cost structures.




Systemic banks

Investors Are Not Concerned About Whether A Bank Is Systemic Or Not

Fernando Rodríguez  | Analysts who study banking stocks every day do not seem to pay much attention to the factors which condition the systemic banks. In general, they feel that whether a bank is systemic or not should not influence its stock market performance or its dividend policy. It should not be the only criteria for investing in a bank.


corporate debt

Why Have Corporate Debt Issues Soared At The Start Of 2017?

The start of a new year is normally a good time for corporate debt issues, although in the first few days of 2017 there have been a greater number of these than in previous years due to the ECB’s purchase programme.  According to Bloomberg, in the first few days of January European companies and banks have issued almost 50 billion euros of debt, double the amount issued in the same period of 2016.




Final TLAC ratios will impact on Spanish sector revenues by around 4%

The Financial Stability Board (FSB) published information on the Total Loss Absorbing Capacity (TLAC) requirements for 2019 and 2022, which will be presented at the G-20 meeting later this month. Finally the TLAC ratio will be at the low end of expectations (16% and 18% respectively in those two years).