The Spanish banks’ correction in February was 5.2 percentage points higher than the average in the eurozone.
Spanish Minister of Economy Luis de Guindos gave some hope on Tuesday to the 80,000 Bankia customers stuck on preferred shares and subordinated debt: an arbitration process will be in place in those cases where there had been bad practice. Two other nationalized banks (Novagalicia Banco and Catalunya Banc) are using the same procedure so their clients will be able to get back at least 60% of their money.
MADRID | By Carlos Díaz Guell | The Spanish bank’s bailout, added to the reforms and decisions made during the last years, can effectively complete the country’s banking puzzle and halt the worsening of a seemingly never ending crisis.
Over 80 percent of all Spanish deposit banking institutions–six of them systemic–will be inspected by the European Central Bank from 2014.
Investors have responded with interest to some recent capital increase plans and debt sales from large Spanish banks. But it is too early in the year to infer an improvement in perceptions.
By Julia Pastor, in Madrid | The Spanish financial system reform is already under way, so it generates a non-stop stream of news and comments….
By Tania Suárez, in Madrid | Thanks to the current environment of improved trust and confidence levels, Spanish companies and banks have reopened the primary…
By Julia Pastor, in Madrid | The president of the bank Santander Emilio Botín knows very well what he is talking about, and from where…
Spain’s best-seller financial daily Expansión reflected on Friday how adamant the country’s banking authorities are to clear the air after the Financial Times named seven entities…