SANTANDER | By A. Laso | Spanish banks association’s president is optimistic about weak entities paying back future help packages after they are restructured into the private sector.
MADRID | By José Luis Marco at Capitalmadrid |The Bank of Spain considers that liquidity is no longer a problem and detects a greater international confidence on the country’s financial groups.
The Spanish Banking Association wants nationalised entities dismantled or sold, as the toxic legacy of the savings banks has become too poisonous for too long (with information from Ángel Laso, valenciaplaza.com correspondent in Madrid).
LONDON | Fitch expects that the sector’s restructuring efforts fuel the higher level of consolidation seen since the reforms started last year.
By Javier Niederleytners, professor at the Institute for Stock Exchange Studies IEB | Market pressure right now has relaxed over the country’s public debt and it seems to be a good moment to sell part of their bond holdings to cancel ECB loans.
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.