Spanish banks

Spanish banks credit lending

Spanish banks NPLs fall +60% since the highs of 2013

J.L. M. Campuzano (Spanish Banking Association) | Según los datos publicados la semana pasada por el Banco de España la tasa de morosidad cayó en octubre hasta un 6,08%, 1,7 puntos más baja que en diciembre y muy por debajo del 8,41% de hace un año.

 


The metamorphosis of Spanish banks: from a cosy club to tough competition

The Metamorphosis Of Spanish Banks: From A Cosy Club To Tough Competition

William Chislett | In the Franco regime and well into the 1980s, the lion’s share of Spanish banking business in a strongly protected and highly profitable market was in the hands of the so-called Big Seven and those banks, affiliated to or associated with them. The Big Seven have morphed over the past 30 years into the Big Two, as a result of a wave of mergers, after Spain joined the European Economic Community (EEC) in 1986.


The Supreme Court decides that customers should pay stamp duty -Spanish banks rise 5%

The Mortgage Tax Conundrum in Spain: The Government Corrects the High Court

“Never again Spaniards will have to pay the mortgage stamp duty”. With these words the Spanish president Pedro Sánchez announced a decree law and gave a new twist to the story of who should be responsible for this tax, just a few hours after the Supreme Court decided that it will be the customer’s duty. The way in which the highest court has managed the decision making process puts into question its credibility.



Bad outlook for Spanish banks: they will have to pay the legal costs for mortgages

Spanish Banks Pending On Court Ruling About Legal Costs For Mortgages

Spain’s banking sector lost € 5.560 Bn in market capitalisation yesterday after the country’s Supreme Court decided they woud have to pay mortgages taxes and not the final client. Just 24 hours after, the Court announced they will review the decision. Morgan Stanley calculates that the effect of ruling could reach 12 billion euros.



Spanish banks: attractive valuations but fragile trading

The Proposed Tax For Spanish Banks Not So Painful As Expected

Spain’s new prime minister Pedro Sanchez is envisaging to increase taxation on banks. Although the project is still in its infancy and needs the support of Parliament, experts at Alphavalue believe the assessment of the impact could be largely watered down.


Retail interest rates are high compared to other Eurozone's countries

The “Usurious” Interest Rates Of Spanish Banks

Miguel Navascués | The high retail interest rates in Spain, over 8% compared to at least 4% in France and other Eurozone countries, without doubt indicates usurious behavior, of the banks’ abuse of power at the expense of the customer, who on the other hand ought to inform and educate himself and refuse to pay these rates. I would say that, in fact, there is an oligopolistic factor in Spanish banking which stamps its slant on the interest rates it charges.


Spanish banks 's 2Q18 results season will start on July 25th

Spanish Banks Will Present Results Amidst Concerns Of Potential Bank Tax

Spain was a well-liked region within European banks until the new government came into place. As Morgan Stanley points in a note to investors, “the negative noise around a potential bank tax and the doubts on the fiscal plans have hit the sector.” Santander will kick off the 2Q18 results season on July 25th with all the eyes on its capital position and headwinds from Latam currencies. Issues like Turkey in BBVA and TSB in Sabadell have provided more downside to some of these names.


ECB financing Spanish banks

Spanish banks’ need for ECB financing 2nd in EZ

BS Markets | Spanish banks’ recourse to Eurosystem financing stood at almost 170 billion euros in May. Second only to Italy’s in Eurozone, whose needs amount to around 250 billion euros. In both cases these volumes represent  15% of GDP and between 6 and 7% of the size of the sector.