Renta 4 | Spain’s big banks H2 results expected to be weaker.
Spain’s top five banks posted a combined net profit of 7.989 billion euros in the first half of 2015, up 48 percent from a year earlier, thanks to the improving economic situation and a decline in bad loans provisions.
The Corner | July 27, 2015 | Spain’s bailed-out lender Bankia saw its first-half profit rose 11.5 percent from a year ago, as it reported on Monday. Net profit rose 10.3 per cent to €311m, versus a consensus of analysts’ expectations of €277.8m. Charges against bad debts fell and offset weaker revenue from lending.
The Corner | July 26, 2015 | Spanish listed banks’ Q2’15 earnings season starts today. Analysts at AFI are less optimistic than consensus estimates.
The Corner | June 28, 2015 | Seven years after the crisis, and after a widespread restructuring process, Spanish banks still need to achieve a sustainable business model, the country’s central bank governor said.
MADRID | May 6, 2015 | By Francisco López | Spanish banks first quarter results have been very good in terms of earnings, but a closer look at their recurrent business is not so positive. The seven banks listed on the Ibex 35 index earned € 1,677 million in the first three months of the year, up 32% from a year earlier.
MADRID | April 25, 2015 | By Ofelia Marín-Lozano | The Euro Stoxx 50 banking index traded at 450 points in 2007. It fell to 70 during the crisis and in the last two years has recovered up to 160 points. In parallel, the profit of large listed Spanish banks fell between 2007 and 2012 to levels around a quarter of the previous highs. Since then it has been recovering, although at the end of 2014 it still was at around 50% of 2007 levels.
MADRID | April 24, 2015 | By Fernando G. Urbaneja | Bankia held its general meeting in Valencia (headquarters of one of the integrated in the brand new boxes) this week to approve its 2014 results –the year of the firm’s regeneration– and design its future roadmap. One of its non-explicit goals is to accelerate the partial and progressive privatization of the entity before November general elections in Spain.
MADRID | April 1, 2015 | By Fernando Barciela | The Corner caught up with Luis Iturbe, a board member with Spanish insurance giant, Mapfre. He emphasises the improving health of the Spanish banking sector, but says that the capital increases by lenders, notably Santander, have prevented the Spanish stock market to reach the same revaluations as its peers. He also states that markets in London and New York dished out an unreasonable level of punishment to the euro and Greece.