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banking sector

banco espana guapito

In Spain, In the World 10th February 2024

Spanish banks expand +9 b.p. in credit due to New York Community Bancorp’s collapse against +27 b.p. for German banks

Santander Research : After last week’s stock market collapse of regional bank New York Community Bancorp, in Europe, the alarm bell was sounded by Deutsche Pfandbriefbank. By country, the biggest stock market falls are in French (BNP -14%, SocGen -9%) and German banks; while, in credit, the biggest increases are in German banks (+27bp), followed by Spanish (+9bp), French (+8bp) and Italian (+6bp) banks. The upgrade by S&P of Banco…

Spain's banking sector

Spanish economy 22nd January 2024

Spanish banks’ profitability rises to 11.92% in 3Q23, now at all-time high, says Bank of Spain

CdM | Spanish banks achieved an annualised return on equity of 12.3% in the third quarter of 2023, compared to 11.92% in the previous quarter and 10.25% in the same quarter of 2022, according to supervisory statistics on credit institutions published on Friday by the Bank of Spain, and reported by Europa Press. This profitability figure is still far from the 14.88% recorded in the first quarter of 2021, although…

ING

European economy 26th December 2023

ING to stop funding oil and gas extraction by 2040 and aims to triple funding for renewables by 2025

Alphavalue / Divacons| The Dutch financial institution announced new targets in its energy transition financing strategy. The bank will stop financing oil and gas extraction by 2040 and aims to triple financing for renewables by 2025. This is a step forward from the previous policy adopted by the bank last year, which sought to end financing for new oil and gas fields and restrict financing to any related infrastructure. On…

bancos espanoles

In Spain 28th November 2023

Spanish banking: NPLs stable at 3.56% in September 2023; BBVA, Sabadell and Caixabank, preferred stocks

Bankinter : NPLs remain stable despite the adverse denominator effect of the fall in the stock of credit (+0.03% month-on-month; -3.31% year-on-year; -2.99% YTD/2023). Most importantly, the balance of non-performing loans stands at €42,081m (+0.05% month-on-month; -9.2% year-on-year) and accumulates a decline of -2.5% YTD/YTD (vs €43,159m in Dec 2022). This is good news because: (1) there is no significant deterioration in credit quality despite rate hikes and inflation. It…

Bank of spain new

In Spain 26th September 2023

Spanish banks’ NPLs remain at 3.50% in July, despite stock of credit falling by -3.09% year-on-year; BBVA, Sabadell and Caixabank, top picks

Bankinter : According to the latest data published by the Bank of Spain, the preliminary figure for non-performing loans remained at 3.50% in July, similar to June’s figure and compared to 3.85% in July last year, despite the adverse denominator effect of the fall in the stock of credit (-0.92% m/m; -3.09% year-on-year); BBVA, Sabadell and Caixabank, top picks. 26 September 2023 Analysis team’s view: Most importantly, the balance of…

caixabank sunset

In Spain 5th September 2023

CaixaBank and Bankinter now offer returns on deposits

Alphavalue | Large entities such as CaixaBank and Bankinter have begun to offer returns on deposits on a personalised basis and for customers with strong ties and balances of more than €50,000, as reported by the newspaper Expansión. Santander does the same, through Openbank. Until now, only a few small banks (and mostly internet-based) offered something for deposits.

España bancos 1

Relevant News Item 28th July 2023

Spanish banking sector NPL ratio rises in May to 3.59%, up from 3.55% in previous month

Link Securities | According to data published by the Bank of Spain and reported by Expansión, the banking sector’s non-performing loans ratio rose in May to 3.59% of total credit, up from 3.55% the previous month, making it two months in a row of increases. However, it remains at the lowest level since December 2008. Compared with the rate in May 2022, the financial sector’s NPL ratio fell by 0.59…

BBVA Holvi

Relevant News Item 5th June 2023

BBVA redeems 64.6 M treasury shares as part of buyback programme

Link Securities | BBVA (BBVA) notified the National Securities Market Commission (CNMV) of the partial execution of the capital reduction resolution adopted by the Ordinary General Shareholders’ Meeting held on March 17 2023, through the reduction of BBVA’s share capital by a nominal amount of €31,675,343.91, and the consequent redemption of 64,643,559 treasury shares of €0.49 par value each, held by the company as treasury shares. The treasury shares subject…

España bancos

In Europe 31st May 2023

Capital requirements in Europe increase with activation of countercyclical buffer

Renta 4| According to press reports, some European countries are demanding more capital from banks, with the activation or the intention to do so of the countercyclical buffer. Germany, France and the UK are among the countries whose central banks are studying the possibility of activating the buffer, while Iceland has just announced its activation, setting the maximum allowed at 2.5% (Norway and Denmark are already at that level). In…

societegenerale

European economy, European politics 29th March 2023

Société Générale, BNP Paribas, Natixis and HSBC under investigation in France in ‘coupon laundering’ fraud probe

Alphavalue/DIVACONS | The headquarters of five banks were the subject of judicial searches in and around Paris yesterday as part of an investigation into aggravated tax fraud, the National Financial Prosecutor’s Office (PNJ) said. According to the daily Le Monde, which broke the news, the banks under investigation are Société Générale (buy, P. O. 35.9 eur/acc), BNP Paribas (buy, P. O. 71.3 eur/acc), and its subsidiary Exane, Natixis and HSBC…