banking sector

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

Spanish economy 28th May 2021

Spanish Banks Lag Behind: Q4’20 Deficit Of €7.336 Bn Compared Average Of €39.6 Bn For The Banking Union

Alphavalue | Spanish banks recorded a shortfall of 7,336 million euros in 4Q20, equivalent to 0.94%, compared to the target for their minimum requirements for own funds and eligible liabilities of 29.10% of risk-weighted assets, set on average for the sector in Spain by 2024 by the SRB. These figures leave Spanish banks lagging behind the Banking Union as a whole, whose average shortfall was 0.58% or 39,604 euros million in 4Q20 with respect to the MREL target.

Spanish economy 7th May 2021

Spain’s Big Banks Earned 7.8 Billion In Q1’21, Half Due To Caixabank-Bankia Merger

T.C. | The five big Spanish banks posted net profit of 7.825 billion euros in the first quarter of this year, compared with a loss of 1.053 billion in the first quarter of 2020, when they made provisions of 3.9 billion to deal with the coronavirus crisis. It should be noted, however, that without the effect of the Caixabank / Bankia merger, the Q1’21 profit would be considerably lower at…

Ibex 22nd April 2021

The Restructuring Of Caixabank Could Lead To The Largest Redundancy Scheme In The History Of Spanish Banking Sector

The Catalan bank has informed the trade unions of the adjustment resulting from the merger with Bankia. The plan, in principle, includes the lay-off of 8,291 workers, 18% of the group’s workforce in our country, although the final figure could be lower depending on the negotiations that began last week. Until now, the most significant restructuring plan in the Spanish financial industry was carried out by Bankia in 2013 and affected 4,500 workers.

Spanish economy 12th March 2021

Spanish Banks’ Debt With The ECB Doubles In One Year

Spanish banks’ debt with the European Central Bank, which reflects their gross demand of the institution’s regular financing operations, did not show any change in February and remained unchanged at 261.21 billion euros, exactly the same as a month earlier. However, according to Bank of Spain data reported by Europa Press, the increase is 100.24% compared to the same month of the previous year.

Ibex, Markets, Spanish economy 4th February 2021

Spain’s Big Banks Lose €5.55 Bn Due To Coronavirus; Santander Posts Losses In Its Annual Results For The First Time

Santander, BBVA, CaixaBank, Bankia, Sabadell and Bankinter posted combined losses of €5.55 Bn last year, with their accounts badly affected by the coronavirus, compared to the more than €13.5 Bn achieved in 2019. These negative figures are mainly due to the great losses suffered by Santander, €8.77 Bn, the first of its history, compared to the €6.51 Bn it earned in 2019. Santander’s losses came after increasing provisions for the covid-19 crisis and assuming an impairment of €12.6 Bn in the value of its subsidiaries in the UK, the US and Poland.

Ibex, Spanish economy 27th November 2020

Talks Between BBVA And Banco Sabadell About A Potential Merger Terminated Without Agreement

Renta 4 | The reasons for the cease of negotiations would be, on the one hand, the lack of agreement on the exchange equation and the price to be paid, and on the other, the distribution of power. The suggested retirement for Sabadell’s chairman Josep Oliú in exchange for the operation being paid for in cash would not be well received by the ECB, given the risk of BBVA’s chairman Carlos Torres being charged in relation with the Villarejo case. This could then leave the merged group without a chairman. So the ECB would have urged a joint presidency between Torres and Oliú.

European economy 26th November 2020

The Blunder Of Negative Interest Rates

Miguel Navascués | The depression and the drop in inflation -or even deflation- have led the central banks to try a disastrous experiment: negative interest rates. Even Christine Lagarde speaks of putting the reference interest rate at -2%. This has been a mistake for several reasons. It discourages the holding of liquid deposits (which logically yield zero or negative), but it does not make people anticipate consumption, if prices stagnate or fall.

Ibex, Markets, Spanish economy 6th October 2020

Liberbank And Unicaja Resume Merger Talks To Create 5th Largest Spanish Bank By Assets

In February, Liberbank and Unicaja concluded possible merger contacts after failing to reach an agreement about the likely distribution of the shares of the new entity, but now the integration of both banks would give rise to the fifth lender in Spain in terms of asset volume, with €98.6 Bn (€56.7 Bn Unicaja and 41.95 Bn Liberbank). Net profit would reach €102 M in H1’20 (€61 M UNI and €41 M LBK). The new bank would have a network of 1,607 branches (1,028 UNI and 579 LBK) and 9,942 employees (6,274 UNI and 3,668 respectively).

Spanish economy 28th September 2020

Spanish Bank M&A: Reaching The Next Level Of Efficiency Gains

Spanish banks have made drastic efforts since the financial crisis to improve efficiency. They were among the most active in Europe to adjust their branch networks. But while the number of branches has reduced in many countries, the workforce has not always followed the same pace of adjustment. For analysts at Scope Ratings, there is still room for efficiency gains, particularly as digitisation continues. “Transition in Spain can only accelerate, leaving room for consolidation”, they say.

Spanish economy 24th September 2020

Spanish Banks Lose €11.531 Bn In H1 2020

Spanish banks recorded aggregate attributed losses of 11.531 billion euros in the first half of 2020. This came in the wake of an effort in terms of provisions and write-offs to the tune of 26.518 million euros. Preparation for the economic impact of the Covid-19 pandemic was behind this effort, according to the Spanish Banking Association (AEB).

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