banking sector

Spain will impose a 5% tax on foreign and Spanish companies’ digital services

Markets, Spanish economy 20th February 2020

Spain Pushes Ahead A Regulatory Sandbox For The Banking Sector’s Digital Transformation

The draft law for the digital transformation of the financial system is a long-awaited measure by the banking sector. The project anticipates the implementation of a test bench or regulatory sandbox, which is instrumental in promoting innovation in financial services. It is also a tool for the competition authorities, as it allows for synchronization between supervisory practices and financial regulation and the current pace of innovation and digital transformation.

Ibex 7th February 2020

Bankia Earnings 23% Down In 2019

Bankia’s results were much better than market expectations, however, there are some uncertainties about its share price. The bank has achieved a profit of € 542 million, 23% less, with experts expecting a greater adjustment due to the bank’s efforts to get rid of unproductive assets.

Eight Spanish banks brands amongst the 500 most valued worldwide

Ibex, Markets, Spanish Small & Mid Caps 6th February 2020

Eight Spanish Bank Brands Amongst The 500 Most Valued Worldwide

Spanish banks, represented by 8 entities (Santander, BBVA, Caixabank, Sabadell, Bankia, Bankinter, Kutxabank and Abanca) occupy the seventh place worldwide by brand value and account for 4% of the total brand value of the banking sector, according to Brand Finance Banking 500 ranking of Brand Finance, the leading global independent brand valuation consultant.

Companies, Ibex 21st January 2020

Spanish banks 4Q19: Caixabank, top pick in interest income; Santander improves capital by 15 p.b.

Morgan Stanley | Looking ahead to 4Q, we expect modest growth in NII (+ 0.5% QoQ) and by 2020 we have -2% (Caixabank -1% and Bankia -3.5% YoY). The growth in commissions will improve by comparable easy and inflows (we expect + 4% YoY on average).

Ibex, Markets 29th November 2019

Santander Designated Bank Of The Year In Spain, Western Europe And The Americas

Banco Santander has been named Bank of the Year in Western Europe, the Americas, Spain, Portugal, Argentina and Chile by The Banker magazine. The Banker recognized the bank’s “peerless commitment to an enhanced customer experience”, its pursuit of operational efficiency and its development of new digital, global trade and global merchant services.

In Europe 15th August 2019

Banks trading at crisis levels; car sector cheapest since 2001

Morgan Stanley | European banks trading at crisis levels. The car sector is the cheapest it has been since 2001. Our latest monthly review highlights two observations about tendencies, sentiment, valuation and fundamentals for European sectors:

Ibex, Markets 24th July 2019

Spanish banks results will fall 10% in 2019 and 12% in 2020

The relatively poor performance continues. “So far this year, Spanish banks have been the worse performing subsegment in the universe of European banks we cover, with average fall of c.14% (total returns)”, analysts at Santander point out.

Ibex 19th July 2019

Moody’s focuses on the Spanish banking sector and its rate of reduction of NPLs

Link Securities | The ratings agency Moody´s downgraded its rating outlook for the Spanish banking sector as a whole from “positive” to “stable”, as a consequence of the banks´ slowing reduction of non-performing loans (NPLs).
The agency expects fewer disinvestments in 2019 than registered in 2018, when banks accelerated the sanitisation of their balance sheets.

Spanish economy 24th June 2019

Bank of Spain maintains countercyclical buffer for Spanish banks at 0%

The Bank of Spain will maintain of the counter-cyclical buffer at 0%, arguing that (a) the credit-GDP gap continues in negative territory, and (b) the Spanish economy still shows a remarkable strength as the GDP increased by 0, 7% t/t in 1Q19.

Ibex, Markets 18th June 2019

CaixaBank: 1 or 2 year profit outlook weighs on performance

Alphavalue | The ECB´s reflationary strategy has caused doubts among investors about the business plans of Spanish banks, in particular Caixabank, articulated in terms of the improvement in the net interest margin over the expected future rise in interest rates (which, incidentally, we do not expect any time soon).

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