BBVA chairman says banking tax is damaging economy and confirms 40-50% payout
Link Securities| The chairman of BBVA (BBVA), Carlos Torres, said that the bank tax damages the Spanish economy and should not exist, because it negatively affects the volume of loans and reduces GDP growth, in an interview with the newspaper Expansión, on the occasion of the World Economic Forum in Davos (Switzerland). The executive defends that the Spanish banking sector is efficient and competitive and does not enjoy extraordinary profits….