Banco Santander announced earlier this week that it posted profits of 6.619 billion euros in 2017, up 7% from a year earlier: BBVA published its results yesterday, with profits rising 1.3% year-on-year to 3.519 billion. Ten years on, have the two banks recovered from the global financial crisis?
Lehman Brothers fall
Lehman Brothers’ collapse became a milestone representing the official start of the ongoing long economic crisis. Subprime mortgages had failed years before, then afterwards the crisis fuelled different situations such as the European bail-ins. Today marks seven years after the event. The risk from “too big to fail entities” remains.